|News & Know How| News Talwalkars Hits
100-Club Mark India’s industry leader pursues aggressive growth
>India’s largest health club chain has just gotten a little bit bigger. Talwalkars Better Value
Fitness, Ltd., based in Mumbai, already has facilities in 50 cities and more than 1 million mem- bers, and, recently, it announced the opening of its 100th club. The new Ballygunge branch, situated in Kolkata, a metropolitan area in East India, made its debut in April, and, like other Talwalkars facilities, features top-of-the- line equipment and highly trained staff. Speaking at the opening,
Bulking up: Sir Richard Branson Virgin Active Acquires55 Esporta Sites
The $125.4-million deal nearly doubles the size of Virgin’s U.K. holdings
V
irgin Active, the international club chain headed by Sir Richard Branson, has nearly doubled the
size of its U.K. footprint by purchasing 55 sites from Esporta for some $125.4 million. The transaction involves 35 fitness centers and 20 racquet-sports facilities with more than 159,000 members, and increases Virgin Active’s U.K. portfolio to 126 properties. The company says its enlarged U.K.
business will have some 430,000 mem- bers and generate annual revenues of about $525 million. Earlier, in 2004 and 2005, it had
acquired 10 Esporta clubs in the U.K. and six in Spain. “The location of Esporta’s clubs is an
excellent fit with our estate and signifi- cantly strengthens our business,” says
Matthew Bucknall, the chief executive of Virgin Active. “We’ve been able to sustain … growth over the last three years, when economic conditions have been difficult, and we continue to see excellent prospects for future growth in all our territories.” Virgin Active also owns and operates
clubs in Italy, Portugal, and South Africa. Virgin Active figures prominently in
this year’s IHRSA Global 25 lists (see “The IHRSA Global 25,” pg. 36). In terms of number of facilities, it ranks No. 7 (with 194 sites); number of members, No. 7 (975,000); total revenues, No. 5 ($709 million); one-year revenue growth, No. 1 (+14%); five-year revenue growth, No. 2, (+115%); and one-year unit growth, No. 25 (+4%). Recently, it broke through the 1-million-member mark. —|
www.
ihrsa.org |
Prashant Talwalkar, the company’s CEO and managing director, described it as an “historic occasion,” and spoke of the company’s plans to “continue expanding at an increasing pace during the coming fiscal year.”
Talwalkars, Ballygunge Part of its growth strategy
involves the introduction of a new brand, known as Hi Fi, that will target a middle-income clientele. “Hi Fi will fulfill our dream of making fitness available to the masses,” says Chairman Madhu- kar Talwalkar. The company hopes to establish 25 Hi Fi locations within the next year. —|
JULY 2011 | Club Business Internat ional 17
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