I tried a traditional Austrian/AltoAtesan "Wellness Centre" a couple of weeks ago. It was lovely and I would really recommend it for value.
Hotel Schönblick
It's in the most blissfully Alpine valley - Val Pusteria, one of the prettiest around - and is easy to get to from Bolzano, the capital, by car.
I arrived Saturday morning and left Sunday afternoon. We had light lunches and use of the pool, sauna and games both days. A full (yummy!) dinner and big breakfast were included, only wine was paid for. Spa treatments are available at cost. Rooms were nice, and bathrobes and towels provided. The best bit was relaxing in the outdoor part of the pool and looking at the glaciers. We paid E53 each, sharing a twin room.
Lots of nice walking in this area too.