Starwood Completes Sale of Bliss Spa February 09, 2010
By Michael B. Baker
Starwood Hotels & Resorts Worldwide last month completed the sale of its Bliss spa and product division to resort and cruise ship spa operator Steiner Leisure Ltd.
Starwood, which has a portfolio of 982 properties around the world under brands including St. Regis,W, Westin, Le Meridien and Sheraton, closed the $100 million deal with the Nassau, Bahamas-based Steiner on Jan. 4. As a part of the agreement, W Hotels and St. Regis Hotels will remain the exclusive suppliers of Bliss and Remede spas and amenities, respectively.
"The sale is illustrative of our long-term strategy to focus purely on our growing and increasingly global hospitality business," according to Starwood president and CEO Frits van Paasschen. "At the same time, we are delighted that we will continue our business relationship with Bliss, which has provided a distinct point of view to our amenities and spas in our W and St. Regis hotels."
Starwood acquired Bliss at the beginning of 2004 from luxury goods supplier LVMH Moet Hennessy Louis Vuitton in order to launch the spa within the W brand.
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