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OneSpaWorld Reports Second Quarter Fiscal 2021 Financial Results Ends Second Quarter with Total Liquidity of $ 54.8 Million Company expects that sailing will have resumed on 79 ships by the end of September 2021 Nassau , Bahamas , August 5 , 2021 - OneSpaWorld Holdings Limited ( NASDAQ : OSW ) ( " OneSpaWorld , " or the " Company " ) , the pre eminent global provider of health and wellness services and products on - board cruise ships and in destination resorts around the world , today announced its financial results for its second quarter and first six months of fiscal 2021 , ended June 30 , 2021 . Exhibit 99.1 On January 30 , 2020 , the World Health Organization declared the coronavirus pandemic ( " COVID - 19 " ) a " Public Health Emergency of International Concern , " and on March 10 , 2020 , declared COVID - 19 a pandemic . The regional and global outbreak of COVID - 19 has negatively impacted and will continue to have a material negative impact on the Company's operations . On March 14 , 2020 , the U.S. Centers for Disease Control and Prevention ( " CDC " ) issued a No Sail Order , as a result of which a majority of our cruise line partners voluntarily suspended their operations . The No Sail Order was replaced by the CDC's Framework for Conditional Sailing Order on October 30 , 2020 , which will remain in effect until the earliest of ( 1 ) the expiration of the Secretary of Health and Human Services ' declaration that COVID - 19 constitutes a public health emergency , ( 2 ) the CDC Director rescinds or modifies the order based on specific public health or other considerations , or ( 3 ) November 1 , 2021. The Framework for Conditional Sailing Order outlines a phased approach for gradually permitting cruise ship passenger operations in U.S. waters , subject to certain conditions and guidelines . As of the date of this report , the Conditional Sailing Order and related measures , such as technical guidelines , have become nonbinding recommendations for cruise lines arriving in or departing from a port in Florida , which most Florida - porting ships have chosen to voluntarily follow . We are continuing to review the CDC's guidelines in connection with the Framework for Conditional Sailing Order as well as monitor the actions of our cruise line partners with respect to the status of the voluntary suspension of cruise sailings . We also believe that there have been positive developments around the availability and widespread distribution of effective COVID - 19 vaccines , which we believe will be important to achieving historical occupancy levels of our cruise line and destination resorts partners . Leonard Fluxman , Executive Chairman and Chief Executive Officer of OneSpaWorld commented : " The swift actions taken by our team to maintain strong liquidity and , importantly , ready our staff and health and wellness centers to safely open as voyages began to set sail and destination resort spas resumed operations led to a significant sequential improvement in our financial performance during the second quarter , as compared to the first quarter of the year . We had very positive customer demand for our service offering onboard the 14 ships that began sailing during the second quarter continuing through July where customer spend has been above 2019 levels . In addition , our land based : spas in North America generated positive EBITDA and we are increasing staffing at most locations to meet higher - than - expected demand . We believe this reflects the strong execution of our new protocols and outstanding service by our highly dedicated staff members . " " As we look ahead , our priorities continue to focus on investing aggressively to enhance our competitive position and maintain our comprehensive set of protocols to ensure a safe and successful return to service as more vessels resume sailing , " continued Mr. Fluxman . " To this end , our corporate support teams visited or sailed on 30 vessels and we will continue to maintain this high level of commitment to support our staff and help ensure we continue our strong execution . As of August 4th , we had welcomed back 1,088 staff members who began to serve onboard 42 of our 163 cruise ships - seven more than we anticipated when we reported first quarter results in May . In fact , in spite of multiple COVID rapid tests , quarantines , test cruises and new protocols , our team members are excited to be back at work providing extraordinary customer service . We expect our exemplary staff commitment and service , together with our innovative service and product offerings , will enable us to capitalize on our significant opportunities to further expand our preeminent position as conditions continue to normalize . " Mr. Fluxman concluded : " we will execute with intense focus on financial discipline , implementing our strategies to return to peak levels of sales and profitability , elevating our brand and further expanding our service and product offerings to increase value for all OneSpaWorld stakeholders . " Stephen Lazarus , Chief Financial Officer and Chief Operating Officer , commented , " we ended the quarter with total liquidity of $ 54.8 million , including $ 41.8 million in cash and $ 13.0 million available under our credit facility , positively impacted by a lower than forecast cash burn rate of $ 10.9 million for the quarter . We expect the resumption of our cruise ship operations to accelerate in the third quarter and generate improved cash flow from operations . " ● Operating Network Update : Ship Count : The Company ended the second quarter with a base of health and wellness centers on 163 ships , of which 14 had resumed voyages as of quarter - end . The Company expects that voyages will have resumed on 79 ships by the end of September 2021 . ● Destination Resort Count : The Company ended the second quarter with spas in 53 destination resorts , of which 42 were open and operating as of June 30 , 2021 .