OneSpaWorld Holdings Limited

Thank you for standing by. This is the conference operator. Welcome to the One Star World Third Quarter 2020 Earnings Conference Call. As a reminder, all participants are in listen-only mode, and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star then one on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star and zero. I would now like to turn the conference over to Alison Malkin of ICR. Please go ahead.

Thank you. Good morning, and welcome to OneSpell World's third quarter fiscal 2020 earnings call-in webcast. Before we begin, I'd like to remind you that certain statements and information made available on today's call-in webcast may be deemed to constitute forward-looking statements. The COVID-19 pandemic continues to have a significant impact on our operations, cash flow, and financial position. The uncertain and dynamic nature of current conditions and its ongoing impact could materially alter our outlook. These forward-looking statements reflect our judgment and analysis only as of today, and actual results may differ materially from current expectations based on a number of factors affecting our business. Accordingly, you should not place undue reliance on these forward-looking statements. For a more thorough discussion of the risks and uncertainties associated with forward-looking statements to be made in this conference call and webcast, we refer you to the disclaimer regarding forward-looking statements that is included in our third quarter 2020 earnings release, which was furnished to the SEC on Form 8K. We do not undertake any obligation to update or alter any forward-looking statements, whether as a result of new information, future events, or otherwise. In addition, the company may refer to certain adjusted non-GAAP metrics on this call. An explanation of these metrics can be found in the earnings release filed yesterday. Joining me today are Leonard Fluxman, Executive Chairman, Glenn Fussfield, Chief Executive Officer and President, and Stephen Lazarus, Chief Financial Officer and Chief Operating Officer. Leonard will begin with a review of our third quarter performance and provide an update on our operations, our key priorities and liquidity. Then Glenn will discuss our actions taken in response to COVID-19, including an update on our staff and review our service offering innovation. Following this, Stephen will provide a more detailed on the financials and liquidity. And now I would like to turn the call over to Leonard.

Thank you, Alison. Good morning and welcome to One Spa World's third quarter fiscal 2020 results conference call. As expected, our third quarter results reflected the significant impact to operations driven by the COVID-19 pandemic. As we mentioned last quarter, all of our health and wellness centers on cruise ships closed to passengers on March 14th. As of today, two health and wellness centers on cruise ships resumed operations. Our destination resort spas were closed since March 26, with 37 reopened as of today, albeit with capacity restrictions. During the quarter, we continued to focus on three priorities, namely ensuring the safety and well-being of our associates and staff, preserving liquidity, And thirdly, preparing for when our operations resume with strong innovation and active collaboration with our partners. As it relates to our first priority to keep our staff safe, I'm extremely appreciative of our cruise line and resort partners and each of our corporate employees for their efforts to ensure the safety of our shipboard and resort personnel. As a result of these efforts, as of quarter end, All but 29 cruise ship personnel were repatriated, and as of today, 39 cruise ship personnel have re-embarked on three vessels that commence sailing in the quarter. Moving to our second priority, liquidity. We remain intensely focused on tightly managing expenses and capital investment while continuing to pursue initiatives to ensure a strong performance at our health and wellness centers as voyages resume. We ended the quarter with $62.2 million in cash, including availability on our credit facility. We continue to believe we have the liquidity to sustain our operations with no significant voyages through December 2021. As it relates to our third priority, preparing for the resumption of operations, As many of you are aware, the US Centers of Disease Control and Prevention, the CDC, lifted its no-sail order. At the same time, the CDC issued a framework for conditional sailing that is expected to lead to a phased return of cruise ship passenger voyages. We continue to expect limited sailings this year as our cruise line partners implement the three phases of the framework, including testing and implementing additional safeguards for crew members, conducting simulated voyages to test cruise operators' abilities to mitigate COVID-19 risk, and providing a certification to ships that meet specific requirements. We are working alongside our partners to ensure success during the simulated voyages and look forward to when passengers can embark on cruises again. Overall, we remain committed to investing our resources and collaborating with our cruise line partners in areas that we expect will add to our dominant market share in the operation of health and wellness centers at sea. We remain confident that the advantages of our business model and significant market share we possess has us poised to achieve a long-term performance objective as business conditions normalize. In keeping with this focus, we've expanded our management team to include Susan Barner as chief commercial officer. Susan joined our company in October and will lead our revenue and growth initiatives reporting to Glenn. And now I'd like to turn the call over to Glenn. Thank you.