People are hitting the gym just as hard as they did before the pandemic, providing some much-needed good news for fitness centers and their landlords.
Health Club News
Gyms and Superstores Draw the Most Foot Traffic During Uneven Retail Recovery
Call it the essentials-only comeback.
Superstores, grocers and especially fitness centers are leading the way in retail foot traffic as the country moves through a pandemic “gray area” in consumer behavior.
Moody’s Upgrades Fitness International’s CFR to B3; Outlook Stable
New York, June 29, 2022 -- Moody's Investors Service, ("Moody's") upgraded Fitness International, LLC's
("Fitness International") Corporate Family Rating ("CFR") to B3 from Caa1, Probability of Default Rating to B3-PD from Caa1-PD, and first lien bank credit facilities ratings (revolver and term loans) to B2 from B3. The outlook is stable.
The Return of Offline Fitness
Gyms and health clubs are experiencing a major visit surge, driven by increasingly health-conscious consumers excited about the post-COVID fitness reopenings.
Interest in health and wellness is on the rise. The fitness, health, and gym club industry in the United States already reached $36.6 billion USD in revenue in 2022, and consumer demand shows no sign of slowing down. And while COVID-19
U.S. Health Club Participation Rate Reaches Highest Ever, Per IHRSA Study
An increasing overall percentage of Americans used at least one health club or studio, reaching 27 percent of the population—the highest total on record, according to recent data from IHRSA, a trade association for health clubs.
In addition, U.S. health club memberships have grown by 3.8 percent in the past two years to 66.5 million people ages six years old and older or one in five Americans,
Offline Fitness Fully Recovered in Q1 2022
Fitness Foot Traffic up Yo3Y for 2nd Quarter in a Row
Offline fitness experienced a revival in Q1. After a budding recovery in Q4 followed by an Omicron-induced drop in visits in January, fitness foot traffic rose once more, leading to an overall 5.6% increase in fitness visits in Q1 2022 compared to Q1 2019. This follows a Yo3Y quarterly growth of 2.5% in Q4 2021, meaning that fitness visits overPlanet Fitness 2021 Revenue Increases 44 Percent Over 2020, But Not Yet Back to 2019 Revenue
Planet Fitness, Hampton, New Hampshire, reported 2021 revenue of $587 million, compared to $406.6 million in 2020, and fourth quarter 2021 revenue of $183.6 million, compared to $133.8 million in fourth-quarter 2020, the company announced on Feb. 24.
Planet Fitness to Acquire 114 Franchised Locations
Today, Planet Fitness, Inc. announced it entered into a definitive agreement to acquire Sunshine Fitness Growth Holdings, LLC, an owner and operator of 114 Planet Fitness clubs in the Southeast, in a cash and stock transaction valued at $800 million. The cash portion will be funded with new secured notes and cash on hand (details not yet disclosed).
Gympass Announces Collaboration with Fitness International, LLC
NEW YORK--(BUSINESS WIRE)--Gympass, the world’s largest corporate wellness platform, has announced the newest addition to its network of participating locations: Fitness International, LLC, the operator of the LA Fitness, City Sports Club, and Esporta Fitness brands. With this addition, Gympass users may now be eligible to access some of the most popular fitness clubs in the country.
Partnership With LA Fitness and City Sports Clubs
Today, Xponential Fitness, Inc. announced an exclusive development agreement with Fitness International, LLC, which operates LA Fitness and City Sports Clubs.
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