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NEW YORK, April 26, 2021 /PRNewswire/
The global gym and health clubs market by application service (membership fees, personal training and instruction services, and total admission fee) and geography (North America, Europe, APAC, South America, and MEA) has been added to Technavio s offering. The global gym and health clubs market is expected to grow by USD 20.31 billion, at a CAGR of almost 4% during 2020-2024.
Technavio has announced its latest market research report titled Gym and Health Clubs Market by Service and Geography - Forecast and Analysis 2020-2024
The imposition of total lockdowns across the world led to a decline in the number of people participating in fitness activities. This significantly reduced the sales of memberships in gyms and health clubs in 2020. With things getting back to normal, many governments have eased the restrictions imposed on businesses. This is expected to increase the number of registrations in gyms and health clubs, th
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Equinox’s guarantee originally required it to buy back at least part of SoulCycle’s obligations if the spin studios’ debt relative to earnings exceeded certain thresholds. The new agreement releases Equinox Holdings from certain debt requirements, though another unit of the company still guarantees the obligations, said the people, who declined to provide further details of the arrangement.
Bloomberg last month reported that Equinox was seeking another amendment to the deadline. Representatives for Equinox and SoulCylce declined to comment. Reorg Research earlier reported details of the agreement.
In a note last June, S&P Global Ratings said another Related Cos. affiliate had agreed to contribute $125 million to help cover Equinox’s guarantee, but said the sum might not be enough.
Technavio Research: Global Gym and Health Clubs Market to Grow by $ 20.31 Billion During 2020-2024 | North America to Offer Several Growth Opportunities in New Normal | Technavio
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Technavio has announced its latest market research report titled Global Gym and Health Clubs Market 2020-2024 (Graphic: Business Wire)
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The rising number of fitness centers and health clubs is one of the major factors propelling market growth. However, factors such as the dearth of trained workforce will hamper the market growth.