OneSpaWorld Announces New Contract with Norwegian Cruise Line Holdings

Rhea-AI Summary

OneSpaWorld Holdings Limited (NASDAQ: OSW) announced a seven-year exclusive service agreement with Norwegian Cruise Line Holdings. This contract covers 29 existing ships and 8 new ships, making OSW the exclusive provider of wellness services across all ships in NCLH's fleet. The agreement allows OSW to continue providing a range of wellness services, including spa treatments through its Mandara brand. Leaders from both companies express optimism regarding the partnership, emphasizing their commitment to enhancing guest experiences at sea.

Positive

• Seven-year exclusive agreement with Norwegian Cruise Line Holdings enhances long-term business outlook.
• Covers 29 existing ships and 8 new ships, expanding market share.
• Continued provision of premium wellness services increases competitive advantage.

Negative

• None.

Contract Includes All Ships Across Norwegian’s Three Award Winning Brands

NASSAU, Bahamas--(BUSINESS WIRE)-- OneSpaWorld Holdings Limited (NASDAQ: OSW), the pre-eminent global provider of health and wellness services and products onboard cruise ships and in destination resorts around the world, today announced entry into a new agreement with Norwegian Cruise Line Holdings ( “NCLH” and including its subsidiaries and brands). The new agreement, pursuant to which OSW is the exclusive provider of spa, medi-spa, fitness, beauty and wellness services, has a seven-year term and covers the 29 ships currently sailing in the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises fleets, as well as the eight new ships anticipated to come into service during the term.

Under the new agreement, OSW will continue in its longstanding role as NCLH’s exclusive partner in the provision of spa, beauty, nutrition, fitness, and related health, wellness, and medi-spa services, including through its Mandara brand for Norwegian Cruise Line. Mandara will continue to sell the award-winning ELEMIS range of skincare products and provide acupuncture and relaxation treatments and medi-spa services administered by medically licensed professionals, including wrinkle relaxers, dermal fillers, skin rejuvenation, fat reduction, and I.V. therapy.

Leonard Fluxman, Executive Chairman, Chief Executive Officer and President of OSW, said, “We are very excited to announce this new agreement, which extends our longstanding and mutually rewarding partnership with NCLH. Following our highly successful collaborative return to service, supported by the highly capable and forward-thinking NCLH team, this agreement will enable us to continue our phenomenal results to date, and represents a renewal of our commitment to growth and the continuation of conceptualizing and delivering the most innovative experiences at sea to NCLH’s guests. Further, with this agreement, we will once again increase our leading global market share at sea. We look forward to further progressing in our successful relationship with NCLH as we continue to enhance guests’ vacations though our health and wellness experiences.”

Commenting on the announcement, Frank Del Rio, President and Chief Executive Officer of Norwegian Cruise Line Holdings stated, “We are pleased to extend and expand our partnership with OneSpaWorld as the exclusive provider of our onboard wellness centers. For nearly 25 years we have worked together to elevate our guests’ experience across our fleet, providing top notch service and an incredible breadth of health and wellness options. We look forward to continuing this successful partnership and collectively finding new and innovative ways to enhance our onboard spa and wellness offerings.”

About OneSpaWorld:
Headquartered in Nassau, Bahamas, OneSpaWorld is one of the largest health and wellness services companies in the world. OneSpaWorld’s distinguished health and wellness centers offer guests a comprehensive suite of premium health, wellness, fitness and beauty services, treatments, and products currently onboard 178 cruise ships and at 51 destination resorts around the world. OneSpaWorld holds the leading market position within the cruise line industry of the historically fast-growing international leisure market and has been built upon its exceptional service standards, expansive global recruitment, training and logistics platforms, irreplicable operating infrastructure, extraordinary team and a history of service and product innovation that has enhanced its guests’ personal care experiences while vacationing for over 65 years.

Forward-Looking Statements:
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The expectations, estimates, and projections of the Company may differ from its actual results and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” or the negative or other variations thereof and similar expressions are intended to identify such forward looking statements. These forward-looking statements include, without limitation, expectations with respect to future performance of the Company, including projected financial information (which is not audited or reviewed by the Company’s auditors), and the future plans, operations and opportunities for the Company and other statements that are not historical facts. These statements are based on the current expectations of the Company’s management and are not predictions of actual performance. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Factors that may cause such differences include, but are not limited to: the impact of the COVID-19 pandemic on our business, operations, results of operations and financial condition, including liquidity for the foreseeable future; the demand for the Company’s services together with the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors or changes in the business environment in which the Company operates; changes in consumer preferences or the market for the Company’s services; changes in applicable laws or regulations; the availability or competition for opportunities for expansion of the Company’s business; difficulties of managing growth profitably; the loss of one or more members of the Company’s management team; loss of a major customer and other risks and uncertainties included from time to time in the Company’s reports (including all amendments to those reports) filed with the SEC. The Company cautions that the foregoing list of factors is not exclusive. You should not place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this communication.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221128005072/en/

ICR:

Investors:

Allison Malkin, 203-682-8225

allison.malkin@icrinc.com

Follow OneSpaWorld:

Instagram: @onespaworld

Twitter: @onespaworld

LinkedIn: OneSpaWorld

Facebook: @onespaworld

Source: OneSpaWorld Holdings Limited

FAQ

What is the new contract between OneSpaWorld and Norwegian Cruise Line Holdings?

OneSpaWorld signed a seven-year exclusive service agreement with Norwegian Cruise Line Holdings to provide wellness services aboard their ships.

How many ships are included in the OneSpaWorld and NCLH agreement?

The agreement includes 29 current ships and 8 new ships from Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises.

What wellness services will OneSpaWorld provide under this agreement?

OneSpaWorld will provide spa, medi-spa, fitness, beauty, and wellness services, including acupuncture and a range of skincare products.

How does the new contract impact OneSpaWorld's market position?

The contract is expected to increase OneSpaWorld's leading global market share in the cruise industry by solidifying its exclusive partnership with NCLH.

When was the agreement with Norwegian Cruise Line announced?

The agreement was announced on the date of the press release, November 28, 2022.