The Bannatyne Group, which has five health clubs and three spas in East Midlands, has embarked on a UK investment programme that will reach £50 million over three years.
The investment programme has started as the company approaches its 20th anniversary and will introduce the latest technology, updated equipment and a fresh, contemporary, feel across the 69 health club and spa locations in the Bannatyne Group.
As part of the three year investment programme the company is:
- Adding new locations, including the recent acquisition from Virgin Active in Humberston, Lincolnshire
- Adding new spa facilities to existing health clubs in designated locations
- Introducing new pioneering hi-tech Technogym training equipment into all health clubs
- Introducing new functional training zones in health clubs
- Investing with third parties, including Speedflex, to bring exclusive access to exciting new training techniques
- Redesigning the layout and décor of numerous clubs and spas
Alan Jackson, Chairman of the Bannatyne Group, said: “The Company’s performance in terms of growing membership and profits has given the board confidence to embark upon a significant programme of investment. The result is already a premium health club operator delivering consistently high quality for its members at a mid-market price together with solid returns for its shareholders. The programme reflects the forward thinking of an expert management team, which is aware of technological advances and the expectations of our members.”
Justin Musgrove, CEO of Bannatyne Group, said: “Throughout this investment programme we will install 10,000 items of new equipment, refurbish 850,000 square feet of property and bring members the most dynamic health club experience available in the UK. New technology is already giving many members access to information about their fitness training, it will be extended further with some pioneering initiatives coming in the months ahead. Our acquisition programme is also on track to deliver new facilities to the Group, helping us to offer our services to more new members around mainland UK.”
“Trading this year has, so far, been strong, enabling us to build on the £11.6m profit we achieved at the end of 2016. The strong performance gives us scope to make our investments, which we also expect to create hundreds of new jobs and grow our membership significantly.”