Gold’s Gym International, Irving, Texas, is set to be acquired by RSG Group GmbH, a fitness brand operator in Europe, Germany, according to a media release from RSG Group.
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On May 5 in its release of its first quarter 2020 financials and in a call with financial analysts, the executive team at Planet Fitness shared the steps it took to mitigate the financial effects of the government-mandated closures of health clubs that began in mid-March.
Rent collections have been the focus for landlords, but it isn’t the only lease provision that owners should be considering. Richard Rizika of Beta recommends a blend-and-extend approach to create efficiencies in operations that will ultimately help landlords get through the pandemic.
IHRSA, the trade association for commercial health clubs, has hired two firms to help its existing lobbying firm secure funding on behalf on the fitness industry experiencing financial difficulties due to COVID-19, according to a daily alert sent out on April 13 by the Boston-based association.
The next Club Industry Town Hall features four of the leading club operators in the country, who will share how they are adapting during the coronavirus shutdowns and how they are preparing for re-opening. They will also answer your questions.
While a rumored extension seems likely, investors should take a conservative approach and proceed as if no extension will be granted, with the understanding that they may get lucky.
The expanding breadth and depth of the global health crisis is raising ever-increasing headwinds for the economy and for real estate investments.
The current reality: Charting a path through unprecedented human and economic conditions.