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Core Health & Fitness
Core Health & Fitness
Core Health & Fitness
Health Club Management

Health Club Management

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UNITING THE WORLD OF FITNESS
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Health Club Management

Health Club Management

News

Exclusive: LA fitness ‘premiumising’ London and looking to grow

LA fitness has outlined plans for growth and potential future investment as the operator confirms it is nearing the end of its CVA process.

Speaking exclusively to Health Club Management, LA fitness CEO Martin Long confirmed that, of the 33 clubs originally earmarked for disposal, 18 have since been sold and an additional five landlords have found new tenants, including the site in Chester which is now trading under the Nuffield brand. Agreement is due to be reached on the final nine or 10 clubs by the end of this month, with some due to transfer to new owners as early as this week. One club – Bedford Park – will close on Friday (14 November) of this week.

The remaining clubs – of which there will be “approaching 50 once everything is tied up by the end of the month” – will be predominantly in London and the south-east. And this core group of clubs has performed well, in spite of “significant disruption” to the estate since the CVA was announced in March, with joiners up 10 per cent and revenues up 4 per cent.

Capital will begin to be released to the entire estate at the end of Q1 2015, with all clubs due to receive investment – including completing the roll-out of LA fitness’ new Primal functional training zones and programming.

In addition, throughout the course of 2015, a further seven of the 13 central London clubs will be upgraded and rebranded to the LAX by LA fitness brand – the operator’s premium offering. These will join the existing three LAX clubs – St Botolph’s in the City of London, South Kensington, and London Wall, which is due to be relaunched as LAX in the first half of December.

“We’re ‘premiumising’ our offering in London,” confirmed Long. “At this stage I don’t plan for any more than 10 LAX clubs in total, all in prime London locations. However, even those clubs that remain under the LA fitness brand will be brought up a level in terms of their offering.

“In 2015 most of the investment will be within the M25, but the entire estate will have received a facelift by January 2016.”

There are also plans for growth going forward. “I would like to be able to open new clubs, including experimenting with new formats,” said Long. “Our shareholders are currently the banks that have seen us through the CVA, and they’ve been fantastic supporters, but they aren’t the long-term holders of the business. We have a lot of resources available for stage one of our plans, but at some point during 2015 or 2016 we’ll be looking for new investors to help us accelerate our plans and grow.”

“We’re quietly optimistic about 2015,” he concluded. “We’ve retained all the best clubs, we’ve cleared up the financials, we’ve kept the morale of our team up and we’re left with a business that’s performing well. Having fewer clubs allows us to spend more time thinking about the nuances and focusing on each club a bit more.”

LA fitness has outlined plans for growth and potential future investment as the operator confirms it is nearing the end of its CVA process.
HAF,FIT,IND,PHR
792955_665805.jpg
Latest News
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Opinion: Sealing the Leaky Bucket – 7 Research-Based Tips for Retaining New Members in January 2021
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Click on a catalogue to view it online
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News

Exclusive: LA fitness ‘premiumising’ London and looking to grow

LA fitness has outlined plans for growth and potential future investment as the operator confirms it is nearing the end of its CVA process.

Speaking exclusively to Health Club Management, LA fitness CEO Martin Long confirmed that, of the 33 clubs originally earmarked for disposal, 18 have since been sold and an additional five landlords have found new tenants, including the site in Chester which is now trading under the Nuffield brand. Agreement is due to be reached on the final nine or 10 clubs by the end of this month, with some due to transfer to new owners as early as this week. One club – Bedford Park – will close on Friday (14 November) of this week.

The remaining clubs – of which there will be “approaching 50 once everything is tied up by the end of the month” – will be predominantly in London and the south-east. And this core group of clubs has performed well, in spite of “significant disruption” to the estate since the CVA was announced in March, with joiners up 10 per cent and revenues up 4 per cent.

Capital will begin to be released to the entire estate at the end of Q1 2015, with all clubs due to receive investment – including completing the roll-out of LA fitness’ new Primal functional training zones and programming.

In addition, throughout the course of 2015, a further seven of the 13 central London clubs will be upgraded and rebranded to the LAX by LA fitness brand – the operator’s premium offering. These will join the existing three LAX clubs – St Botolph’s in the City of London, South Kensington, and London Wall, which is due to be relaunched as LAX in the first half of December.

“We’re ‘premiumising’ our offering in London,” confirmed Long. “At this stage I don’t plan for any more than 10 LAX clubs in total, all in prime London locations. However, even those clubs that remain under the LA fitness brand will be brought up a level in terms of their offering.

“In 2015 most of the investment will be within the M25, but the entire estate will have received a facelift by January 2016.”

There are also plans for growth going forward. “I would like to be able to open new clubs, including experimenting with new formats,” said Long. “Our shareholders are currently the banks that have seen us through the CVA, and they’ve been fantastic supporters, but they aren’t the long-term holders of the business. We have a lot of resources available for stage one of our plans, but at some point during 2015 or 2016 we’ll be looking for new investors to help us accelerate our plans and grow.”

“We’re quietly optimistic about 2015,” he concluded. “We’ve retained all the best clubs, we’ve cleared up the financials, we’ve kept the morale of our team up and we’re left with a business that’s performing well. Having fewer clubs allows us to spend more time thinking about the nuances and focusing on each club a bit more.”

LA fitness has outlined plans for growth and potential future investment as the operator confirms it is nearing the end of its CVA process.
HAF,FIT,IND,PHR
792955_665805.jpg

News

Nick Whitcombe, the independent gym owner who refused to shut his gym during the October
This year's UK government Spending Review, announced in Parliament by chancellor Rishi Sunak on 25
Up to 100k people will benefit from the free gym and physical activity sessions, thanks
To the relief of the sector, the UK government confirmed yesterday (23 November) that gyms,
Closing gyms and leisure facilities during any possible future lockdown would be "unthinkable", according to
Gyms, health clubs and leisure centres will be able to open their doors when the
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The University of Stirling has opened its new £20m sports and fitness centre. The building,
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Sponsored
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HCM Magazine
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The chair of énergie and vice chair of BMF talks to Kate Cracknell about creating an omnichannel approach that brings together indoor, outdoor, online and VR
HCM Magazine
Consultation
With many older people in crisis due to the pandemic, ukactive’s head of health and wellbeing development, Kenny Butler, explains why the organisation is launching an active ageing consultation and how you can get involved
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I used to worry about competition, but today, I have such confidence in our new business model I don’t feel worried. The rest of the market can try to compete, but our clubs will be in a different league
HCM magazine
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HCM magazine
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Harley Pasternak

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Having someone just feeling comfortable walking into the gym is important
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Opinion
promotion
With January now close on the horizon your thoughts will be firmly focused on sales campaigns to attract new members through your doors in the new year rush.
Opinion: Sealing the Leaky Bucket – 7 Research-Based Tips for Retaining New Members in January 2021
Featured supplier news
Featured supplier: Converting members in January has never been so simple with Volution’s new Lead Generation tool
Volution – the leading data solutions specialist for the fitness industry – has launched a Lead Generation tool that enables operators to harness the power of mobile technology and cloud-based infrastructure to streamline sales.
Featured supplier news
Featured supplier: Active IQ launches End-point Assessor qualification
Active IQ has launched its Level 3 Award in Understanding the Development and Delivery of End-point Assessment to meet the increasing demands for skilled assessors in this emerging area.
Company profiles
Company profile: EXF Fitness
EXF offer so much more than modular systems and pick and mix installations, they don’t ...
Company profiles
Company profile: TVS Group
The TVS Group supply and install sports and fitness flooring to a wide range of ...
Supplier Showcases
Supplier showcase - Bouncing back
Catalogue Gallery
Click on a catalogue to view it online
Directory
Whole body cryotherapy
Zimmer MedizinSysteme GmbH / icelab: Whole body cryotherapy
Red Light Therapy
 Red Light Rising: Red Light Therapy
Management software
fibodo Limited: Management software
Gym flooring
REGUPOL/Berleburger Schaumstoffwerk (BSW): Gym flooring
Spa software
SpaBooker: Spa software
Lockers/interior design
Fitlockers: Lockers/interior design
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Trade associations
International SPA Association - iSPA: Trade associations
Design consultants
Zynk Design Consultants: Design consultants
Wearable technology solutions
MyZone: Wearable technology solutions
Property & Tenders
11 - 25 Union St, London SE1 1SD
Bankside Open Spaces Trust
Property & Tenders
Waltham Abbey, Essex
Lee Valley Regional Park Authority
Property & Tenders
Diary dates
27-28 Nov 2020
Athena, Leicester, United Kingdom
Diary dates
03-03 Dec 2020
Virtual,
Diary dates
09 Dec 2020
Raffles City Convention Centre, Singapore, Singapore
Diary dates
02-04 Feb 2021
Ericsson Exhibition Hall, Ricoh Arena, Coventry, United Kingdom
Diary dates
23-26 Feb 2021
IFEMA, Madrid, Spain
Diary dates
03-04 Mar 2021
NEC, Birmingham, United Kingdom
Diary dates
03-06 Jun 2021
Expo Centre & Riviera di Rimini, Italy
Diary dates
16-17 Jun 2021
ExCeL London, London, United Kingdom
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates
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Core Health & Fitness
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