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Health Club Management

Health Club Management

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Health Club Management

Health Club Management

News

Bannatyne says impact of COVID-19 could be £30m

Duncan Bannatyne, CEO of Bannatyne Group, which runs spas, health clubs and hotels, says the coronavirus shutdown could cost the company £30m.

Speaking to Sky News on 7 April 2020, he said Bannatyne's bank – Royal Bank of Scotland – is supporting the business and that it will take on more borrowing under the government scheme to get through the crisis.

The company has furloughed 2,600 staff and has 400 still working. Bannatyne said it made up wages to 100 per cent in March, but that these would drop to 80 per cent thereafter. The senior team has taken a substantial pay cut. He was not asked about the impact of the shutdown on freelance staff.

The company has not paid its rent and has agreed with landlords to change to monthly, rather than quarterly, rent payments as soon as banking facilities kick in, to ease cashflow.

Bannatyne said the company will reopen all profitable sites once the shutdown is over, but will permanently shutter loss-making locations – he said he expected other operators to do the same, meaning the industry will inevitably see a shrinkage in the number of sites operating.

Members who had paid for the month of March but who lost days to the closures were being offered the chance to roll the lost days over - they have been 'very very good about it', he said.

The Bannatyne team is modelling the impact of both four- and six-month closures, so the company is prepared, he explained.

The prospect of reopening too early and having to close again would be hugely damaging, said Bannatyne, stressing the importance of timing reopening carefully.

Bannatyne took back the reins of the business last summer, following the departure of CEO Justin Musgrove, who left to take up a position in the Middle East with Leejam, the largest fitness operator in Saudi Arabia.

Bannatyne Group has a portfolio of 72 health clubs, 47 spas and four hotels, and reported a turnover of £127.5m in the year to December 2018 – its most recent 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.

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Duncan Bannatyne, CEO of Bannatyne Group, which runs spas, health clubs and hotels, says the coronavirus shutdown could cost the company £30m.
HAF,FIT,IND,PTS,OPB,PHR
2020/THUMB345252_195747_460714.jpg
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News

Bannatyne says impact of COVID-19 could be £30m

Duncan Bannatyne, CEO of Bannatyne Group, which runs spas, health clubs and hotels, says the coronavirus shutdown could cost the company £30m.

Speaking to Sky News on 7 April 2020, he said Bannatyne's bank – Royal Bank of Scotland – is supporting the business and that it will take on more borrowing under the government scheme to get through the crisis.

The company has furloughed 2,600 staff and has 400 still working. Bannatyne said it made up wages to 100 per cent in March, but that these would drop to 80 per cent thereafter. The senior team has taken a substantial pay cut. He was not asked about the impact of the shutdown on freelance staff.

The company has not paid its rent and has agreed with landlords to change to monthly, rather than quarterly, rent payments as soon as banking facilities kick in, to ease cashflow.

Bannatyne said the company will reopen all profitable sites once the shutdown is over, but will permanently shutter loss-making locations – he said he expected other operators to do the same, meaning the industry will inevitably see a shrinkage in the number of sites operating.

Members who had paid for the month of March but who lost days to the closures were being offered the chance to roll the lost days over - they have been 'very very good about it', he said.

The Bannatyne team is modelling the impact of both four- and six-month closures, so the company is prepared, he explained.

The prospect of reopening too early and having to close again would be hugely damaging, said Bannatyne, stressing the importance of timing reopening carefully.

Bannatyne took back the reins of the business last summer, following the departure of CEO Justin Musgrove, who left to take up a position in the Middle East with Leejam, the largest fitness operator in Saudi Arabia.

Bannatyne Group has a portfolio of 72 health clubs, 47 spas and four hotels, and reported a turnover of £127.5m in the year to December 2018 – its most recent 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.

Sign up for FREE ezines & magazines
Duncan Bannatyne, CEO of Bannatyne Group, which runs spas, health clubs and hotels, says the coronavirus shutdown could cost the company £30m.
HAF,FIT,IND,PTS,OPB,PHR
2020/THUMB345252_195747_460714.jpg

News

Gyms and health clubs in Dubai, UAE, have begun reopening their doors today (27 May)
HCM understands that the directors of énergie Fitness have brought in specialist company FRP Advisory
Planning approval has been granted for a new David Lloyd Club in Bicester, Oxfordshire. The
Aerobic exercise boosts blood flow into two key regions of the brain associated with memory,
Gympass has launched a new digital platform as a response to the increase in demand
Austrian medical health and wellness operator, Lanserhof, has launched a programme for people who’ve had
EMD UK
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HCM can report that Europe Active's annual thought-leader conference, the European Health and Fitness Forum
The number of people signing up for memberships at Planet Fitness has been at 2019
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A survey by Savanta ComRes, in partnership with Sport England, has studied the impact of
Gyms and health clubs in the US have begun reopening their doors, with a number
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The best time to plant a tree was 20 years ago; the second best time is now
Features
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As the sector looks into the void of the COVID-19 lockdown and its aftermath, Duncan Wood-Allum presents a blueprint for a positive future
Features
Promotional feature
Reaching members anywhere and anytime to connect, engage and coach is more important than ever and can easily be activated through Technogym Mywellness
Features
HCM research
The good news? People are changing their exercise habits in lockdown, becoming more active and spending more time exercising with their children, according to new research
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With the spread of COVID-19 forcing more people into isolation, PureGym worked with FunXtion to rapidly include a digital on-demand workout offering to support members at home
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With the coronavirus pandemic forcing gyms across the world to temporarily close their doors, staying connected to your members digitally has never been more important. Software suppliers tell Steph Eaves how they’re contributing
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With members stuck at home, now’s the perfect time to plan some cost-effective upgrades to your clubs. Suppliers explain how a flooring refresh could help attract members back in-club as the pandemic eases
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director of the Center for Skeletal Muscle Research, University of Virginia
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Michael Ramsay

Founder and director, STRONG Rowformer
There’s something about the combination of fast-twitch and slow-twitch fibres working together that absolutely destroys you and gives you an almost euphoric feeling at the end of every workout
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Dr Jonathan Leary

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Adala Bolto

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I saw the need to create a bespoke, female-specific and results-driven boutique offering that was on-trend as well as being sexy and backed by exercise science when it came to getting results
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Job search
POST YOUR JOB
Opinion
promotion
The activity industry finds itself in a position of considerable threat. Two-thirds of the world’s gyms are closed – that’s 230 million members unable to attend a fitness facility, according to data platform fitNdata.
Opinion: Ensuring members return after lockdown
Opinion
promotion
Elon Musk has plans to conquer Mars and these days the meat on your hamburger can be grown in a lab - so why are so many fitness businesses still using papers and pens to create workouts for their members?
Opinion: How the current pandemic may be helping the fitness industry to innovate
Featured supplier news
Featured supplier: Adidas calls on BLK BOX for flooring solutions at new World of Sports complex
Adidas believes that creators, just like athletes, need an environment that inspires their employees to perform and believe that through sport, we have the power to change lives.
Featured supplier news
Featured supplier: What’s your Covid-19 exit strategy? How will you use this time to relaunch your business to thrive, not just survive
There is no escaping the fact that we are operating in extraordinary times. Our physical health clubs, gyms and studios are closed and we’re trying to keep our membership engaged, fit and healthy via online and digital training.
Video Gallery
How to use the MZ-Bodyscan
MyZone
The Best Product for the Best Clubs Read more
More videos:
Company profiles
Company profile: Merrithew™ - Leaders in Mindful Movement™
Merrithew™ enriches the lives of others with responsible exercise modalities and innovative, multidisciplinary fitness offerings ...
Company profiles
Company profile: EMD UK
EMD UK is the national governing body for group exercise. Funded by Sport England, EMD ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Gym flooring
REGUPOL/Berleburger Schaumstoffwerk (BSW): Gym flooring
Locking solutions
Monster Padlocks: Locking solutions
Fitness Software
FunXtion International BV: Fitness Software
Direct debit solutions
Harlands Group: Direct debit solutions
Whole body cryotherapy
Zimmer MedizinSysteme GmbH / icelab: Whole body cryotherapy
Management software
Fisikal: Management software
Fitness equipment
Stages Cycling: Fitness equipment
Lockers/interior design
Crown Sports Lockers: Lockers/interior design
Trade associations
International SPA Association - iSPA: Trade associations
Exercise equipment
Technogym: Exercise equipment
Property & Tenders
Greywell, Hampshire
Barnsgrove Health and Wellness Club
Property & Tenders
Derby City Council
Property & Tenders
Diary dates
04 Jun 2020
Marriott Forest of Arden Hotel & Country Club, Birmingham, United Kingdom
Diary dates
13 Jun 2020
Worldwide, Various,
Diary dates
06-07 Jul 2020
Eastwood Hall, Nottingham, United Kingdom
Diary dates
28-31 Aug 2020
Expo Centre & Riviera di Rimini, Italy
Diary dates
21-24 Sep 2020
Loews Coronado Bay Resort, Coronado, United States
Diary dates
11-12 Oct 2020
ExCeL London, London, United Kingdom
Diary dates
17-23 Oct 2020
Pinggu, Beijing, China
Diary dates
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Diary dates
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Diary dates
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Athena, Leicester, United Kingdom
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