A portable spa (10) comprises a reservoir (28) for holding water and an outer wall (20) spaced outwardly from the reservoir (28). The spa (10) includes an equipment bay (44) located between the reservoir (28) and the outer wall (20) that is accessible from an opening (42) at a top portion of the spa (10). A cover (50) over the opening (42) to the equipment bay (44) is removable from the top portion of the spa to permit access to the equipment bay (44). The equipment bay (44) contains substantially all of the equipment necessary for operation of the spa (10) and can conveniently accessed free of any obstructions around the side of the spa (10). The spa (10) can be installed either above ground in the manner of a portable spa, or it can be installed directly in the ground in the manner of permanent in-ground spa.