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Steiner Leisure Limited Announces Agreement to Build and Operate a New Spa at the Waikoloa Beach Marriott Resort on the Big Island of Hawaii

Posted on: Friday, 22 July 2005, 09:01 CDT

Steiner Leisure Limited (STNR) (NASDAQ:STNR) today announced that Mandara Spa, its premier resort spa brand, has entered into an agreement to build out and operate a new luxury spa facility at the Waikoloa Beach Marriott Resort in Waikoloa, Hawaii. The resort is owned by Blackstone Real Estate/Waikoloa LLC and managed by Marriott Hotel Services, Inc. Located on the Big Island of Hawaii, the 545 guest room Waikoloa Beach Marriott Resort is a premier resort complex situated on oceanfront property centrally located within the resort area of Waikoloa.

The term of Mandara's lease of the spa facilities will be 15 years (including renewals at the option of Mandara). The new spa will blend the distinctive architecture of the resort with Mandara's signature contemporary-Balinese elements. The two story spa facility will include treatment rooms and couples suites accented with Balinese inspired art and textiles. Additional features of the spa include men's and women's changing lounges, steam rooms, a relaxation lounge, a fitness center, a retail boutique, a sophisticated nail salon and a "hair spa" offering a complete array of beauty services in a single setting. A full compliment of spa services custom tailored for the unique Hawaiian setting and spa environment will be featured. Under the agreement, Mandara has agreed to pay approximately $430,000 towards the build out of the spa.

Mandara estimates that the new spa will open in November 2005.

Leonard Fluxman, President and Chief Executive Officer of Steiner Leisure, said, "Marriott operates some of the finest resort facilities in the world. The Waikoloa Beach Marriott Resort on the Kohala Coast of the Big Island of Hawaii is no exception and we are extremely pleased to continue to build our Mandara relationship with Marriott at this magnificent destination."

Steiner Leisure Limited is a worldwide provider of spa services. The Company's operations include spas and salons on 120 cruise ships, and in 52 resort spas and two luxury day spas. Our cruise line and land-based resort customers include Carnival Cruise Lines, Celebrity Cruises, Crystal Cruises, Cunard/Seabourn Cruise Lines, Harrah's Entertainment, Hilton Hotels, Holland America Line, Kerzner International, Marriott Hotels, Norwegian Cruise Lines, Princess Cruises and Royal Caribbean Cruises. Our Elemis Limited subsidiary manufactures its Elemis(R) brand products for use in our cruise ship and land-based spas. This top quality European line of beauty products is also distributed worldwide to exclusive hotels, salons, health clubs and destination spas. Elemis(R), as well as other Steiner products, including La Therapie(R), Ionithermie, and Steiner Hair Care, are available at http://www.timetospa.com.

Steiner Leisure also owns and operates three post secondary schools (comprised of a total of seven campuses) located in Miami, Fort Lauderdale, Orlando and Sarasota, Florida; Baltimore, Maryland; York, Pennsylvania and Charlottesville, Virginia. Offering degree and non-degree programs in massage therapy and skin care, these schools train and qualify spa professionals for health and beauty positions within the Steiner family of companies or other industry entities.

Forward-Looking Statements

Our statements with respect to the proposed services at, and the estimated opening date of, our operations at the above resort may be deemed to be forward-looking statements under the federal securities laws. Such statements do not guarantee the timely construction or final characteristics of this new spa as known and unknown risks and other factors may preclude results that match these statements. Such risks and factors include uncertainties beyond our control that could adversely affect the timely construction and final characteristics of land based spas such as at the Waikoloa Beach Marriott Resort, including, our lack of control over the construction and the venue where the spas will be located 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 2004.

Source: Business Wire

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