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Planet Fitness CEO Chris Rondeau optimistic over sector's outlook
POSTED 27 Feb 2021 . BY Tom Walker
Planet Fitness has seen seen net member growth during the early weeks of 2021 Credit: Planet Fitness
We're increasingly optimistic about our growth opportunities as the vaccine continues to rollout and consumers increasingly return to daily activities
– Chris Rondeau
People placing increased emphasis on their physical fitness, the advances made in digital fitness and the opportunities arising from a reshaped real estate landscape will help the fitness industry recover from the pandemic, according to Planet Fitness CEO Chris Rondeau.

Rondeau said that the company has already seen the green shoots of recovery during the first weeks of 2021.

"We've been able to successfully weather the ongoing challenges created by COVID-19 thus far," Rondeau said.

"We're encouraged with our start to 2021, as we have seen net member growth and improved usage, which we believe is a testament to our messaging and marketing efforts.

"While we anticipate the operating environment to remain volatile and unit growth to be modest in the near-term, we're increasingly optimistic about our growth opportunities as the vaccine continues to rollout and consumers increasingly return to daily activities, such as bricks and mortar fitness.

"This includes capitalising on industry consolidation and more favorable real estate trends which we believe will emerge over the next several years to expand our store footprint and evolve our technological capabilities to enhance our digital engagement."

Announcing its Q4 2020 results recently, Planet Fitness reported a 30 per cent decrease in revenue for the three months to 31 December 2020 (down to US$133.8m from 2019 figure of US$191.5m).

The pandemic's effects were clear, with the company revealing a 41 per cent fall in total revenue for 2020 (US$406.6m, down from US688.8m).

Planet Fitness opened 130 new clubs during the year, bringing the number of system-wide stores to 2,124 as of 31 December 2020.
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Chris Rondeau: Planet Fitness new member sign-ups are matching 2019 levels


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NEWS
Planet Fitness CEO Chris Rondeau optimistic over sector's outlook
POSTED 27 Feb 2021 . BY Tom Walker
Planet Fitness has seen seen net member growth during the early weeks of 2021 Credit: Planet Fitness
We're increasingly optimistic about our growth opportunities as the vaccine continues to rollout and consumers increasingly return to daily activities
– Chris Rondeau
People placing increased emphasis on their physical fitness, the advances made in digital fitness and the opportunities arising from a reshaped real estate landscape will help the fitness industry recover from the pandemic, according to Planet Fitness CEO Chris Rondeau.

Rondeau said that the company has already seen the green shoots of recovery during the first weeks of 2021.

"We've been able to successfully weather the ongoing challenges created by COVID-19 thus far," Rondeau said.

"We're encouraged with our start to 2021, as we have seen net member growth and improved usage, which we believe is a testament to our messaging and marketing efforts.

"While we anticipate the operating environment to remain volatile and unit growth to be modest in the near-term, we're increasingly optimistic about our growth opportunities as the vaccine continues to rollout and consumers increasingly return to daily activities, such as bricks and mortar fitness.

"This includes capitalising on industry consolidation and more favorable real estate trends which we believe will emerge over the next several years to expand our store footprint and evolve our technological capabilities to enhance our digital engagement."

Announcing its Q4 2020 results recently, Planet Fitness reported a 30 per cent decrease in revenue for the three months to 31 December 2020 (down to US$133.8m from 2019 figure of US$191.5m).

The pandemic's effects were clear, with the company revealing a 41 per cent fall in total revenue for 2020 (US$406.6m, down from US688.8m).

Planet Fitness opened 130 new clubs during the year, bringing the number of system-wide stores to 2,124 as of 31 December 2020.
RELATED STORIES
US gyms are beating COVID-19


A study of gym visit data from the US suggests that health clubs and fitness facilities are not contributing to the spread of COVID-19.
Planet Fitness share price holds steady despite Q2 losses of US$29.2m


Planet Fitness' share price on the New York Stock Exchange has remained steady at between US$49 and US$52 as the markets react well to the posting of quarterly earnings, despite the gym chain reporting big drops in both revenue and profit during Q2 2020.
Chris Rondeau: Planet Fitness new member sign-ups are matching 2019 levels


The number of people signing up for memberships at Planet Fitness has been at 2019 levels during May, according to CEO Chris Rondeau.
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Bounce back faster with a new risk-free joiner channel
The industry is eagerly awaiting the reopening of health clubs and leisure centres in another year affected by COVID-19, where the only thing that’s been certain is uncertainty. [more...]
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Physical Company supply over 1,900 product lines including some of the most pioneering pieces of k [more...]
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DIRECTORY
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DIARY

 

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Virtual, United States
05-07 May 2021

TEA SATE Europe 2020

PortAventura World, Tarragona, Spain
+ More diary  
 


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