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
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