Steiner buys Bliss!

[Beautiful stud]

http://www.spaclique.com/professional-interest-spa-news/202-lead-story/2049-steiner-leisure-limited.html

 

[RealDeal336]

Steiner buys Bliss!

I have a client who always goes to Bliss in Soho whenever she's in NY. Not sure that has anything to do with this thread, other than the name and info, but adding it in for the heck of it. I'm also not sure that I personally care much that Steiner purchased them, but I guess on some level it's important to be aware, right?

 

[Jona B]

Steiner buys Bliss!

Most MTs won't care or be affected, but it never hurts to know what is going on in the biz.

It does have several major impacts -

1) gives steiner a new venue to place students from its schools, and may lead them to buy a school in a market like NYC where Bliss is a major employer
2) Bliss sold the brands and the spa operations -- steiner had avoided operating spas (other than cruise ships) but now they bought major capabilities and know how in running day spas and hotel spas. Watch them open Elemis spas with this new capability -- so they will increase their position as an employer of MTs and Esty's (the Bliss/W and Remede/St. Regis affiliations remain exclusive for 10 years, so this won't change the growth of those spas, just who owns and operates them)
3) Anyone working in a Bliss spa will probably face a more sales-focused role. Steiner's success at sea is based upon their high sales-to-service ratio and they are very aggressive with their sales goals for techs. This is where they see considerable upside in the Bliss acquisition and paid 18+x earnings. If you don't like to sell products, Bliss won't be a option for where to work
4) Anyone working in a hotel spa needs to keep their ear to the ground. Starwood unloading Bliss signals that spas have lost their luster to hotel operations. They will be looking for new operating models and there will be several changes of management/ownership of hotel spas in the next 18 months. Our own company's growth in hotel spa operations -- replacing well-established management companies like WTS and American Leisure is part of the same trend.