Landmark Group reveals US$150 million investment in Fitness First in the Middle East

Dubai's Landmark Group, owner of Fitness First's Middle East franchise, is to invest US$150 million as part of a three-year regional expansion plan for the global health club brand.

Having opened 22 new clubs in the last two years, the Landmark Group currently has a network of 48 Fitness First clubs across 38 locations in the Middle East/Arabian Gulf region.

Last year it reported a 33% increase in memberships and 30% growth in year-on-year sales.

As part of the investment plan, its total number of clubs will increase to 70 by the end of 2015 with new outlets opened in the United Arab Emirates, Saudi Arabia, Kuwait, Qatar and Turkey during 2013.

The Dubai-based Landmark Group bought the Middle East franchise of the UK-based brand in 2010 and announced in October 2011 that it had major expansion plans in the region.

The finance for these plans will be raised through fresh equity and internal accruals over a three-year period.

Explaining the expansion, Landmark Hotels and Wellness Chief Executive Praveen Bhatnagar stated "we are really pleased with the performance of Fitness First in the Middle East. We are committed to bridging the gap in fitness services in the region and meeting the lifestyle aspirations of the community."

10th August 2012 - LANDMARK GROUP EXPANDS FITNESS FIRST OPERATIONS IN DUBAI

14th February 2012 - MANAGEMENT CHANGES AT FITNESS FIRST’S UK BASE 

14th September 2011 - MEMBERSHIP, PROFITS FALL AT FITNESS FIRST

16th April 2011 - PETE MANUEL TO HEAD FITNESS FIRST AUSTRALIA  

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