XpresSpa Announces Renewed Partnership and Successful Mediation of Long-Standing Dispute at Hartsfield-Jackson Atlanta Intern...
06 December 2019 - 1:00AM
XpresSpa Group, Inc. (Nasdaq: XSPA), a health and wellness company,
Cordial Endeavor Concessions of Atlanta, LLC, and the City of
Atlanta, together announced that the Atlanta City Council has
approved new five-year terms for XpresSpa’s leases on two of its
busiest concourses at the Hartsfield-Jackson Atlanta International
Airport, Concourses A and C. The new lease terms facilitate the
Settlement Agreement among these parties, pursuant to which
XpresSpa has agreed to resume its joint venture with Cordial
Endeavor Concessions of Atlanta. This agreement brings to a close
six years of mediation, Federal Aviation Administration (“FAA”)
proceedings and litigation. The FAA is in agreement with the
Settlement Agreement, and the parties involved will seek dismissal
of all pending litigation.
Doug Satzman, XpresSpa Group CEO, stated, “We
are pleased to be putting this costly and time-consuming matter
behind us and are excited to continue operating our very busy spas
in Concourses A and C at Hartsfield-Jackson Atlanta International
Airport for five additional years. With the return of our partner,
Cordial Endeavor Concessions of Atlanta, we have decided together
to invest in remodeling these spas so that we can elevate brand
perceptions, and further comfort and delight travelers at one of
the busiest airports in the world.”
Mr. Satzman added, “We will also be
strengthening our store portfolio and deepening our commitment to
the strategically important Atlanta market through the opening of
our new spa in Concourse E before Christmas.”
Shelia Edwards, Cordial Endeavor Concessions of
Atlanta’s Managing Partner, stated, “Cordial Endeavor Concessions
of Atlanta is grateful for the leadership of the executive and
legislative branches of the City of Atlanta. Through leadership,
the City of Atlanta has brought about a positive resolution to this
matter. As a woman and minority owned business, we are appreciative
for the opportunity to continue our participation in the ACDBE
program with XpresSpa at Hartsfield-Jackson Atlanta International
Airport.”
About XpresSpa Group, Inc.
XpresSpa Group, Inc. (Nasdaq: XSPA) is a health
and wellness holding company. XpresSpa Group’s core asset,
XpresSpa, is a leading airport retailer of spa services and related
products, with 52 locations in 25 airports globally. XpresSpa
offers services that are tailored specifically to the busy travel
customer. XpresSpa is committed to providing exceptional customer
experiences with its innovative premium spa services, as well as
exclusive luxury travel products and accessories. XpresSpa serves
almost one million customers per year at its locations in the
United States, Netherlands, and the United Arab Emirates. To learn
more about XpresSpa Group, visit: www.XpresSpaGroup.com. To
learn more about XpresSpa, visit www.XpresSpa.com
Forward-Looking Statements
This press release contains "forward-looking"
statements within the meaning of Section 27A of the Securities Act
of 1933, and Section 21E of the Securities Exchange Act of 1934.
These include statements preceded by, followed by or that otherwise
include the words "believes," "expects," "anticipates,"
"estimates," "projects," "intends," "should," "seeks," "future,"
"continue," or the negative of such terms, or other comparable
terminology. Forward-looking statements relating to expectations
about future results or events are based upon information available
to XpresSpa Group as of today's date, and are not guarantees of the
future performance of the company, and actual results may vary
materially from the results and expectations discussed. Additional
information concerning these and other risks is contained in
XpresSpa Group’s most recently filed Annual Report on Form 10-K,
Quarterly Report on Form 10-Q, recent Current Reports on Form 8-K
and other SEC filings. All subsequent written and oral
forward-looking statements concerning XpresSpa Group, or other
matters and attributable to XpresSpa Group or any person acting on
its behalf are expressly qualified in their entirety by the
cautionary statements above. XpresSpa Group does not undertake any
obligation to publicly update any of these forward-looking
statements to reflect events or circumstances that may arise after
the date hereof.
Investor Relations:ICRRaphael
Gross(203) 682-8253
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