Business
XWELL Announces Plans to Open an XpresSpa in THE PENN DISTRICT
Extends reach out-of-airport in one of the busiest transit hubs in the world in partnership with Vornado Realty Trust NEW YORK, Jan. 04, 2024 (GLOBE NEWSWIRE)
About this update from Xwell, Inc.
[{"type":"text","content":"Extends reach out-of-airport in one of the busiest transit hubs in the world in partnership with Vornado Realty Trust\nNEW YORK, Jan. 04, 2024 (GLOBE NEWSWIRE) -- XWELL, Inc. (Nasdaq: XWEL) (\"XWELL\" or the \"Company\"), an authority in wellness solutions for people on the go, today announced it signed a lease agreement with Vornado Realty Trust to open an XpresSpa location in Penn Station, located in the heart of New York’s newly revitalized PENN DISTRICT. The tech-forward, labor-lite out-of-airport spa is expected to open in the first quarter of 2024 and will serve commuters, neighborhood locals, and tourists with wellness-focused retail, autonomous massage, and nail care services, enabling seamless and efficient experiences for time-crunched New York City travelers. “Today’s announcement marks another milestone in our strategy to reinvent XWELL as a destination for wellness, underscoring our focus on smart expansion and growing our retail revenue,” said XWELL Chief Executive Officer Scott Milford. “As we continue to look at ways to grow outside of airport environments with new businesses, including Naples Wax Centers and our soon-to-open TreatStudios, our goal is to provide a moment of relaxation to the more than 600,000 commuters from New York and New Jersey who use Penn Station on a daily basis.” Technology continues to play a critical role in the expanding wellness market and is a primary driver behind XpresSpa’s desire to expand in venues like rail stations. Services such as autonomous massage chairs represented nearly 10% of all XpresSpa services in 2023. Specifically, zero gravity chairs bring in much higher margins and outsell the traditional lounger 6-to-1. “We’re pleased to welcome XpresSpa to Penn Station, and equally excited that this location will be the first of its kind to employ an innovative, high-tech model to service customers,” said Ed Hogan, Executive Vice President, Retail Leasing at Vornado Realty Trust. “THE PENN DISTRICT offers neighborhood locals, commuters, and visitors the highest level of hospitality, from elevated food and beverage to premier offices, and now, efficient wellness treatments.” The move comes as demand for passenger rail is increasing across the US, with Amtrak reporting in November 2023 that ridership increased nearly 25% in FY23 from FY22. “We look forward to continuing to serve p...