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UNITING THE WORLD OF FITNESS
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Health Club Management

Health Club Management

News

Duncan Bannatyne takes back the reins at Bannatyne as CEO Justin Musgrove steps down

I'm thrilled to be back at the frontline
– Duncan Bannatyne

Duncan Bannatyne is to return to frontline involvement in the health club, spa and hotel business that bears his name, as current CEO, Justin Musgrove, announces his departure for a new role in the Middle East.

Bannatyne, who will function as executive chairman, said he was "thrilled to be back at the frontline, leading the business at a time of great opportunity and excitement in the UK economy".

He told HCM: "Our CEO, Justin Musgrove, has done a great job in the last five years and we wish him well as he embarks on a new career in the Middle East. He leaves the business in fine fettle and I will enjoy running it again in a more hands-on role."

Bannatyne added that, following this period of investment, the business is expected to maintain its growth and profits. It currently has 210,000 members and employs more than 3,000 people.

Bannatyne Group has a portfolio of 72 health clubs, 47 spas and four hotels, boasting a turnover of £127.5m in the year to December 2018 in its latest results. This figure represents growth of 8.5per cent on its 2017 results (£117.6m). Profit improved slightly, from £14.3m to £14.6m between the two years.

The group has been progressing through a three-year, £50m re-equipping and refurbishing programme, with the final stage of this now starting. It said that new app-based technology allowing members to monitor their fitness using personal electronic wristbands has been rolled out successfully.

Musgrove, who was previously with Center Parcs, has steered the company into safe waters following a serious fraud incident in 2014.

Christopher Watson, the former finance director of the Bannatyne Group, was jailed in 2015 after admitting to defrauding the company out of nearly £8m over a six-year period.

Watson took £7,974,221 from July 2008 to July 2014, which he used to pay off millions of pounds of gambling debts and buy several properties.

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Diary dates
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News

Duncan Bannatyne takes back the reins at Bannatyne as CEO Justin Musgrove steps down

I'm thrilled to be back at the frontline
– Duncan Bannatyne

Duncan Bannatyne is to return to frontline involvement in the health club, spa and hotel business that bears his name, as current CEO, Justin Musgrove, announces his departure for a new role in the Middle East.

Bannatyne, who will function as executive chairman, said he was "thrilled to be back at the frontline, leading the business at a time of great opportunity and excitement in the UK economy".

He told HCM: "Our CEO, Justin Musgrove, has done a great job in the last five years and we wish him well as he embarks on a new career in the Middle East. He leaves the business in fine fettle and I will enjoy running it again in a more hands-on role."

Bannatyne added that, following this period of investment, the business is expected to maintain its growth and profits. It currently has 210,000 members and employs more than 3,000 people.

Bannatyne Group has a portfolio of 72 health clubs, 47 spas and four hotels, boasting a turnover of £127.5m in the year to December 2018 in its latest results. This figure represents growth of 8.5per cent on its 2017 results (£117.6m). Profit improved slightly, from £14.3m to £14.6m between the two years.

The group has been progressing through a three-year, £50m re-equipping and refurbishing programme, with the final stage of this now starting. It said that new app-based technology allowing members to monitor their fitness using personal electronic wristbands has been rolled out successfully.

Musgrove, who was previously with Center Parcs, has steered the company into safe waters following a serious fraud incident in 2014.

Christopher Watson, the former finance director of the Bannatyne Group, was jailed in 2015 after admitting to defrauding the company out of nearly £8m over a six-year period.

Watson took £7,974,221 from July 2008 to July 2014, which he used to pay off millions of pounds of gambling debts and buy several properties.

Sign up for FREE ezines & magazines
Related news

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Leading UK cancer charities have called for newly diagnosed to be prescribed exercise and nutrition
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EMS training is a great opportunity to differentiate your offering in a crowded fitness market. The kit requires very little space and the business model can be extremely lucrative - Phil Horton, miha bodytec
Job search
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Featured supplier news
Featured supplier: Myzone vs. wrist trackers
According to ACSM’s Health and Fitness Journal, wearables trumped the top spot for trends in 2019. However, the question between Myzone or wrist trackers still stands.
Featured supplier news
Featured supplier: New London PT facility partners with Eleiko
WE11, a luxury co-working studio for wellness professionals, is a stunning facility with a fully equipped gym, treatment rooms, changing rooms and The WE11 Lounge.
Opinion
promotion
Member retention is a growing problem for long-established gym chains, who are battling the growing budget and boutique gym market.
Opinion: Are you trying to beat budget gyms at their own game?
Video Gallery
Harlands Group Overview
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An overview of the Harlands Group, the membership management experts. Read more
More videos:
Company profiles
Company profile: TRX Training UK
TRX provides world-class functional training by offering quality equipment, effective workouts and world-class education capable ...
Company profiles
Company profile: Incorpore Ltd
Incorpore is a leading fitness and wellness company who have been successfully delivering solutions to ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Architects/designers
Zynk Design Consultants: Architects/designers
Spa software
ResortSuite: Spa software
Exercise equipment
Eleiko Sport AB: Exercise equipment
Fitness equipment
FunXtion International BV: Fitness equipment
Professional services
Deloitte UK: Professional services
Skincare
Comfort Zone - Davines S.p.A: Skincare
Lockers/interior design
Craftsman Quality Lockers Ltd: Lockers/interior design
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Management software
GymSales: Management software
Whole body cryotherapy
Zimmer MedizinSysteme GmbH / icelab: Whole body cryotherapy
Property & Tenders
Diary dates
23-25 Jul 2019
Melbourne Convention and Exhibition Centre, Melbourne, Australia
Diary dates
05-06 Sep 2019
TagusPark, Oeiras, Portugal
Diary dates
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