XpresSpa Announces Renewed Partnership and Successful Mediation of Long-Standing Dispute at Hartsfield-Jackson Atlanta Intern...

Date : 12/05/2019 @ 2:00PM
Source : GlobeNewswire Inc.
Stock : XpresSpa Group Inc (XSPA)
Quote : 1.0  0.0 (0.00%) @ 9:00AM

XpresSpa Announces Renewed Partnership and Successful Mediation of Long-Standing Dispute at Hartsfield-Jackson Atlanta Intern...

XpresSpa (NASDAQ:XSPA)
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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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