February 21, 2007 09:16 AM Eastern Time
Steiner Leisure Limited Announces Agreement to Operate a Luxury Spa at the Presidente InterContinental Cozumel Resort & Spa, in Cozumel, Quintana Roo
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NASSAU, The Bahamas--(BUSINESS WIRE)--Steiner Leisure Limited (NASDAQ:STNR) today announced that its luxury
resort spa division, Mandara Spa, has entered into an agreement to
operate a luxury spa facility located at the Presidente InterContinental
Cozumel Resort & Spa in Cozumel, Quintana Roo, Mexico.
The luxury boutique spa will feature unique signature treatments by
Mandara Spa and will offer local, Balinese and Elemis beauty treatments.
Steiner Leisure will be required to expend $400,000 to acquire the
rights to the spa lease from the current operator of the spa and may
spend up to an additional $100,000 in connection with refurbishing of
The spa is estimated to open by the end of February 2007. The term of
the agreement is three years, and Mandara has an option to renew the
agreement for two additional three-year periods.
This luxurious resort re-opened in November 2006, after undergoing
extensive upgrading. The property is set along half a mile of sandy
beach and against the history-filled backdrop and natural wonders of
Cozumel. The resort offers 220 oversized guest rooms with balconies or
terraces, most or which overlook the Caribbean Sea, including two
presidential suites and five reef suites with oversized whirlpool tubs.
Leonard Fluxman, President and Chief Executive Officer of Steiner
Leisure, said, "We are delighted to continue expanding our collaboration
with the prestigious Presidente InterContinental hotel and resort group.
We look forward to introducing our unique approach to therapeutic luxury
to another member of this top quality family of hotels."
Steiner Leisure Limited is a worldwide provider of spa services. The
Company's operations include spas and salons on 126 cruise ships, and in
53 resort spas and two luxury day spas. Our cruise line and land-based
resort customers include Carnival Cruise Lines, Caesars Entertainment,
Celebrity Cruises, Crystal Cruises, Cunard/Seabourn Cruise Lines, Hilton
Hotels, Holland America Line, Kerzner International, Marriott Hotels,
Norwegian Cruise Lines, Princess Cruises, Ritz Carlton, and Royal
Caribbean Cruises. Our Elemis Limited subsidiary manufactures its Elemis®
brand products for use in our cruise ship and land-based spas. This top
quality European line of beauty products is also distributed worldwide
to exclusive hotels, salons, health clubs and destination spas. Elemis®,
as well as other Steiner products, including La Therapie®,
Ionithermie, and Steiner Hair Care, are available at http://www.timetospa.com.
Steiner Leisure owns and operates four post secondary schools (comprised
of a total of 14 campuses) located in Miami, Orlando, Pompano Beach and
Sarasota, Florida; Baltimore, Maryland; Charlottesville, Virginia; York,
Pennsylvania; Salt Lake City and Lindon, Utah; Las Vegas, Nevada; Tempe
and Phoenix, Arizona; and Westminster and Aurora, Colorado. Offering
degree and non-degree programs in massage therapy and, in some cases,
skin care, these schools train and qualify spa professionals for health
and beauty positions within the Steiner family of companies or other
Our statements with respect to our proposed services at, and the
estimated opening date of, our operations at the above resort may be
deemed to be forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Such statements do not
guarantee the timely construction or final characteristics of this new
spa, since known and unknown risks and other factors may preclude
results that match these statements. Such risks and factors include
uncertainties beyond our control that could adversely affect the timely
construction and final characteristics of resort spa facilities such as
at the Presidente InterContinental Resort and Spa, including, among
other things, our lack of control over the spa construction work and
possible weather-related delays. Other risks are described in our
filings with the Securities and Exchange Commission, including our
Annual Report on Form 10-K for 2005.