28-30 Apr 2024
Radisson Blu Hotel,
Glasgow,
|
08-08 May 2024
Hotel Melià ,
Milano ,
Italy
|
10-12 May 2024
China Import & Export Fair Complex,
Guangzhou,
China
|
13-16 May 2024
Conrad Chia Laguna Sardinia ,
Italy
|
14 May 2024
JPMorgan Chase Headquarters,
New York City,
United States
|
18-22 May 2024
The Ravenala Attitude Hotel,
Mauritius
|
23-24 May 2024
Large Hall of the Chamber of Commerce (Erbprinzenpalais),
Wiesbaden,
Germany
|
30-30 May 2024
Four Seasons Hotel George V,
Paris,
France
|
|
|
|
On-board spa operator, One Spa World, gets cash injection from L Catterton |
|
By Megan Whitby 07 May 2020 |
The agreement will see OSW sell US$75m (£59.8m, €68.4) in common equity and warrants to Steiner Leisure
|
Cruise ship and resort operator, One Spa World (OSW), has struck a rescue deal with private equity firm, L Catterton for financial pandemic assistance.
The agreement will see OSW sell US$75m (£59.8m, €68.4) in common equity and warrants to Steiner Leisure, part of the L Catterton portfolio.
OSW was previously owned by Steiner, but was sold to Haymaker Acquisition Corp in 2018 in a transaction valued at US$948m (€825.6m, £720.6m). OSW has been struggling since the pandemic began and has furloughed 96 per cent of its US and Caribbean resort spa staff and 37 per cent of corporate personnel, repatriated 45 per cent of all cruise ship employees and closed all US and Caribbean destination resorts spas.
Leonard Fluxman, OSW’s executive chair said: “This investment substantially increases our financial strength and liquidity and attests to investor confidence in our ability to weather this unprecedented crisis, rapidly rescale our operations, and resume our record of profitable growth.”
L Catterton acquired OSW in 2015, when it bought Steiner; it later split the group, selling off OSW and keeping the Cortiva Institute, which offers training for massage and skincare therapists, and product lines including skincare brand Elemis and Ideal Image.
Marc Magliacano, L Catterton managing partner and OSW director, commented: “We’re proud to have the opportunity to increase our investment and further our partnership with OSW. We’ve worked with OSW since 2015 and now have re-committed our resources to assist them during these challenging times.”
Glenn Fusfield, OSW CEO, commented: “This investment will sustain the business through an extended period of cancelled voyages and fuel our continued innovation of service offerings and spa experiences.
“This will enable us to fully capitalise on our market position and growth opportunities when normal operations resume.”
The recent deal will see OSW issue approximately 18.8m common shares to Steiner in exchange for the cash infusion. Steiner will also expand its representation on the OSW company board to three of the 10 directors.
|
|
News |
1 to 12 of 8705 news stories |
|
|
27 Apr 2024
The Bannatyne Group says it has officially bounced back from the pandemic, with both turnover and profits restored to pre-2020 levels in 2023, according to its year-end results. Owned by former BBC Dragon’s Den investor, ... More
|
|
|
|
25 Apr 2024
Kerzner International has signed deals to operate two new Siro recovery hotels in Mexico and Saudi Arabia, following the launch of the inaugural Siro property in Dubai this February. Designed to offer guests a holistic ... More
|
|
|
|
24 Apr 2024
The US spa industry is continuing its upward trajectory, achieving an unprecedented milestone with a record-breaking revenue of US$21.3 billion in 2023, surpassing the previous high of US$20.1 billion in 2022. This data stems from ... More
|
|
|
|
24 Apr 2024
Short-term incentives to exercise, such as using daily reminders, rewards or games, can lead to sustained increases in activity, according to new research. Researchers found that even a simple daily reminder encouraged people to move ... More
|
|
|
|
24 Apr 2024
Spa and wellness veteran Shannon Malave has been named spa director at iconic US spa destination Mohonk Mountain House. Based in New York’s verdant Hudson Valley and founded in 1869, Mohonk is a historic Victorian ... More
|
|
|
|
23 Apr 2024
Six Senses Kyoto opens its doors today, marking the eco-luxury hotel and spa operator’s entry into Japan and a new addition to its urban collection. Situated in the historic Higashiyama district, the 81-key hotel is ... More
|
|
|
|
23 Apr 2024
The UAE’s first-ever Dior Spa has officially launched at The Lana, Dubai – the Dorchester Collection’s debut property in the Middle East. Bathed in natural daylight on the hotel’s 29th floor, Dior Spa The Lana ... More
|
|
|
|
22 Apr 2024
The Sacred River Spa at Four Seasons Resort Bali at Sayan will reopen later this year with an all-new design plus enhanced treatments and experiences inspired by its river valley home. Nestled amid rich tropical ... More
|
|
|
|
18 Apr 2024
The Global Wellness Institute (GWI) has released new data on the US’ wellness economy, valuing it at US$1.8 trillion. According to the organisation's recent report – called The Global Wellness Economy: United States – the ... More
|
|
|
|
19 Apr 2024
UK sauna enthusiasts will converge at Galgorm Resort in Northern Ireland next week for the highly anticipated second annual UK Aufguss Championships. Hosted from 22-24, the event will see competitors from across the UK showcasing ... More
|
|
|
|
17 Apr 2024
Remedy Place, a US-based social wellness club brand, is poised for steady expansion in the coming years, with plans to open two new clubs annually moving forward Remedy Place is the brainchild of Dr Jonathan ... More
|
|
|
|
16 Apr 2024
Swiss longevity brand Clinique La Prairie (CLP) has inked a deal with Montara Hospitality Group to operate a resort at Tri Vananda – a purpose-built wellness community in Phuket, Thailand. Tri Vananda, envisioned as a ... More
|
|
|
|
|
Myrtha Wellness |
Myrtha Pools was founded in 1961 in Italy by the engineer Giorgio Colletto and through research and
[more] |
|
|
|
|