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Starwood Hotels & Resorts 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.
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