This page contains a Flash digital edition of a book.
The Reebok Sports Club in New York was the first health club created by Millennium Partners, and was then replicated elsewhere


the club and was the tenant, Reebok was originally an equity investor and Millennium the landlord.” Off the back of the success of


the New York project, Millennium Partners replicated the model in other cities: Boston, San Francisco, Miami and Washington DC. With high-rise condominium developments at the heart of each project, along with a fi ve-star hotel and street-level retail, some also encompass entertainment complexes, theatres and restaurants. All include a large-format athletic club, generally between 9,290sq m and 10,680sq m (100,000sq ft–115,000sq ft), to which both hotel guests and condominium inhabitants have direct elevator access. The latter also get slightly preferential membership rates. Curtis continues: “In the early to


mid-2000s, The Sports Club Company wanted to sell off a number of assets, but there wasn’t really anyone willing or able to step in and acquire all of the clubs. Millennium became concerned by the prospect of a number of different operators coming in to what were very important pieces of real estate for them – they feared the quality of the operations might not be consistently maintained. So it decided to look at acquiring the businesses from The Sports Club Company itself. “I came on board to work on due


diligence, along with another gentleman by the name of Nick Winter, and


april 2011 © cybertrek 2011


Our business model looks much more like what you would see in a five-star hotel


ultimately we came to the conclusion that acquisition was indeed the best option. Millennium then asked me to stay on to be CEO of the operating company running those assets, which became known as Millennium Partners Sports Club Management (MPSCM). “In January 2006, we completed the


deal and acquired six of The Sports Club Company’s 10 locations – The Reebok Sports Club and fi ve of the Sports Club LA facilities. “The clubs all operate at the highest end of the market – we’re typically


US$30–40 more expensive per month than our nearest competitor – and in fact our business model, and the way we train our people, looks much more like what you would see in a fi ve-star hotel than in a typical athletic or health club. “We also have spas in all our clubs and


run them ourselves in all but one. We hire GMs who are able to oversee both club and spa, and we have one person at a corporate level overseeing all of our spas, developing menus, buying products, standardising marketing. It makes for a better overhead structure than


Read Health Club Management online at healthclubmanagement.co.uk/digital 29


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