Starwood to Sell Bliss Spas to Steiner for $100 Million

Starwood Hotels & Resorts Worldwide, Inc. has signed an agreement to sell the Bliss spa and product company to Steiner Leisure Limited for $100 million. As part of the transaction, Bliss and Remede spas and amenities will remain exclusive to Starwood in the hotel category at W Hotels and St. Regis Hotels respectively. The agreement is in addition to the purchase and sale agreements signed during the third quarter for expected cash consideration of approximately $125 million. The sales of these other non-core assets are also expected to close during the fourth quarter of this year, subject to customary closing conditions. For more information, visit www.starwoodhotels.com.