Monday 18 June 2018

Fitness First eyes $150m regional push

Manama, February 12, 2013

Fitness First Middle East, a health club chain operated under licence by Mena franchise owner Landmark Group, has announced plans to inject $150 million through fresh equity and internal accruals over a three-year period.

Since its acquisition by the Landmark Group, Fitness First has added 22 new clubs to its regional network, reported the Gulf Daily News, our sister newspaper.

Fitness First said it registered a 33 per cent increase in membership and a 30 per cent growth in sales in 2012 compared with the same period in 2011, reported .
"We are committed to bridging the gap in fitness services in the region and meeting the lifestyle aspirations of the community," Landmark Hotels and Wellness chief executive Praveen Bhatnagar said at a Press conference at the Sheraton Dubai, Mall of the Emirates.

"We currently have a network of 48 clubs across 38 locations and are on track to take this count to more than 70 clubs by the end of 2015.

"Building on our capacity, our plans for 2013 focus on expanding our network of branches in the region," he added.

Plans are in place to roll-out more clubs in the UAE, Saudi Arabia, Kuwait, Qatar and Turkey during 2013.

The brand is also exploring a strong sub-franchising model that will further consolidate its footprint in the region.

Fitness First chief operating officer George Flooks and Fitness First Mena group operations and marketing manager Mark Botha were also present at the Press conference.-TradeArabia News Service

Tags: equity | Fitness First | Landmark Group |

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