Business
XpresSpa Announces Renewed Partnership and Successful Mediation of Long-Standing Dispute at Hartsfield-Jackson Atlanta International Airport
City of Atlanta Grants New Lease Terms for Company’s High Volume Spas in Concourses A and C for Five Additional Years NEW YORK, Dec. 05, 2019 (GLOBE NEWSWIRE)
About this update from Xwell, Inc.
[{"type":"text","content":"City of Atlanta Grants New Lease Terms for Company’s High Volume Spas in Concourses A and C for Five Additional Years\nNEW YORK, Dec. 05, 2019 (GLOBE NEWSWIRE) -- 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.\n 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, Xpres...