Planet Fitness, Inc. has provided an overview of key year-end operational metrics ahead of its presentation this week at the ICR conference.
Planet Fitness reported that it grew its membership to approximately 19.7 million members and full year system-wide same-club sales increased by 5.0 percent as of December 31, 2024. The company also said it placed equipment in 124 new franchised locations and opened 150 new Planet Fitness clubs, including 21 corporate-owned locations, bringing system-wide total clubs to 2,722.
“We delivered solid results in 2024 and met the growth objectives we outlined at the start of the year,” offered company CEO Colleen Keating. “Key achievements included refinancing a portion of our debt, initiating an accelerated share repurchase program, introducing an enhanced economic model for opening and operating a Planet Fitness club, raising the new member Classic Card price for the first time in more than 25 years, and evolving our brand strategy which was deployed as part of our year-end marketing campaign.”
Keating continued, “We have continued building on our momentum to start the year by strengthening our leadership team with the additions of Chip Ohlsson as chief development officer and Brian Povinelli as chief marketing officer. Chip and Brian are both highly experienced executives with proven track records leading consumer-facing brands through periods of expansion while collaborating with franchisees to drive profitable growth. We enter 2025 with a focus on continued execution of our strategic objectives – redefining our brand, enhancing member experience, refining our product, and accelerating club openings. We’re confident that delivering on these initiatives will boost the economic value proposition for all stakeholders – franchisor, franchisees, and members – and ultimately deliver increasing value for shareholders.”
Image courtesy Planet Fitness, Inc.
