Steiner Leisure Limited (STNR) today announced that its spa brand Chavana Spa has entered into a new agreement to operate a spa facility at the Chaaya Lagoon Hakura Huraa located in Memmu Atoll, south of the Maldives.
The spa is scheduled to commence operation in September 2011, with a full brand conversion to Chavana Spa anticipated to be completed by November 2011. The term of the agreement is five years with a two year extension if there has been no default under the agreement. In connection with this agreement, Steiner Leisure Limited will invest a total of USD $400,000 in the project.
Unique signature treatments by Chavana Spa will be provided. Among the newly completed facilities will be a dedicated reception and retail area and five double treatment villas, with amenities including baths and steam showers.
Hakura Huraa is a pristine coral island located 145 km and 45 minutes by sea plane from Male, the capital of the Maldives. The spectacular beach hideaway features 70 over-water bungalows and ten beach bungalows. Resort amenities include a restaurant, lounge and bar, as well as a variety of recreation and water sports facilities, including diving and snorkeling.
Leonard Fluxman, President and Chief Executive Officer of Steiner Leisure, said, "We are excited about launching our second Chavana Spa with Chaaya Hotels in the Maldives, and we are equally delighted to continue expanding our collaboration with John Keells PLC."
Chavana Spa offers a streamlined treatment menu that welcomes all to experience the freshness and energy of Balinese spa spirit. The Chavana concept is aimed at four and five star hotels and resorts and is intended to allow guests to enjoy a quality spa experience at a reasonable price.
Steiner Leisure Limited is a worldwide provider of spa services. The Company's operations include shipboard and land-based spas and salons. We provide our services on 155 cruise ships and at 69 land-based spas. Our land-based spas include resort spas, urban hotel spas and day spas and are operated under our Elemis(R), Mandara(R), Chavana(R), Bliss(R) and Remede(R) brands. In addition, a total of 28 resort and hotel spas are operated under our brands by third parties pursuant to license agreements with the Company. Our cruise line and land-based resort customers include Azamara Club Cruises, Caesar's Entertainment, Carnival Cruise Lines, Celebrity Cruises, Crystal Cruises, Cunard Cruise Line, Hilton Hotels, Holland America Line, InterContinental Hotels and Resorts, Kerzner International, Loews Hotels, Marriott Hotels, Nikko Hotels, Norwegian Cruise Line, P&O Cruises, Planet Hollywood, Princess Cruises, Royal Caribbean Cruises, Seabourn Cruise Lines, Silversea Cruises, Sofitel Luxury Hotels, St. Regis Hotels, Thomson Cruises, W Hotels and Resorts, Westin Hotels and Resorts and Windstar Cruises. Our award-winning Elemis, Bliss and Remede brands are used and sold in our cruise ship and/or land-based spas and are also distributed worldwide to exclusive hotels, salons, health clubs, department stores and destination spas. Our products are also available at ww.timetospa.com and www.blissworld.com.
Steiner Leisure also owns and operates five post secondary schools (comprised of a total of 17 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; Westminster and Aurora, Colorado; and Groton, Newington and Westport, Connecticut. 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.
Forward-Looking Statements
Our statements with respect to the anticipated commencement of operations and the full brand conversion of the Chavana Spa at the Chaaya Lagoon Hakura Huraa 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 commencement of operations or full brand conversion as scheduled, since known and unknown risks and other factors may preclude results that match this statement. Such risks and factors include uncertainties beyond our control that could adversely affect the commencement of operations and/or full brand conversion at facilities such as at the Chaaya Lagoon Hakura Huraa, including, among other things, our lack of control over the 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 F
orm 10-K for 2010. We undertake no obligation to publicly update or revise any of such forward-looking statements.