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NEWS
Go Fit CEO, Mário Barbosa, unveils expansion plans in this month’s HCM
POSTED 15 Apr 2024 . BY Kath Hudson
Mário Barbosa speaks in this month's HCM about plans for the brand Credit: Go Fit/PabloTribello_Alta
Spanish operator, Go Fit, plans to open two new clubs each year as it grows it public:private partnerships operation
Italy is the primary focus, followed by Portugal
“No shortage of partners keen to progress with us” in the UK, says CEO
Pre-pandemic figures were smashed a year ago
Having redefined the model of public-private collaboration in Spain, Go Fit is now expanding into Italy and has ambitious plans to grow its estate, memberships and profits.

Speaking exclusively in this month’s HCM, Go Fit’s new CEO, Mário Barbosa, talks about the company’s ambitions to enter new markets, reach new audiences and raise revenues.

Last year Go Fit achieved record revenues of €77m and EBITDA of €31m in March 2023, exceeding like-for-like pre-pandemic figures. Along with plans to open two new sites a year, there are ambitions to double revenue and EBITDA over the next five years.

The company's profits are bolstered by its strong public-private alliances, which deliver favourable property transactions.

Go Fit’s model involves entering into 40-year agreements with local authorities and social-minded landowners to create clubs. This approach has been recognised by the United Nations Economic Commission for Europe as delivering best practice in public-private collaboration. In 2019, PricewaterhouseCoopers calculated Go Fit’s social value in Spain to be €300m.

This approach to sustainable public-private collaboration doesn’t yet exist in Italy, but Go Fit already has the first two sites lined up and believes the concept will be popular. “With our approach generally involving the regeneration of abandoned buildings and areas of cities, we expect there to be significant interest from local authorities across the country,” says Barbosa.

“We believe our value proposition will be of great relevance to the Italian population, too. At the moment, the market is characterised by either low-cost or premium clubs: there’s nobody offering Go Fit’s variety of products and services at our affordable price point. In fact, in the decades ahead, we believe Italy has the potential to become as big a market as Iberia for us – potentially bigger.”

The first project in Italy is converting an historic flower market in Turin and the first public-private concession is Milan Lido, which will see a huge area of the city regenerated under a 40-year agreement that has been designed to unlock future projects with other cities.

The company currently has 18 sites in Spain and one opening in Tenerife next year. As it starts its overseas expansion, Italy will be the main focus, but there are also plans to expand on the two sites in Portugal and UK is seen as an opportunity further down the line. Barbosa says the model is of interest in the UK and there are “no shortage of partners keen to progress with us.”

Barbosoa, who gave the keynote speech at last week’s European Health & Fitness Forum, has been in the post for one year, and has a background outside of the sector, working for McDonald’s for 23 years.

“What McDonald’s taught me was how to evolve and adapt to new circumstances: seeking out the opportunities, looking beyond where one might normally look for inspiration, forging different paths to overcome new challenges. This is a mindset I’m excited to bring to Go Fit,” he says.

As well as geographical expansion, Go Fit is looking to expand its audiences. Currently families are the main focus, making up 50 per cent of the membership, but there has recently been an upsurge from young people – who use the clubs as places to socialise – and older populations.

Going forward, other focuses highlighted by Barbosa include investing in sustainability, with the goal for all new centres to be Net Zero; offering targeted, certified, continuous professional development; investing in social value and building links with the local communities.

See the latest issue of .signupPara { font-family: 'Open Sans', sans-serif;; font-weight: 400; font-style: normal; font-size: 14px; line-height: 19px; position:relative; padding-left:18px; margin-top:20px; margin-bottom:20px; } .signupPara a, .signupPara a:visited { color:#711c3b; text-decoration:none;} .signupPara a:hover { color:#711c3b; text-decoration:underline;} .signupPara .signupblob { position:absolute; top:4px; left:0; content:''; width:10px; height:10px; border-radius:50%; background-color:#711c3b;}
Credit: Go Fit
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  Go fit confirms plans to enter the Italian market following release of strong financials


Iberian operator, Go fit, has confirmed its plans to move into the Italian market next year, following the release of strong year-end results for 2023.
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News   Products   Magazine   Subscribe
NEWS
Go Fit CEO, Mário Barbosa, unveils expansion plans in this month’s HCM
POSTED 15 Apr 2024 . BY Kath Hudson
Mário Barbosa speaks in this month's HCM about plans for the brand Credit: Go Fit/PabloTribello_Alta
Spanish operator, Go Fit, plans to open two new clubs each year as it grows it public:private partnerships operation
Italy is the primary focus, followed by Portugal
“No shortage of partners keen to progress with us” in the UK, says CEO
Pre-pandemic figures were smashed a year ago
Having redefined the model of public-private collaboration in Spain, Go Fit is now expanding into Italy and has ambitious plans to grow its estate, memberships and profits.

Speaking exclusively in this month’s HCM, Go Fit’s new CEO, Mário Barbosa, talks about the company’s ambitions to enter new markets, reach new audiences and raise revenues.

Last year Go Fit achieved record revenues of €77m and EBITDA of €31m in March 2023, exceeding like-for-like pre-pandemic figures. Along with plans to open two new sites a year, there are ambitions to double revenue and EBITDA over the next five years.

The company's profits are bolstered by its strong public-private alliances, which deliver favourable property transactions.

Go Fit’s model involves entering into 40-year agreements with local authorities and social-minded landowners to create clubs. This approach has been recognised by the United Nations Economic Commission for Europe as delivering best practice in public-private collaboration. In 2019, PricewaterhouseCoopers calculated Go Fit’s social value in Spain to be €300m.

This approach to sustainable public-private collaboration doesn’t yet exist in Italy, but Go Fit already has the first two sites lined up and believes the concept will be popular. “With our approach generally involving the regeneration of abandoned buildings and areas of cities, we expect there to be significant interest from local authorities across the country,” says Barbosa.

“We believe our value proposition will be of great relevance to the Italian population, too. At the moment, the market is characterised by either low-cost or premium clubs: there’s nobody offering Go Fit’s variety of products and services at our affordable price point. In fact, in the decades ahead, we believe Italy has the potential to become as big a market as Iberia for us – potentially bigger.”

The first project in Italy is converting an historic flower market in Turin and the first public-private concession is Milan Lido, which will see a huge area of the city regenerated under a 40-year agreement that has been designed to unlock future projects with other cities.

The company currently has 18 sites in Spain and one opening in Tenerife next year. As it starts its overseas expansion, Italy will be the main focus, but there are also plans to expand on the two sites in Portugal and UK is seen as an opportunity further down the line. Barbosa says the model is of interest in the UK and there are “no shortage of partners keen to progress with us.”

Barbosoa, who gave the keynote speech at last week’s European Health & Fitness Forum, has been in the post for one year, and has a background outside of the sector, working for McDonald’s for 23 years.

“What McDonald’s taught me was how to evolve and adapt to new circumstances: seeking out the opportunities, looking beyond where one might normally look for inspiration, forging different paths to overcome new challenges. This is a mindset I’m excited to bring to Go Fit,” he says.

As well as geographical expansion, Go Fit is looking to expand its audiences. Currently families are the main focus, making up 50 per cent of the membership, but there has recently been an upsurge from young people – who use the clubs as places to socialise – and older populations.

Going forward, other focuses highlighted by Barbosa include investing in sustainability, with the goal for all new centres to be Net Zero; offering targeted, certified, continuous professional development; investing in social value and building links with the local communities.

See the latest issue of .signupPara { font-family: 'Open Sans', sans-serif;; font-weight: 400; font-style: normal; font-size: 14px; line-height: 19px; position:relative; padding-left:18px; margin-top:20px; margin-bottom:20px; } .signupPara a, .signupPara a:visited { color:#711c3b; text-decoration:none;} .signupPara a:hover { color:#711c3b; text-decoration:underline;} .signupPara .signupblob { position:absolute; top:4px; left:0; content:''; width:10px; height:10px; border-radius:50%; background-color:#711c3b;}
Credit: Go Fit
RELATED STORIES
Go fit confirms plans to enter the Italian market following release of strong financials


Iberian operator, Go fit, has confirmed its plans to move into the Italian market next year, following the release of strong year-end results for 2023.
Go Fit to open new wellness hub in Tenerife in 2024


Go Fit has started work on a new wellness hub in Tenerife. It will open in Q4 of 2024 and be fully operational by the start of 2025.
MORE NEWS
QC New York to unveil 15,000sq ft multimillion-dollar expansion in July
QC New York, a luxury Italian day spa on Governors Island, will expand its offering this July by adding an extra 15,000sq ft of space. This new area will feature sensory saunas, waterfalls, a salt room, an ice room, a lavender room, a 142-seat bistro and a waterbed relaxation room.
Wellness real estate market booming – forecast to reach $913bn by 2028, reports GWI
The Global Wellness Institute (GWI) has released promising new research on the wellness real estate market at its third-annual Wellness Real Estate & Communities Symposium in Manhattan.
Banyan Group appoints Paul Hawco to spearhead wellness strategy
Paul Hawco, a seasoned figure in the international wellness industry, has assumed the role of executive director – integrated wellbeing at independent, hospitality group Banyan Group.
Ritz-Carlton Reynolds, Lake Oconee, unveils new-look lakeside destination spa
The Ritz-Carlton Reynolds, Lake Oconee in the southeastern US state of Georgia is celebrating a new milestone after unveiling its newly renovated 27,000sq ft destination spa.
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Step into a world of wellness with the Himalayan Source Salt Capsule
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Robert D. Henry Architects + Interiors

Through architecture and interior design, our goal is to enhance health and wellbeing by utilising b [more...]
+ More profiles  
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+ More catalogues  

DIRECTORY
+ More directory  
DIARY

 

18-22 May 2024

Eco Resort Network

The Ravenala Attitude Hotel, Mauritius
23-24 May 2024

European Health Prevention Day

Large Hall of the Chamber of Commerce (Erbprinzenpalais), Wiesbaden, Germany
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

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