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XpresSpa Announces Relocation of Global Support Center to 254 W 31st Street

Move Will Yield Immediate Cost Savings of $0.3 Million Annually

NEW YORK, Oct. 21, 2019 (GLOBE NEWSWIRE) -- XpresSpa Group, Inc. (XSPA), a health and wellness company, announced today the relocation of the Company’s Global Support Center in New York City from 780 Third Avenue in midtown Manhattan to 254 W 31st Street, across from Penn Station.

Doug Satzman, XpresSpa Group CEO, stated, “We are excited by our move to this renovated office space, which provides our employees with great transportation options given its proximity to Penn Station, and will result in immediate savings to our annual rent expenditure. Strengthening our financial condition involves reducing costs at all levels of the organization and this corporate relocation demonstrates our determination to realize savings through all the means at our disposal.”

The new XpresSpa Global Support Center will house all corporate employees and will yield an annual cost reduction of $0.3 million in occupancy expenses.

About XpresSpa Group, Inc.

XpresSpa Group, Inc. (XSPA) is a health and wellness holding company. XpresSpa Group’s core asset, XpresSpa, is a leading airport retailer of spa services and related products, with 51 locations in 25 airports globally. XpresSpa offers services that are tailored specifically to the busy travel customer. XpresSpa is committed to providing exceptional customer experiences with its innovative premium spa services, as well as exclusive luxury travel products and accessories. XpresSpa serves almost one million customers per year at its locations in the United States, Netherlands, and the United Arab Emirates. To learn more about XpresSpa Group, visit: www.XpresSpaGroup.com. To learn more about XpresSpa, visit www.XpresSpa.com

Forward-Looking Statements

This press release may contain "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These include statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "estimates," "projects," "intends," "should," "seeks," "future," "continue," or the negative of such terms, or other comparable terminology. Forward-looking statements relating to expectations about future results or events are based upon information available to XpresSpa Group as of today's date, and are not guarantees of the future performance of the company, and actual results may vary materially from the results and expectations discussed. Additional information concerning these and other risks is contained in XpresSpa Group’s most recently filed Annual Report on Form 10-K, Quarterly Report on Form 10-Q, recent Current Reports on Form 8-K and other SEC filings. All subsequent written and oral forward-looking statements concerning XpresSpa Group, or other matters and attributable to XpresSpa Group or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. XpresSpa Group does not undertake any obligation to publicly update any of these forward-looking statements to reflect events or circumstances that may arise after the date hereof.

Investor Relations:
ICR
Raphael Gross
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