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Revenues jump 67 per cent at Planet Fitness ahead of expansion into new markets
11 May 2022 . BY Tom Walker
The operator opened 37 new sites during Q1 2022 / Planet Fitness
Planet Fitness saw its Q1 2022 revenue increase by 66.9 per cent (to US$186.7m) on 2021 – the latest sign that the US fitness market is bouncing back.

Even more impressively, the figure marks an increase on Q1 2019 revenues (US$148.8 million) – the last comparable quarter not impacted by the pandemic.

The operator opened 37 new sites during the period, bringing the system-wide number of clubs to 2,291.

It also acquired one of its franchisees, Sunshine Fitness, increasing the number of its corporate-owned club portfolio by 114 sites.

Chris Rondeau, Planet Fitness CEO, said the company remains "bullish on the future".

"We believe that the acquisition strengthens our powerful business model by enhancing our corporate store team and diversifying the geographic profile of our corporate-owned stores," he said.

"We've also completed a refinancing, which further supports our business model, by locking in low rates on a significant portion of our debt."

Rondeau added that plans to enter into new markets – such as New Zealand and Mexico – are proceeding and will take place later this year.

Planet Fitness announced a deal to grow the New Zealand market this week (10 May 2022), following the signing of an Area Development Agreement with Castle Point Fitness NZ Ltd, a joint venture between the founder of The Fresnel Companies, LLC, a US-based investment firm and a private family office.

The agreement will bring a minimum of 25 Planet Fitness locations to New Zealand over the next "several years".

You can read HCM's recent exclusive interview with Chris Rondeau herehere.
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Magicline celebrates UK market entry at Elevate
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Thousands flock to register for Elevate 2022 in London this summer
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New £42m Moorways Sports Village to open on 21 May
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Virtuagym raises €3m investment to fuel innovation in health and fitness technology
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UK health clubs hit by rising cost of energy
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Jobs    News   Products   Magazine
PRODUCT NEWS
Revenues jump 67 per cent at Planet Fitness ahead of expansion into new markets
11 May 2022 . BY Tom Walker
The operator opened 37 new sites during Q1 2022 / Planet Fitness
Planet Fitness saw its Q1 2022 revenue increase by 66.9 per cent (to US$186.7m) on 2021 – the latest sign that the US fitness market is bouncing back.

Even more impressively, the figure marks an increase on Q1 2019 revenues (US$148.8 million) – the last comparable quarter not impacted by the pandemic.

The operator opened 37 new sites during the period, bringing the system-wide number of clubs to 2,291.

It also acquired one of its franchisees, Sunshine Fitness, increasing the number of its corporate-owned club portfolio by 114 sites.

Chris Rondeau, Planet Fitness CEO, said the company remains "bullish on the future".

"We believe that the acquisition strengthens our powerful business model by enhancing our corporate store team and diversifying the geographic profile of our corporate-owned stores," he said.

"We've also completed a refinancing, which further supports our business model, by locking in low rates on a significant portion of our debt."

Rondeau added that plans to enter into new markets – such as New Zealand and Mexico – are proceeding and will take place later this year.

Planet Fitness announced a deal to grow the New Zealand market this week (10 May 2022), following the signing of an Area Development Agreement with Castle Point Fitness NZ Ltd, a joint venture between the founder of The Fresnel Companies, LLC, a US-based investment firm and a private family office.

The agreement will bring a minimum of 25 Planet Fitness locations to New Zealand over the next "several years".

You can read HCM's recent exclusive interview with Chris Rondeau herehere.
PRODUCT NEWS
Premier Software raises over £1,000 cycling for Prostate Cancer UK
Throughout May, Premier Software’s team of cyclists aimed to ride 300 miles to increase cancer awareness, and raise important funds as part of Prostate Cancer UK’s Cycle the Month challenge.
Core Health & Fitness acquires Jacobs Ladder, meeting demand of a growing high intensity market segment
Core Health & Fitness, a portfolio company of US-based private equity firm Gainline Capital Partners LP, has acquired Jacobs Ladder, the leader in ladder climbing fitness offerings.
Power Plate UK named as finalist at ukactive Awards 2022
Power Plate has been shortlisted for the “Developing & Supporting Communities following on from Covid-19” award at this year’s ukactive Awards.
Oss Fitness wins tender for three sports centres in Burgos, Spain
Oss Fitness has won a public tender to provide new fitness equipment from Core Health & Fitness to three sports centres in the City of Burgos in Spain.
New £42m Moorways Sports Village to open on 21 May
Everyone Active will open Moorways Sports Village to the public on Saturday 21 May with a grand opening weekend – in time for the half term holidays.
Virtuagym raises 3 million Euro investment to fuel innovation in health and fitness technology
Virtuagym, the leading global fitness technology provider, has raised a new 3 million Euro investment from Icecat, an Amsterdam-based technology company which invests in innovative technology organisations.
ELASKO showcases the innovative mobile stretch & posture bar at FIBO Cologne.
ELASKO, a London based stretch fitness brand has just released the first mobile stretch and posture bar at the FIBO Cologne. This new venture is in collaboration with NOHrD, the innovators of wooden fitness equipment and part of the established WaterRower brand.
Peloton Commercial announces new Distribution Partner in the Nordic Region
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Orbit4

Orbit4 is the umbrella brand for FitnessCompared, FitnessFinance, WeServiceGymEquipment and WeBuyGym [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  

VIDEO GALLERY

Technogym Ride
Technogym is proud to unveil the new Technogym Ride. Born from Technogym’s long standing experience in cycling field and as official supplier to the best cyclists and teams around the world, Technogym Ride is the first all-in-one bike that connects all your favorite apps in just one click. Find out more...
+ More videos  

DIRECTORY
+ More directory  
DIARY

 

30-30 Jun 2022

Active Uprising 2022

The ICC, Birmingham, Birmingham , United Kingdom
03-04 Sep 2022

HEALING SUMMIT 2022 - The Healing of Everything

Pine Cliff Resort, Portugal
+ More diary  
 


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