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Planet Fitness says membership has reached '97%' of pre-pandemic levels
POSTED 08 Nov 2021 . BY Tom Walker
Planet Fitness ended Q3 with more than 15 million members Credit: Planet Fitness
A surge in people returning to gyms has helped Planet Fitness bounce back from the pandemic lockdowns
The group had 15 million members at the end of Q3
The figure is around 97 per cent of the pre-pandemic high of 15.5 million members
The operator has 2,193 clubs across five countries
Planet Fitness says a surge in people returning to gyms has helped it recover from the pandemic lockdowns.

The franchised operator, which has 2,193 clubs across five countries, has seen its membership level nearly return to its pre-pandemic peak, allowing the group to revise its top- and bottom-line key financial guidance metrics for 2021.

Announcing its Q3 results, Planet Fitness said it had ended the quarter with more than 15 million members – which is around 97 per cent of its pre-COVID-19 high of 15.5m.

Total revenue during the three months to 30 September was US$154.3m – up 46.4 per cent on the same period in 2020.

Chris Rondeau, Planet Fitness CEO, said: "We are emerging from the COVID-19 pandemic and the third quarter, we returned to positive system-wide same-store [club] sales growth and achieved the highest sequential net member growth of any third quarter in company history, as well as our highest franchise segment revenue on record.

​​"As we look ahead to our 30th anniversary next year, I am more enthusiastic than ever with several factors driving both near- and long-term growth opportunities.

"These include our franchisees' enthusiasm to continue to invest in the brand, the transition to one agency for both our local and national advertising and the world's growing appreciation for the importance of improving overall health and wellness.

"With so much potential given the changing market dynamics and industry tailwinds, we believe that our non-judgmental and affordable model will be even more differentiated."

Planet Fitness expects new club openings for 2021 to be between 110-120 – it opened 24 during the third quarter.m of 2021.

The Q3 announcement resulted in shares in the company jumping by around 14 per cent, from US$84 to US$96.
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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.
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Jobs    News   Products   Magazine
NEWS
Planet Fitness says membership has reached '97%' of pre-pandemic levels
POSTED 08 Nov 2021 . BY Tom Walker
Planet Fitness ended Q3 with more than 15 million members Credit: Planet Fitness
A surge in people returning to gyms has helped Planet Fitness bounce back from the pandemic lockdowns
The group had 15 million members at the end of Q3
The figure is around 97 per cent of the pre-pandemic high of 15.5 million members
The operator has 2,193 clubs across five countries
Planet Fitness says a surge in people returning to gyms has helped it recover from the pandemic lockdowns.

The franchised operator, which has 2,193 clubs across five countries, has seen its membership level nearly return to its pre-pandemic peak, allowing the group to revise its top- and bottom-line key financial guidance metrics for 2021.

Announcing its Q3 results, Planet Fitness said it had ended the quarter with more than 15 million members – which is around 97 per cent of its pre-COVID-19 high of 15.5m.

Total revenue during the three months to 30 September was US$154.3m – up 46.4 per cent on the same period in 2020.

Chris Rondeau, Planet Fitness CEO, said: "We are emerging from the COVID-19 pandemic and the third quarter, we returned to positive system-wide same-store [club] sales growth and achieved the highest sequential net member growth of any third quarter in company history, as well as our highest franchise segment revenue on record.

​​"As we look ahead to our 30th anniversary next year, I am more enthusiastic than ever with several factors driving both near- and long-term growth opportunities.

"These include our franchisees' enthusiasm to continue to invest in the brand, the transition to one agency for both our local and national advertising and the world's growing appreciation for the importance of improving overall health and wellness.

"With so much potential given the changing market dynamics and industry tailwinds, we believe that our non-judgmental and affordable model will be even more differentiated."

Planet Fitness expects new club openings for 2021 to be between 110-120 – it opened 24 during the third quarter.m of 2021.

The Q3 announcement resulted in shares in the company jumping by around 14 per cent, from US$84 to US$96.
RELATED STORIES
FEATURE: Insight: Global fitness report


Qualtrics surveyed 12,157 consumers in 15 countries in seven languages to create the Les Mills 2021 Global Fitness Report, as Jak Phillips explains
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.
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There is speculation that Basic Fit will sell the five Spanish Holmes Place clubs it has just acquired from RSG Group in a 47-club deal.
Nuffield Health calls for National Movement Strategy as research shows decline in fitness levels among some consumers
Nuffield Health’s fourth annual survey, the Healthier Nation Index, has found people moved slightly more in 2023 than 2022, but almost 75 per cent are still not meeting WHO guidelines.
Immediate rewards can motivate people to exercise, finds new research
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