Profile: Town Sports International Holdings Inc (CLUB.O)
1 Jul 2015
Town Sports International Holdings, Inc. (Town Sports), incorporated on January 20, 2004, is an owner and operator of fitness clubs in the Northeast and Mid-Atlantic regions of the United States. As of December 31, 2014, the Company, through its subsidiaries, operated 158 fitness clubs under its four regional brand names: New York Sports Clubs (NYSC), Boston Sports Clubs (BSC), Philadelphia Sports Clubs (PSC) and Washington Sports Clubs (WSC). The Company operates in two segments, which include Clubs and BFX Studio. The Clubs segment comprises clubs under the NYSC, BSC, PSC and WSC brand names, and the clubs it owns in Switzerland. BFX Studio is the Company's private studio brand.
As of December 31, 2014, these clubs collectively served approximately 484,000 members. The Company owned and operated a total of 107 clubs under the New York Sports Clubs brand name within a 120-mile radius of New York City, as of December 31, 2014, including 37 locations in Manhattan. It owned and operated 30 clubs in the Boston region under its Boston Sports Clubs brand name, 13 clubs (two of which are partly-owned) in the Washington, D.C. region under its Washington Sports Clubs brand name and five clubs in the Philadelphia region under its Philadelphia Sports Clubs brand name, as of December 31, 2014. In addition, it owned and operated three clubs in Switzerland, as of December 31, 2014.
The Company develops clusters of clubs to serve populated metropolitan regions and it services such populations by clustering clubs near the highest concentrations of its focused customers' areas of both employment and residence. Its clubs are located for convenience to the Company's members in urban or suburban areas, close to transportation hubs or office or retail centers. The Company's members include an age demographic covering the student market to the active mature market. The Company offers three types of memberships in its clubs, which include Passport, which offers access to all clubs at all times: Core, which offers access to a single home club at all times, and Restricted memberships, which is a restricted month-to-month membership offering access to a single home club during all operating hours except certain peak hours Monday through Thursday, otherwise a usage fee applies.
The Company's fitness-only clubs average approximately 21,000 square feet, while its multi-recreational clubs average approximately 37,000 square feet. The aggregate average size of its clubs is approximately 26,000 square feet. Its clubs has an open fitness area to accommodate cardiovascular and strength-training equipment, as well as special purpose rooms for group fitness classes and other exercise programs. The Company sells its memberships through four channels: direct sales at the club level; through its corporate and group sales division; through its online Website, and through its call center. It also offers Sports Clubs for Kids programs at select clubs. The Company sells individual memberships online at www.mysportsclubs.com for its standard membership types and the Website also enables the Company to sell memberships for pre-established corporate and group programs. The Website also allows its members to give direct feedback about its service levels and enables prospective members to sign up for its one-week trial membership.
The Company competes with Equinox Holdings, Inc., Lifetime Fitness, Inc., Crunch, New York Health and Racquet, LA Fitness International LLC, 24 Hour Fitness Worldwide, Inc., Bally Total Fitness Holding Corporation, Gold's Gym International, Inc., Retro Fitness, Snap Fitness, Anytime Fitness, Planet Fitness, Flywheel, Soul Cycle, Barry's Bootcamp and Cross-Fit.
Town Sports International Holdings Inc
5 Penn Plz Fl 4
NEW YORK NY 10001-1843