XpresSpa Group Board of Directors Elects Chairman

NEW YORK, March 05, 2018 (GLOBE NEWSWIRE) -- XpresSpa Group Inc. (Nasdaq:XSPA), a health and wellness holding company, today announced that its Board of Directors has elected Bruce T. Bernstein as Chairman of the Board.

Mr. Bernstein has served on XpresSpa’s Board since February 2016, and as an independent director of the audit and compensation committees. Mr. Bernstein provides over thirty years of broad global business experience. Mr. Bernstein’s experience spans both startups and public companies across the domains of finance, deal structure, supply chain and branding.

Andrew Perlman, Chief Executive Officer of XpresSpa Group, said, ”Bruce’s counsel, judgement, leadership and operating experience over the past two years have been proven to be particularly valuable as we focus on expanding our footprint and driving toward profitability in the health and wellness space. The Board and I are extremely pleased Bruce agreed to accept this position.”

Mr. Bernstein said, “This is an exciting time in the growth history of XpresSpa. I look forward to continuing to work with the management team to guide our operations and strategy execution. Additionally, focus will be placed on proven strategies that will unlock growth and faster margin progression, all laddering up to achieving long-term growth and sustainable value creation that will enhance shareholder value.”

In previous filings and conference calls, XpresSpa Group has made clear its intentions to become a focused health and wellness company. Mr. Bernstein will work with the management team to assist in simplifying operations as it sheds its non-core assets, growth and operational planning, and delivering greater organizational flexibility in a cost-efficient manner.

About XpresSpa Group, Inc.
XpresSpa Group, Inc. (Nasdaq:XSPA) is a health and wellness holding company. XpresSpa Group’s core asset, XpresSpa, is the world’s largest airport spa company, with 57 locations in 23 airports globally (as of January 8, 2018), including a one off-airport spa at Westfield World Trade Center in New York City. XpresSpa offers services that are tailored specifically to the busy 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, Holland, and the United Arab Emirates. XpresSpa Group’s non-core assets include Group Mobile, Infomedia and intellectual property assets. To learn more about XpresSpa Group, visit: www.XpresSpaGroup.com. To learn more about XpresSpa, visit www.XpresSpa.com.

XpresSpa Group
Jody Burfening/Carolyn Capaccio

Source:XpresSpa Group, Inc.