OneSpaWorld: Falls on weak Q1 as COVID-19 halts business

ONESPAWORLD HOLDINGS

13/05/2020 16:41

** Spa operator's shares  OSW.O  decline 7.8% to $5.17, set
for worst day in nearly two weeks
    ** OneSpaWorld's Q1 rev falls 17% and below average est of
three analysts, per IBES Refinitiv data, as cruise ships and
resorts OSW serves remain closed amid COVID-19 pandemic
    ** Q1 loss widens, also hit by goodwill and trade name
impairment charges of $190.8 mln  urn:newsml:reuters.com:*:nASA00PWF
    ** On conference call with analysts, OSW says it is not
expecting occupancies to be much higher than 60% after cruises
restart 
    ** Shareholder Deep Field Asset Management says OSW's
capital raise of $75 mln is highly dilutive and benefits
insiders, to detriment of all shareholders  urn:newsml:reuters.com:*:nFWN2CV0XF
    ** On April 30, OSW said it would sell $75 mln in stock and
warrants to Steiner Leisure Ltd and its affiliates and other
investors  urn:newsml:reuters.com:*:nFWN2CI0RH
    ** Including session's decline, shares fell ~69% this year
    ** Shares of Royal Caribbean  RCL.N , cruise operator and
OSW's partner, down 4.7% after launching a $3.3 bln bond
offering and forecasting heavy losses for Q1  urn:newsml:reuters.com:*:nL4N2CV2VY

 (Reporting by Praveen Paramasivam in Bengaluru)
 ((Praveen.Paramasivam@thomsonreuters.com; within U.S. +1 646
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