OSW - Earnings call transcript Q1 2020 | OneSpaWorld Holdings Limited

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Operator

Thank you for standing by. This is the conference operator. Welcome to the OneSpaWorld Holdings First Quarter 2020 Earnings Conference Call. [Operator Instructions] I would now like to turn the conference over to Allison Malkin of ICR. Please go ahead.

Allison Malkin

you. Thank welcome quarter and call XXXX OneSpaWorld’s webcast. and to morning fiscal first earnings Good

statements I alter and to on results judgment place uncertain call reflect of our ongoing not would certain current undue begin, should forward-looking could have position. a outlook. conditions statements. we affecting Before like of may actual of The Accordingly, continues on pandemic number cash statements. from information deemed constitute our to available current materially analysis and flow The our maybe reliance financial COVID-XX as statements significant its remind materially only nature made on expectations on and based operations, you forward-looking business. webcast factors and today’s impact These impact today dynamic and a to differ forward-looking our and these that you and

and to result statements XXXX our or statements, conference events For webcast, regarding the of with to the in that risks a forward-looking this in associated made disclaimer statements which forward-looking was furnished thorough is more obligation call Form refer be X-K. you any to alter quarter included or of a We new do earnings uncertainties information, whether undertake otherwise. the any SEC first as today we forward-looking not discussions the and release, on update future to

on the of this In addition, earnings Explanation metrics earlier the found company filed today. call. non-GAAP to may metrics adjusted release can refer these certain be in

on Glenn of will our offering COVID-XX then details Stephen Executive impact Chief Officer our will Lazarus, our will quarter, financials, of home actions Officer taken today the Chief taken President Leonard followed staff our Operating begin and impact our and COVID-XX. Executive of our and highlights to return, due and Fluxman, the me first Fusfield, Financial provide Glenn with and including are innovation review by service more who the liquidity discuss Joining Officer. key actions Leonard Chairman; Stephen, to Then priorities. Chief and

And like turn now, call the to Leonard. I to would over

Leonard Fluxman

Good that Allison. results fiscal at start you, would we one environment conference in is no to Indeed, first of quarter Thank the OneSpaWorld’s predicted momentum. we one outstanding fiscal and are call. today the began have XXXX year. XXXX morning operating The welcome with

Our global and history. over offering product had to our add were growth. at at the all-time largest XX%, materially vessel and market at our in share this, count sea was the expected and to and services we high additions highest to initiatives vessel our our innovation an in Further

Our performance affecting through the February line was activity despite in headwinds crews from in and region, with increased our for EBITDA and both resort COVID-XX tracking the region. in expectations sales Asia-Pacific

metrics, wellness exclusive and provider new We to as towards initiatives Oceana advance cruises. Seven commencing and we We our operations growth to the cruise larger health of Regent continue for trend our quarter. partners furthered during our boot ship elevate with X continue weekly and enhanced staff through across and cruise ship offerings. all to service wellness our partners average key expand February. close revenue drove to weekly health line including revenue collaboration and and Seas ships net line the fleet total, per This centers average Cruises In our our per added business increases

extended focusing business capital enhancing the to on through only preserving industry our our overall. our priorities, period and We first However, foremost navigate cash company and safety spread and of to well-being staff proactively as COVID-XX pivoted the and we operations mid-quarter are structure, positioned global ensure and cruise for well not the disrupted our of of an opening as hospitality partner strength emerge voyages resumption for destination our period line continue to to and highly relationships, industry flexibility leadership, to our also eventual offerings position cement and our a service from prepare differentiated following of but advance extraordinary product of operations, of cruise innovate and financial this with the resorts. model leverage limited with our time the

I staff dedication, their would this and our during time. service team like for unprecedented entire commitment and thank attentive to

net the the moved XXXX $XX.X fiscal million. as team the voyages bringing of and ship was XXXX. $XX and the compared The as to quarter was during corporate $X and fiscal cash In estimated working. quickly to in closed related with home, $XX.X first COVID-XX the fiscal un-levered first process million, Our income ease was lost to in transitioned from of prior the of a the $XXX.X loss total revenues revenues to quarter. begin net destination XXXX. resulting quarter quarter, cruise net million first our decline Adjusted canceled staff Adjusted free for million million million quarter, after-tax million to first year compared $X.X adjusted and remote $XX.X first quarter flow resorts of employees to EBITDA of million compared $X.X was of were the million $X.X in

response pandemic, announced operating eliminated with actions dividend These combined of our business nonessential operations. limited than our the more XX liquidity. resources and our and partner, Catterton, suspended strategic dividend this our decisive equity with we longstanding program. In took backed provided all actions, offering highly for to protect preserve our with expenditures, L staff capital our months to our us We previously and unprecedented payment to deferred sustain

aggressively in expenses than areas our Going elevate and in forward, more wellness will while focused centers our investing operation resources of share sea. manage we market that will health on at XX% the remaining continue to

closed, for we business the year. advance start resorts of the While to we at the all These our are two. operations are ships set destination on the priorities continue cruise currently and

effectively our and health and wellness First, programs. introduce efficiently

At focused service excellent voyages. the including all all on Oceana December Regent fleet levels completed our maintaining X in remainder prior late January the As entire of we Regent time, X service Seas across fleet. and we same Splendor, region to remain cancellation XXXX, mentioned, began in rollout our I vessels and the the having Seven XXXX, to of the on

our respect and with other hold on well work new to Second, we to and onboard services treatments contouring COVID-XX. as medi-spa as to put activity expand our grow revenue, Thermage this services, among products was as been temporarily advanced to due has and FLX, expanding to ongoing customers treatments, seek body while recovery

And across will Glenn? actions medi-spa and on now initiatives, I service our to turn regarding pre-booking to you safety the our over taken and areas of update the provide dynamic to offering our of details product including the call ensure pricing. staff, and Glenn

Glenn Fusfield

Thank you, Leonard.

and and for start staff. Before the intently I begin, I pandemic, additional to priority our period, bringing dedication their government ship commitment as securely this tirelessly very with challenging has transport been X% on repatriated this would and thank thus possible. Throughout as our this well-being crew our on update have our Since of soon working team line home the safety personnel, focused during to have our of the staff of XX%. like been period. we we partners an April Since to far authorities cruise total our XX,

as additional to they our head an sailing expect We vessels home shortly XX% their personnel to are of the countries. cruise be which in ship repatriated

our aligned by business maintaining closely remaining partners with scale agility line cruise rapidly to operational also resume. our once are voyages do We

care our our and and partners comprehensive to while we and initiatives experience During developing cruise staff this on collaborating economics, guests. with for strict enhance are line safety personal implementing our guest our and onboard period, protocols shared maximize

We our and are when rapidly resorts operations maintaining global voyages open. engage to readiness and scale resume

services products While and on and make to all expanding of operations to closed, treatments, revenue. progress resorts spa our remain our order and continue in destination to ships cruise to we onboard continue increase customers

in trends services favorable pre-book continued as pricing. experienced average we COVID-XX, spend as to dynamic well Prior and

fact, and higher than trending productivity In were onboard February metrics revenue year. prior through

across fleet. work out these We to initiatives with are our partners continuing to roll our

ascertain of this because introductions ship our cruise it and the new is returning service, of resumption difficult the uncertainty However, initiatives lines at rollout the to and point. scale of of timing to

will during position offerings growth resume. our continue when spa challenging, voyages on we recent and offering expanding this certain when With us market accelerate key capitalize experiences period. be and fully programs our normal by investments to of These XXXX we operations to services rollouts vessels of plan service raise, will resume. to our to commanding products, will efforts capital share, fuel innovation While of and new enable our our opportunities these

With who additional I Stephen, to provide position liquidity our COVID-XX information discuss will and financials turn will over related impact. to quarter on that, our the first

Stephen Lazarus

actions Glenn. in COVID-XX morning, then response you, Thank I’ll mitigation the overview with details performance quarter a brief Good ladies begin first to and of our regarding provide pandemic. additional gentlemen. and the

As positively Asia from in despite Leonard beginning mentioned, began the the January. early COVID-XX impact in had quarter

and passenger which the the took our we line and cruise steps operate. led safety, cancellation spread of of to voyages partners ensure guest resorts depressed of as destination However, COVID-XX results and where operators closing hotel rapid to

total million mind, to revenue quarter. quarter, $XX declined from for With this in the million first the first XXXX $XXX

on progress was and COVID-XX X see wellness resorts related the destination during canceled adding to lost estimated continue and our partners shipboard quarter. revenues new the resulting during and quarter, line of centers to fleet We the cruise voyages to health closed the incremental $XX priorities, The net million.

that cancellation of the to the we I share detail not a the response taken actions rather go today, material performance spas. level will resulting in While I of discussion will of voyages turn closure our COVID-XX metrics, given into to I impact typically COVID-XX. and hotel and of have

spas closed where towards are actions Therefore, expenses Caribbean-based on shortly. XX% COVID-XX. closed soon remaining continue to cruise As ships preserve U.S. currently in be furloughed all of cruise all repatriating XX% know, XX% following repatriated of practicable, resorts on and been the to personnel destination ship as reduce our and all eliminating all with ship and destination Caribbean response as an all you U.S. resort personnel. to work date, and Asian-based we cash personnel, we closed. prioritize personnel for repatriated employees. have And to canceled, all vessels these additional to we substantially taken costs, we spas, liquidity based related of corporate have personnel cruise and ship XX% have our We ongoing operations spas voyages have of To

approved average of XX, company including shares weighted X months to million when and have transaction the cash $XX.XX. us limited Directors. private monthly of operating and total capital expenditure, a shares shares of leave warrants exercise the in volume common million, X% And dividend XXXX, The private $X.X monthly deferred exercise XXXX, on maintain million option market April include net of XX, expect million The price payment all will approximately more Board growing anniversary trade than warrants the XX.X million the of on to until announced withdrew to program through proceeds per the our a $XX Xth placement. the operations declared related issuance service. the approximate April of OneSpaWorld of expected of at we with purchase our to notice the the for of an by reflecting and We million we actions of for close further to issuance and the eliminated $XX redeemable placement expire the February terms XXXX. receive of fees, These resources on premium the until are $X.X closing XX, following: the dividend of share, shares to at nonessential to common an company $X.XX available with of XX price XX-day debt

of general, will transactions and its transaction. Proceeds Directors’ related Leisure capital closing. corporate the our to lockup purposes the on the be and expand and subject Board and newly XX to transaction Steiner management period for and shares directors Steiner will X used of and Leisure to a issued months will OneSpaWorld pay working the be fees expenses from representation to XX from

the allow growth innovation warrant. to to as We well to future and invest our necessary continue to and loan resume in capitalize provide and conditions with foreseeable the resources agreements operations compliance operations close expect the us our to remain the for market us when fully transaction position us quickly in liquidity to increased June and in support the to on with enable as

rapidly disruption provide reasonable to unprecedented not the this COVID-XX are to the and evolving able we pandemic, time. nature for guidance related the Given of at basis a

or quarter such, currently our year. we As not an second are providing outlook for full

we take And up open call please to that, Steve, if could the with will ahead? you questions.

Operator

Sharon William question first comes Blair. go Zackfia The from ahead. Please with Instructions] [Operator

Sharon Zackfia

and traded question. taking publicly the any is there of Hi, quarter? good if of right ships companies sail mean, as serve guess kind are occupancy, for now, cold a guess you look fluidity revenue as going-forward kind particular, how how business my Thanks ships. you plan kind kind the now, of lower-than-normal a would lay-ups lot in of that cruise obviously, or talk number us And owe of point? for they can number you to in of companies maximum that about a And third right number might their margin that morning. help heard any as I in you start situation sail those the you? of we’ve the understand, the I stands it at you cruise it I in might minimums peg if kind to ships affect do that that it once for opportunity might at relates of of the then the –

Leonard Fluxman

the the service return answer in orders, quarter. It’s exactly in the difficult mean now CDC only third is that’s really to obviously the governing Right. many service Sharon. to I Thanks, be how could right which extends don’t ships It’s been lines thing think And will through despite some said. that, be they dates have you I XX. revised, just as they’ve situation, continue start revised. a cruise than fluid fact July to and earlier

website we August think drive at much possible, upon if where X what shorter can service, third return focused in on Carnival they of that’s their will people with board. cruises on is I cruises see drive we even available least sort and quarter, based saw that show to the

good as more going the see in cruises, XX% sea occupancies ports Caribbean. which than expecting will not of cruise even I we to call, the lines, you much open is you all to for same mentioned, see not probably to us. higher But at think clearly the out. you’re the days, obviously as less of ports, time, are So ports shorter are shorter number be because starting such, And

In XX%, better. fact, they will probably maybe be a little

fourth cruise demand well sort seen some of lines as quarter. have as positive pent-up release the really into numbers We ‘XX the going on in

the service. very But clearly in how exactly service cruising and think be way, step-up to I what’s say us demand to many required the single every too to to time. closely for there. CDC very, there’s at early hard ships in cruise be lines with So out know are working return that to I for will going it’s

Sharon Zackfia

half occupancy margin significant So you? those see to occupancy, you talk minimum if ships that would have your cruise mean we what are at handicapped you are based payments I can for means the sailing on or that for about pretty lines? implications

Leonard Fluxman

So sailing. upon when actually are are remember, the based minimums ships

the extent the to obviously, a there’s are no now. no right minimums are So there sailing, – minimums in play

single obviously, at in return to So going selling better, when to slightly XX%, – or depending the XX% best they what the they service, possible need where but onboard every we that I we do the only XX% need of if to guarantees on challenging guests’ participation is remember, a is year. do. guest and profile hoping it’s are geography expect Obviously, demographic decent. to be the we’re beginning, respect reset, to as with

So to that impact again, into extent are quarter, cruise will going what the sailing happens the then in the clearly, calculated the guarantees third lines start how and ‘XX. fourth

Sharon Zackfia

folks And to a the the several just and turnover question, in pretty challenges recruiting ability the terms might as whether mean sailing again cruise now. Thank in fertile if getting don’t start just extraordinary with staff? not market can I in know work in any talk the an ships quarter, staff start-up or for know job done the about go years. you’re ready headlines for new attract get then costs that’s to that might of you any reluctance on the third back And I or you’ve past you. seeing place? you you last what still incur kind back staffing or of you to for staff

Glenn Fusfield

Sharon, one, this if is Glenn. may. Leonard, this If I I can take

Leonard Fluxman

Yes.

Glenn Fusfield

we’re have phenomenal, staffing. to commensurately And demand just the guests The of low given of or ship, on been or going come – back – course, the reduced occupancies not. to each it staffing has on ship reduced believe the

back a hand where we’re in actually that the staff we’re So now. we’re choosing position breaking

So and high staff we’ve our producing forth. actually so modality by ranked

the be assign a to the fluid it so to are And situation, of and to back best go come is going requesting bringing don’t folks what up just ships best. them or forth to already certainly, we’re back. the to and going brands what lining remarks. We are know as Leonard first as So

So clearly, we’re not so concerned about the recruitment effort.

sea already back to in program staff. all Our has with touch been our of repatriated

the remain industry-wide still vessels staff ships. onboard as We members communication all have to still world. the that know, with And you remain of around tremendous of daily there’s our amount the a crew which

all. fluidly with So we communicate

just the to the really only what veterans. are who when, and again, true back and coordinate bring efforts So and

the new training enhance new efforts we the marketplace, then, reenter then some new recruitment time. we vessels the because well, always same at builds halted the As will with not operations And we’ll start as at infuse point staff just to that the course, start our resume to like to veterans. of

we’re expecting pick task, be nice So bring in we to back. by expense associated very It want but that a large position choose an means. sitting and any will a with certainly not we’re folks the to effort, that

Sharon Zackfia

Best Thank you. of luck.

Glenn Fusfield

Sharon. Thanks,

Operator

of question Steven comes go Stifel. next The Please ahead. Wieczynski from

Steven Wieczynski

morning. Good guys. Hi,

bit you the raise is, well is, the maybe starting raise other options and of the the liquidity additional what more. you us that into I think to the if actually are out explored question help going part then to guys road? capital. I to about still warrant that the raise there maybe options forward, of as And did And with So on kind you as moving last recently you try route? you needed And down today, guess want that how start and question equity decide with dig a – did little here down

Stephen Lazarus

Stephen Yes. Good Steve, Lazarus speaking. it’s morning

the experienced option Nomura particularly regards to our it company to most regards and of placement the as is chose the [indiscernible] to their we extended and that and So for operating the pursuing necessary Committee in timing as an them right Special financial We with investment in would and be options, significant know, are the transaction respective obviously, upon. in to terms previously. the other have process advice company With has the of Nomura engaged continue private gives certainty this we you with fields we to experience of we now. both well on size advisers the compliance the And period. covenants that with proceed

As was Monday, you going right up know, at Annual Meeting in not preliminary the for now proxy With we the set do this the to path we’re additional on vote are This – that down. filed and have we a options to General with regards liquidity. shareholder other proceeding June. is

Steven Wieczynski

Okay, got it.

all bit help you question second guys to kind in capacity kinds but hinted of assume and capacity think any Is levels like order us what commencing asking guys guys have look needs break this be a – kind And this what service little operations from around of resumes to stuff The when in about before, would for can way flow differently. of maritime a but scenarios at cash done around there you I you operations be perspective? again. you cruise even

Stephen Lazarus

when be – breaking if we would capacity is yes, on to So board, passengers XX% capacity, even. so with on to there board, cruise passengers speak, regards if –

of our onboard in variable significant nature. a As is you portion spend know,

generating very elsewhere. literally, we some profit, start fixed and obviously the that that then costs to start quickly as offset revenue, have so helps we And we generating of soon as

on onboard XX% be at So EBITDA count, even would a breaking an we basis. guest

Steven Wieczynski

one but that quick well, there rate, that’s for flexibility gets it pretty then actually monthly number as real go million much over is some you, one good burn helpful. the And as is could $X.X that or that lower as Okay, time? last Stephen cash probably

Stephen Lazarus

opportunities extent that that there for additional number. To we delays, long-lasting additional and the are look would at reducing

we remain other lot taking not as that as of continue for closed it that would through other But quite to taken to have the period, longer mentioned, is we’ve some furloughs things We have even the to an significant actions some consider and down, significantly already There action. a taken. opportunity. additional we’ve extent

Steven Wieczynski

Appreciate Thanks. it. great. Okay,

Operator

The from next Please question go comes Jefferies. Wissink of Steph ahead.

Steph Wissink

of Good help Stephen, if am Thanks. in hard a see sources us Can to the cash can the just quarter cash were. Without sheet give thoughts bridge uses balance. – the and it’s of morning us cash the everyone. quarter cash in of on – where position the and some a relative December use and the balance end just you you ending flow, cash some full to were? sources wondering, cash I few where

Stephen Lazarus

period good to cash coming quarter to generating detail cash. not the And would million month. $XX no you reducing activities January of the ended and with all actions sources a you with actually was for the see regards March will with yet and obviously as different the story will then cash. expenses. in February with uses, expect, able we published of The revenue So of flow be the today the months, had be particular prior and queue some implemented a we and also but to on

obviously, etcetera. being some delaying regards cash that that payments, regard, it to So of more took capital with in were and offset by working uses there aggressive of being on actions we but

the in take more today, details you – all from questions, So see have if the there. go And we queue. you’ll the and later can

Steph Wissink

a around board, that participation occupancy? And can follow-ups, that Okay. to but a secondly, up looking XX% or then to the just retain breakeven. of your occupancy similar penetration a lower Are number a also penetration assuming penetration passengers mentioned, of you XX% – That’s onboard that you on the at level prior to you the or you couple – passenger helpful. just a calculus that question follow-up on goes

Stephen Lazarus

percentage we up. board, goes that on passengers would the As it assume a of

Steph Wissink

you your higher for to your safety talk additional maintain grades protocols? about of your throughput, respect staff? safety you bit thinking guests are and should a you with about and incur Can configuration how centers Okay. of How wellness services little that just we your costs menu may think to any about of

Glenn Fusfield

if I Glenn. this take that is one. can Steph, Stephen, Sure.

working as all we partners, with they are cruise with we all, of but course nuanced a protocols know, first diligently as safety XX individual have each and common every perspectives. banner. then thread, their of you have approaching So And somewhat and of they’re

where little are have bit of a we philosophies. great So to but everybody’s we situation alongside in work situation, a unusual an

and not We playbook, health only spa are our of finalizing of but are them staff and process on and and the as have – it, give complete in same the to operate level safety culture call you developed very one. to of states of all a from comprehensive set by the sanitation the in a really as and and how one time we guidelines the that new thorough as the course for really safety, cities at reopening guests see of educate

we social these physical distancing have guidelines. of protocols, all will guidelines typical or without the So distancing

of We into services facilities. a than the usage necessarily. It’s reduction occupancies you will of see the have reduced will much in a facility in more reduction

services up that perhaps, looking the appointments. any We to not have – see fitness many won’t in do. folks, But queued facilities. physical folks eliminate will to we make in less We’re you as the

booking of time. procedures to consultations appointments onboard in our done We to and have new for place pre have and make ahead onboard

doing or potential everything mitigate of to really illness spread concerns. place are or any We in the virus

the lines upon that cruise our that sanitation guest. taken obligations The addition training and to each in and owners responsibility that’s We ourselves. of will we’ve cleanliness every after place facility taking place, have and will be be taking thorough own the very

to onboard they if beverage cabin. be, start one sanitized guest will so food of not that will and start marketing. comfortable. it that the safest education And want digital and think addition I the to the in instill to that with really within So feel It’ll areas. We facilities the and culture

course, to each marketing messaging within that of at way looking push printed materials. Of every we’re cabin, instead and phones and

and are and avocation of the from The will the protocols just lines health And safety doing as actions all staff. our of be guidelines. for guests of credible everything are the nature they place know, you embarkation all now of ensure the debarkation that have from PPE, of cruise to and in of the controlled to onboard. all our new sanitation taking All experiences, course,

covered. line, safety working So it And line we we again, all are common a cruise will but protocol of cruise health the approach, there the same be cruise thread work there line specifically. throughout. think and be will won’t be to And with

with we how it We expense – what many we’ll but nature just least expense have be we’re have it quite at didn’t ships of staff that ‘XX. PPE in of tomorrow. the will have we’re will associated because have, sure we still And and some yesterday, many as additional through working not fiscal

Steph Wissink

Thank you.

Glenn Fusfield

Sure.

Operator

from The next question is Infinity Assia go with Georgieva Research. Please ahead.

Assia Georgieva

or Glenn, maybe the cruise repatriating that it that’s onboard associated ships, first crew cost is you bear I significant can pretty my question? it? with ask you With do any much component food to related

Glenn Fusfield

home, obligation get of would to our to that regardless, which we repatriate obligation course, have staff We, have we do. an No, right.

circumstances, the be we’d in normal even them. So repatriating operating

March. repatriate confronted of all line. to members our not been having since But with typical we’ve crew thousands Now expense is cash flow once and at that

what there the four dozen mitigated world, Now crew members vessels currently that as the about having said it you call ferrying that, as home, are crew vessels, sailing these bringing we know, somewhat are has home. been ferries

their the home. So are staff cruise lines all bringing

We are participating alongside them.

So that’s the they’ve staff been our been lines closed actually home the helped are somewhat, the and get we’ve us and partners, to all as with have us airports great around working world. cruise – of

less astronomical of airfares. we’ve course, obligation, far a certainly [indiscernible] that’s bit than have that of a expense. We So but little mitigated do

being room bit them and it’s board on accommodations, a really, remember, board little general the we regard. repatriated in a have well-being and So to But wash that of provide staff do home. they’re while are onboard,

be home vessel So one by we’ll any way air or possible. or get other or means by whether it them another,

Assia Georgieva

pretty some from go restart, much the of And operations using that need once countries same similar crew their and to markets cruise by for the have you pick lines token, the store up been crew. might in

expensive, I it ferrying is you that as imagine? the back opposed airfare, more way option could use possible to on to So is – the in, which

Glenn Fusfield

I Well, possibility. it’s certainly think a

have rebound, Where and from typical up heard certainly these a on bringing that, these a experience, be as members, necessarily the ports to We not picking vacation. vacation home vessels. going they ships redeploy they’re not markets are the source start to they’re they’re but crew not

We’re Philippines, of the the the and Asia talking reaches India, far like.

to they if it case of be maybe be vessel a our to and in their part take a to have Europe, and don’t us we the South to on could we vessel. obligation welcome staff it their at own. Typically, were So expense to the remember, America a full member get whether their that staff that. way or back And find bring would would

Assia Georgieva

for Okay. to the business waiting I’m restart. just

So foresee... trying to

Glenn Fusfield

Yes we all are.

Assia Georgieva

I’m question. And separate a sure.

So heard terms changes some of contracts? anything some terms possible changes in commonality, you in of attitude the from And changes towards were with related and the there grapevine that, to shareholders your some to to have America.

may impact and So people that terms of difference with the in speak any possible whether have that in there, you I wondered thinking.

Glenn Fusfield

do. that. new cruise and we continually the be do continue the place, stability are in management years, heard And part so we at us the and have of the to about health any just say wellness. you and as many that. press other changes to and Those have don’t you’ve the this that read to in times about a we’re all we’ll only over as in But and are educate We with that happy industry just industry, on hearing recent, it insight probably regimes we’re put

Assia Georgieva

interest the Okay, thank you for so your for to Glenn. time guys update us and you taking all. Thank much

Glenn Fusfield

Thank you.

Operator

closing question-and-answer would session. the to to This back for over Leonard turn I any remarks. Fluxman conference the like concludes

Leonard Fluxman

to call for Alright. you Thanks It’s Thanks quarter us but briefer call. look today. today. second speaking different with everybody Obviously, on forward our all we usual. joining than our times, joining for again

Operator

concludes This call. conference today’s

Thank your and lines. disconnect may participating a day. You pleasant you for have

OneSpaWorld Holdings Limited (OSW) 14 May 202020 Q1 Earnings call transcript