TOP100, American Fitness Club Income List, 2018

date: 2018-11-02
Times of browsing: 21


According to the 2018 Top 100 List of American Fitness Club Industry Income, with the continuous improvement of the U.S. economy, despite the intensification of competition and industry differentiation, the income of most large fitness clubs is still growing.


No.1:LA Fitness

LA Fitness in Irvine, California, has been the top 100 clubs since 2013. This year is no exception. 

Although the company, known for its low profile, did not disclose its revenue, reliable insiders revealed that the company's revenue was $2.1 billion, up 5.7% from 2016. It should be noted that these sources can only report income for the past 12 months up to 30 September 2017. 

By 2017, the company had 705 stores, up from 689 in 2016.


No.2:Life Time

Life Time, Minnesota, earned $1.55 billion in 2017, up 5% from 2016, and continued to rank second. In the autumn of 2017, 

Life Time settled with its coaches and paid $940,000 for allegations that they were Life Time employees and that the company paid only commissions, not for cleaning, completing courses and conducting customer reviews. The company told Law360 at the time that it denied any wrongdoing and that the settlement was to avoid further litigation. More positively, Life Time opened its largest club in the United States in 2017, a $50 million, 320,000 square foot club in Charlotte, North Carolina. In June 2017, the company also announced that it would open a "healthy lifestyle village" in a former shopping mall in Edina, 

Minnesota, in partnership with Simon Real Estate Group in 2019. The project is part of a collaboration between Life Time and Simon. The company has launched operations in 2018 that should increase its revenue, including opening its first club in the Pacific Northwest, getting six massage and Spa centers, sports tourism clubs in Princeton, New Jersey and suburban Boston, and the first concept of shared workspace.


No.3:24Hour Fitness

San Ramon, California, still ranks third with revenue of $1.44 billion in 2017, up 1.48% from 2016. 24 Hour Fitness has been hiding revenue from reports of the top 100 clubs for several years. 

However, the company announced its own revenue this year (24 Hour Fitness earned revenue from other sources in the industry in previous years). The shift in attitude towards reporting financial conditions may be due to its new CEO. 

After Mark Smith left office in March 2017, Chris Russos was hired as CEO last May. By 2017, the company had 433 clubs, up from 425 in 2016. "Our goal is very clear: to increase the popularity of 24 Hour Fitness," Frank Napolitano, president of 24 Hour Fitness, said in an interview in early July. He pointed out that part of the business focus will be to attract more members inside and outside the club.


No.4:Equinox Holddings

New York-based Equinox Holdings ranked fourth again with revenue of $1.3 billion in 2017, up 19% from 2016. It should be noted that these revenues include those of Equinox, Blink Fitness, Soul Cycle and Price Yoga New York Branch. Also note that, like LA Fitness, Equinox Holdings does not report revenue on its own. 

Like LA Fitness, these sources can only report revenue for the past 12 months up to September 30, 2017. In April 2017, Niki Leondakis served as CEO, and the company plans to open its first hotel in 2019. Leonadakis has 30 years of hospitality experience, including time as president and CEO of Kimpton Hotel. Former CEO Harvey Spwak is the executive chairman and partner of Equinox Holdings. In July 2017, Equinox received a "large minority equity investment" from L Catterton, a private equity firm. The amount of investment was not disclosed. The private equity firm also invested in Peloton, Pure Barre and Core Power Yoga. 

Blink Fitness, the group's subsidiary, submitted its own data, but because the list has always included Equinox Holdings as a whole, Blink Fitness is still included in the Equinox Holdings Group. According to Blink, at the end of 2017, it had 63 clubs in four states (California, New Jersey, New York and Pennsylvania) and earned $99.25 million in 2017, up 33% from 2016. Blink Fitness expects revenue to grow by 35% in 2018 and 25 planned clubs this year. The company said it planned to enter six new markets this year, with a target of 300 clubs by 2021. 

Part of this growth began in 2018, when Golden State Warriors forward Draymond Green signed a franchise agreement with the company to open 20 stores in Michigan and Illinois.


No.5:ClubCorp

Dallas's Club Corp., which was acquired by Apollo Global Management in 2017, became a private company and has remained low profile ever since. 

Still, the company ranked fifth with $1.19 billion in revenue this year, up 1.9% from 2016. Prior to the deal, representatives of Club Corp shareholder FrontFour Capital Group wrote to Club Corp. in 2016, criticizing the company's acquisition strategy and the depreciating shareholder value at that time. 

The company made a series of acquisitions in 2016 and 2017. Two new independent directors joined Club Corp. in May 2017: Simon M. Turner, former global development president of Starwood Hotels & Resorts, and Emanuel Pearlman, executive chairman of the board of directors of Empire Resorts. About the same.



According to the 2018 Top 100 List of American Fitness Club Industry Income, with the continuous improvement of the U.S. economy, despite the intensification of competition and industry differentiation, the income of most large fitness clubs is still growing.


No.1:LA Fitness

LA Fitness in Irvine, California, has been the top 100 clubs since 2013. This year is no exception. 

Although the company, known for its low profile, did not disclose its revenue, reliable insiders revealed that the company's revenue was $2.1 billion, up 5.7% from 2016. It should be noted that these sources can only report income for the past 12 months up to 30 September 2017. 

By 2017, the company had 705 stores, up from 689 in 2016.


No.2:Life Time

Life Time, Minnesota, earned $1.55 billion in 2017, up 5% from 2016, and continued to rank second. In the autumn of 2017, 

Life Time settled with its coaches and paid $940,000 for allegations that they were Life Time employees and that the company paid only commissions, not for cleaning, completing courses and conducting customer reviews. The company told Law360 at the time that it denied any wrongdoing and that the settlement was to avoid further litigation. More positively, Life Time opened its largest club in the United States in 2017, a $50 million, 320,000 square foot club in Charlotte, North Carolina. In June 2017, the company also announced that it would open a "healthy lifestyle village" in a former shopping mall in Edina, 

Minnesota, in partnership with Simon Real Estate Group in 2019. The project is part of a collaboration between Life Time and Simon. The company has launched operations in 2018 that should increase its revenue, including opening its first club in the Pacific Northwest, getting six massage and Spa centers, sports tourism clubs in Princeton, New Jersey and suburban Boston, and the first concept of shared workspace.


No.3:24Hour Fitness

San Ramon, California, still ranks third with revenue of $1.44 billion in 2017, up 1.48% from 2016. 24 Hour Fitness has been hiding revenue from reports of the top 100 clubs for several years. 

However, the company announced its own revenue this year (24 Hour Fitness earned revenue from other sources in the industry in previous years). The shift in attitude towards reporting financial conditions may be due to its new CEO. 

After Mark Smith left office in March 2017, Chris Russos was hired as CEO last May. By 2017, the company had 433 clubs, up from 425 in 2016. "Our goal is very clear: to increase the popularity of 24 Hour Fitness," Frank Napolitano, president of 24 Hour Fitness, said in an interview in early July. He pointed out that part of the business focus will be to attract more members inside and outside the club.


No.4:Equinox Holddings

New York-based Equinox Holdings ranked fourth again with revenue of $1.3 billion in 2017, up 19% from 2016. It should be noted that these revenues include those of Equinox, Blink Fitness, Soul Cycle and Price Yoga New York Branch. Also note that, like LA Fitness, Equinox Holdings does not report revenue on its own. 

Like LA Fitness, these sources can only report revenue for the past 12 months up to September 30, 2017. In April 2017, Niki Leondakis served as CEO, and the company plans to open its first hotel in 2019. Leonadakis has 30 years of hospitality experience, including time as president and CEO of Kimpton Hotel. Former CEO Harvey Spwak is the executive chairman and partner of Equinox Holdings. In July 2017, Equinox received a "large minority equity investment" from L Catterton, a private equity firm. The amount of investment was not disclosed. The private equity firm also invested in Peloton, Pure Barre and Core Power Yoga. 

Blink Fitness, the group's subsidiary, submitted its own data, but because the list has always included Equinox Holdings as a whole, Blink Fitness is still included in the Equinox Holdings Group. According to Blink, at the end of 2017, it had 63 clubs in four states (California, New Jersey, New York and Pennsylvania) and earned $99.25 million in 2017, up 33% from 2016. Blink Fitness expects revenue to grow by 35% in 2018 and 25 planned clubs this year. The company said it planned to enter six new markets this year, with a target of 300 clubs by 2021. 

Part of this growth began in 2018, when Golden State Warriors forward Draymond Green signed a franchise agreement with the company to open 20 stores in Michigan and Illinois.


No.5:ClubCorp

Dallas's Club Corp., which was acquired by Apollo Global Management in 2017, became a private company and has remained low profile ever since. 

Still, the company ranked fifth with $1.19 billion in revenue this year, up 1.9% from 2016. Prior to the deal, representatives of Club Corp shareholder FrontFour Capital Group wrote to Club Corp. in 2016, criticizing the company's acquisition strategy and the depreciating shareholder value at that time. 

The company made a series of acquisitions in 2016 and 2017. Two new independent directors joined Club Corp. in May 2017: Simon M. Turner, former global development president of Starwood Hotels & Resorts, and Emanuel Pearlman, executive chairman of the board of directors of Empire Resorts. About the same.


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