Princess Cruises and Xponential Fitness, Inc. Announce Exclusive License Agreement

Princess will add Xponential's leading boutique fitness branded content across its full fleet of premium cruise ships

OneSpaWorld, Princess Cruises' exclusive provider of health, wellness, and fitness at sea, will incorporate Xponential content into its programming

SANTA CLARITA, Calif., Sept. 12, 2022 /PRNewswire/ -- Princess Cruises, the world's most iconic premium cruise brand and a brand of Carnival Corporation & plc (NYSE: CCL) (LSE: CCL) (NYSE: CUK), today announced an exclusive five-year licensing agreement with Xponential Fitness, Inc. (NYSE: XPOF), the largest global franchisor of boutique fitness brands.

With this unique partnership, Princess will leverage Xponential Fitness's extensive content in concert with OneSpaWorld's unparalleled expertise in the health, wellness and fitness at sea sector to become the first major cruise line offering multiple, curated fitness brands to create uniquely customizable guest fitness experiences at sea. Over the term of the agreement, a minimum of eight Xponential brands will be made available onboard each of Princess' 15-ship fleet, resulting in a minimum total of 120 licensed studio experiences across the Princess fleet, featuring Xponential's market-leading Club Pilates, Pure Barre, Yoga Six, CycleBar, Row House, AKT Dance, and StretchLab brands and fitness modalities to start, with more exciting Xponential Fitness offerings to come. 

Xponential Fitness will work with OneSpaWorld (Nasdaq: OSW), Princess Cruises' exclusive partner for health, wellness and fitness services, to incorporate Xponential's outstanding experiences into the fitness offerings provided to Princess guests, managed by OneSpaWorld's fitness professionals and onboard staff in onboard fitness and spa facilities.

"Our goal is simply to provide the best vacation experiences in the world at the best value. Blending Xponential's unmatched boutique fitness brand portfolio with OneSpaWorld's beautifully-curated fitness program, developed over the course of our 25-year exclusive collaboration, allows us to align the most iconic brand in cruising with the best and most comprehensive offerings in the fitness industry," said John Padgett, president of Princess Cruises. "Whether at your home, your local studio, your stateroom, the ship fitness center, sports court or lido deck, our guests can engage with Pure Barre, Club Pilates, YogaSix, StretchLab, Stride or any of their favorite fitness experiences."

"This partnership will broaden the fitness experience available to the millions of guests who sail on Princess," said Anthony Geisler, CEO of Xponential Fitness, Inc.. "Our wide variety of fitness offerings, ranging from stretching to cycling, will provide everyone, including avid Xponential members and first-timers, the opportunity to experience our brands in addition to the existing extensive suite of OneSpaWorld services offered on board. We look forward to working closely with OneSpaWorld to create extraordinary value for Princess and its guests. Clearly, the strong synergies among Princess Cruises, Xponential Fitness, and OneSpaWorld will create value for all involved in the partnership."

"We are thrilled to partner with Princess and Xponential to expand our delivery of personalized, custom Princess guest experiences at sea by incorporating the premier Xponential Fitness studio fitness brand content and its market-leading multi-modality programming into our offering," said Leonard Fluxman, CEO, President and Executive Chairman of OneSpaWorld. "Together with the Xponential Fitness team, we will design remarkable Princess-inspired fitness experiences for each Princess guest, continuing our 25-year commitment to innovate and deliver marvelous new guest experiences and memories."

In addition to the onboard Xponential brand studio classes, Princess will make Xponential Fitness' XPLUS virtual on-demand studio class subscription service available in more than 23,000 staterooms on Princess' proprietary digital content platform, OceanView. Princess guests need not be Xponential Fitness members to experience in-studio live classes and in-stateroom on-demand classes, and can continue their onboard experience post-cruise through XPASS at exclusive Princess discounted prices.

Further, Princess will integrate customized equipment packages from Xponential Fitness partners to complement its onboard boutique studios, and will also make Xponential Fitness merchandise available in onboard retail stores and on Princess' industry leading on-demand location-based services platform OceanNow.

Along with these exclusive onboard and post-cruise Xponential Fitness offerings, delivered by OneSpaWorld at sea, Princess Cruises also becomes the first Xponential Fitness corporate wellness partner through its XPASS multi-brand live studio class program and its XPLUS virtual on-demand subscription fitness programming made available at exclusive discounts to Princess Cruises' more than 30,000 employees. With this agreement, Xponential Fitness and its brands become the Official Fitness Content Partner of Princess Cruises, while Princess Cruises becomes the Official Vacation Partner of all Xponential Fitness brands.

Princess Cruises is the world's most iconic premium cruise brand operating a fleet of 15 modern cruise ships, carrying millions of guests each year to 330 destinations around the globe, including the Caribbean, Alaska, Panama Canal, Mexican Riviera, Europe, South America, Australia/New Zealand, the South Pacific, Hawaii, Asia, Canada/New England, Antarctica, and World Cruises. Celebrated around the globe as the Love Boat, Princess offers the ultimate in effortless, personalized cruising featuring magnificent balconies, world-class dining, entertainment, casinos, pools, fitness centers, and spas, all elevated by the exclusive Princess Medallion. The company is part of Carnival Corporation & plc (NYSE/LSE: CCL; NYSE:CUK). The Princess brand will be on full display this fall as The Real Love Boat joins CBS' Wednesday night primetime lineup starting Oct. 5.

Xponential Fitness, Inc. (NYSE: XPOF) is the largest global franchisor of boutique fitness brands. Through its mission to make boutique fitness accessible to everyone, the Company operates a diversified platform of ten brands spanning across verticals including Pilates, indoor cycling, barre, stretching, rowing, dancing, boxing, running, functional training and yoga. In partnership with its franchisees, Xponential Fitness offers energetic, accessible, and personalized workout experiences led by highly qualified instructors in studio locations across 48 U.S. states and Canada, and through master franchise or international expansion agreements in 12 additional countries. Xponential Fitness' portfolio of brands includes Club Pilates, the largest Pilates brand in the United States; CycleBar, the largest indoor cycling brand in the United States; StretchLab, a concept offering one-on-one and group stretching services; Row House, the largest franchised indoor rowing brand in the United States; AKT, a dance-based cardio workout combining toning, interval and circuit training; YogaSix, the largest franchised yoga brand in the United States; Pure Barre, a total body workout that uses the ballet barre to perform small isometric movements, and the largest Barre brand in the United States; STRIDE, a treadmill-based cardio and strength training concept; Rumble, a boxing-inspired full-body workout; and BFT, a functional training and strength-based program. For more information, please visit the Company's website at xponential.com.

Headquartered in Nassau, Bahamas, OneSpaWorld is one of the largest health and wellness services companies in the world. OneSpaWorld's distinguished health and wellness centers offer guests a comprehensive suite of premium health, wellness, fitness and beauty services, treatments, and products currently onboard 174 cruise ships and at 51 destination resorts around the world. OneSpaWorld holds the leading market position within the cruise line industry of the historically fast-growing international leisure market and has been built upon its exceptional service standards, expansive global recruitment, training and logistics platforms, irreplicable operating infrastructure, extraordinary team and a history of service and product innovation that has enhanced its guests' personal care experiences while vacationing for over 65 years.

This press release contains forward-looking statements that are based on current expectations, estimates, forecasts and projections based on management's judgment, beliefs, current trends, and anticipated performance. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. These factors include, but are not limited to, the timing and launch of Xponential Fitness brand studios on Princess Cruise ships, the success of studio classes onboard Princess Cruises, impact of the COVID-19 pandemic on our business and franchisees; our relationships with master franchisees and franchisees; difficulties and challenges in opening studios by franchisees or onboard Princess Cruises; the ability of franchisees to generate sufficient revenues; risks relating to expansion into international markets; loss of reputation and brand awareness; material weakness in our internal control over financial reporting; and other risks as described in our SEC filings, including our Annual Report on Form 10-K for the full year ended December 31, 2021 filed by Xponential Fitness with the SEC and other periodic reports filed with the SEC. Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Xponential Fitness undertakes no duty to update such information, except as required under applicable law.

SOURCE Princess Cruises