April 30, 2008 09:56 AM Eastern Time
Steiner Leisure Limited Announces Agreement to Build a New Spa at Club Med Bali
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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 build and operate a new deluxe spa facility at the Club Med Bali, Bali, Indonesia.
Steiner Leisure will invest $800,000 to create this new spa, which will replace the existing spa operated by Mandara Spa since 1998.
The spa is anticipated to open by the end of December 2008. The term of the agreement to operate this new luxury spa is for ten years.
The new Club Med Spa Village will offer Mandara Spa’s signature Balinese treatments and therapies. The spa will be comprised of 13 treatment rooms in total: nine single rooms with private outdoor rest areas and four double villas featuring an outdoor bale, private steam shower, changing room and oversized bath.
The spa will also feature a retail boutique, separate manicure-pedicure and reflexology areas, an open sun deck and a relaxation lounge with a library.
Located in the secured gated resort community of Nusa Dua, on the southeast coast of Bali, the resort is one of Club Med’s most beautiful and offers a total of 400 rooms and suites with an extensive range of leisure, sports and recreational activities.
Leonard Fluxman, President and Chief Executive Officer of Steiner Leisure, said, "We are delighted to continue our long-standing relationship with the Club Med group. We look forward to improving the already beautiful facility at this Bali location and integrating some of our newest ideas into this exciting project.”
Steiner Leisure Limited is a worldwide provider of spa services. The Company’s operations include spas and salons on 127 cruise ships, and in 51 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 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 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 industry entities.
Our statements with respect to the proposed features at and the estimated opening date of our operations at the above resort spa 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 resort or 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 facilities such as at Club Med Bali, including, among other things, our lack of control over the construction and the venue where the spas will be located 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 2007. We undertake no obligation to publicly update or revise any of such forward-looking statements.