NASSAU, The Bahamas, Dec. 10, 2010 (GLOBE NEWSWIRE) -- Steiner Leisure Limited (Nasdaq:STNR) today announced entry into a lease agreement with Tropicana Las Vegas Hotel and Casino to be the exclusive operator of the spa facility at the renovated and expanded Tropicana Las Vegas. The term of this agreement is ten years from the opening date of the spa with Steiner's option to renew the agreement for two five-year terms. The Tropicana Las Vegas is centrally located in the heart of the "Las Vegas Strip" and offers a variety of restaurants, lounges, tropical gardens, entertainment and other amenities. The Tropicana is undergoing a large-scale transformation, including all new rooms and suites, new restaurants and a new convention center, as well as the addition of the Nikki Beach™ nightclub and Beach Club and the newly created spa facility. In addition to being the exclusive provider of spa, salon, beauty and fitness services at the hotel, Steiner will assist with the design concept for the spa. Steiner will contribute up to $5.2 million toward the construction of the spa facility. Leonard Fluxman, President and Chief Executive Officer of Steiner, said, "The Tropicana is now in the process of a major metamorphosis, with a South Beach, Miami tropical theme, which promises to make this classic element of the Las Vegas experience even more attractive to customers. We are proud to have a role in Tropicana's transformation and look forward to enhancing the vacation experience of Tropicana's guests with our highly regarded beauty and wellness treatments and products." "We are designing one of the most beautiful spas and fitness centers in Las Vegas, with a casual elegance that matches the rest of our resort. We are thrilled to have an operator of the caliber of Steiner," said Tom McCartney, Tropicana's President and Chief Operating Officer.
Steiner Leisure Limited is a worldwide provider of spa services. The Company's operations include shipboard and land-based spas and salons. We provide our services on 138 cruise ships and at 70 land-based spas. Our land-based spas include resort spas, urban hotel spas and day spas and are operated under our Elemis(R), Mandara(R), Chavana(R), Bliss(R) and Remede(R) brands. In addition, a total of 29 resort and hotel spas are operated under our brands by third parties pursuant to license agreements with the Company. Our cruise line and land-based resort customers include Carnival Cruise Lines, Celebrity Cruises, Crystal Cruises, Harrah's Entertainment, Hilton Hotels, Holland America Line, InterContinental Hotels and Resorts, Kerzner International, Loews Hotels, Marriott Hotels, Nikko Hotels, Norwegian Cruise Line, Planet Hollywood, Princess Cruises, Royal Caribbean Cruises, Seabourn Cruise Lines, Sofitel Luxury Hotels, St. Regis Hotels, W Hotels and Westin Hotels and Resorts. Our award-winning Elemis, Bliss and Remede brands are used and sold in our cruise ship and/or land-based spas and are also distributed worldwide to exclusive hotels, salons, health clubs, department stores and destination spas. Our products are also available at www.timetospa.com and www.blissworld.com.Steiner Leisure also owns and operates five post secondary schools (comprised of a total of 17 campuses) located in Miami, Orlando, Pompano Beach and Sarasota, Florida; Baltimore, Maryland; Charlottesville, Virginia; York, Pennsylvania; Salt Lake City and Lindon, Utah; Las Vegas, Nevada; Tempe and Phoenix, Arizona; Westminster and Aurora, Colorado; and Groton, Newington and Westport, Connecticut. Offering degree and non-degree programs in massage therapy and, in some cases, skin care, these schools train and qualify spa professionals for health and beauty positions within the Steiner family of companies or other industry entities. About Tropicana Las Vegas In the heart of the famed Las Vegas Strip, Tropicana Las Vegas is in the midst of a $180 million Phase 1 transformation scheduled for substantial completion in December 2010. The South Beach inspired changes will include all new, best-in-class hotel rooms and suites, a new casino, 60,000 square feet of flexible meeting, catering and exhibit hall space, more than four acres of tropical pool area, new restaurants and bars, a new poker room, and a state-of-the-art race and sports book. Exceptional entertainment includes Brad Garrett's Comedy Club and The Las Vegas Mob Experience, an interactive entertainment experience opening December 2010.
In addition to this transformation, the world's largest Nikki Beach™ will debut in spring 2011 making it the city's hottest destination. Nikki Beach™ at Tropicana Las Vegas will be the ultimate entertainment experience as the ultra lounge, nightclub and Cafe Nikki flow into the four-acre beach club.Forward-Looking Statements Our statements with respect to the completion of the expansion of the Tropicana Las Vegas property, including the design and construction of the spa facility, may be deemed to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements do not guarantee the completion of the expansion as scheduled, since known and unknown risks and other factors may preclude results that match this statement. Such risks and factors include uncertainties beyond our control that could adversely affect the construction and completion of spa facilities such as at the Tropicana Las Vegas, including, among other things, our lack of involvement or control over the construction work and possible weather-related delays. Other risks are described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for 2009. We undertake no obligation to publicly update or revise any of such forward-looking statements.
CONTACT: Steiner Leisure Limited Leonard I. Fluxman, President and Chief Executive Officer (305) 358-9002, ext. 215