Business
OneSpaWorld Reports Third Quarter Fiscal 2021 Financial Results
Ends Third Quarter with Total Liquidity of $48 Million Company Expects Sailing to Resume on 70% of Contracted Ships by Year-End NASSAU, Bahamas--(BUSINESS
About this update from Onespaworld Holdings Limited
[{"type":"text","content":"\nEnds Third Quarter with Total Liquidity of $48 Million\n\nCompany Expects Sailing to Resume on 70% of Contracted Ships by Year-End\n\n NASSAU, Bahamas--(BUSINESS WIRE)--\nOneSpaWorld Holdings Limited (NASDAQ: OSW) (“OneSpaWorld,” or the “Company”), the pre-eminent global provider of health and wellness services and products on-board cruise ships and in destination resorts around the world, today announced its financial results for its third quarter and first nine months of fiscal 2021, ended September 30, 2021.\n\nLeonard Fluxman, Executive Chairman and Chief Executive Officer of OneSpaWorld, commented: “we are very pleased with our third quarter performance, which was highlighted by significant growth in revenue and operating profitability compared to prior year and the 2021 second quarter. We are greatly encouraged with the results of our enhanced business model that we worked so hard to implement prior to return-to-service. The quarter included significant progress on these initiatives to ensure a strong return to service and position OneSpaWorld for consistent future growth and profitability.\n\nMr. Fluxman added that “key operating metrics during the third quarter of 2021 also compared favorably with our third quarter 2019 performance, the most recent comparable period of normalized operations. For example, we saw the highest ever penetration rate of overall cruise ship guests serviced in our health and wellness centers. Additionally, pre-booking statistics and average guest spend handily exceeded 2019 performance. As of September 30th, we had welcomed back 1,653 staff members who began to serve onboard 78 of our 167 cruise ships. As a leader in training and certification, we were also pleased to reopen our London Wellness Academy during the quarter. The academy is experiencing strong demand from applicants with nearly 300 students trained since reopening. In addition, on land, our destination resort spas in North America generated positive EBITDA for the second consecutive quarter with staffing levels continuing to increase to meet higher-than-expected guest demand.”\n\nMr. Fluxman concluded, “we are also delighted that OneSpaWorld has extended its contract with Azamara through early 2026 covering all of Azamara’s ships sailing during the term of the agreement. As we look ahead, we continue to expect our exemplary staff ...