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Starwood Hotels & Resorts Worldwide, Inc. announced that the company has signed an agreement to sell the Bliss spa and product company to Steiner Leisure Limited for $100 million. As part of the transaction, Bliss and Remede spas and amenities will remain exclusive to Starwood in the hotel category at W Hotels and St. Regis Hotels respectively.
“This sale is illustrative of our long term strategy to focus purely on our growing and increasingly global hospitality business,” said Frits van Paasschen, President and CEO of Starwood. “At the same time, we are delighted that we will continue our business relationship with Bliss, which has provided a distinct point of view to our amenities and spas in our W and St. Regis hotels.”
This agreement is in addition to the purchase and sale agreements signed during the third quarter for expected cash consideration of approximately $125 million. The sales of these other non-core assets are also expected to close during the fourth quarter of this year, subject to customary closing conditions.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
