Planet Fitness gym visits holding up against Covid omicron variant

Planet Fitness gym visits holding up against Covid omicron variant

A buyer wears a face masks as they raise weights whereas understanding inside a Planet Health fitness center as the placement reopens after being closed because of the Covid-19 pandemic, on March 16, 2021 in Inglewood, California.

Patrick T. Fallon | AFP | Getty Pictures

Planet Health is seeing fitness center visits and membership progress maintain up towards the Covid omicron variant, in keeping with the chain’s Chief Government Officer Chris Rondeau.

“Earlier than there was a vaccine, we did see a pullback on joins and exercises and cancellation spiking,” Rondeau mentioned in an interview Monday on CNBC’s “Squawk Field.”

“Through the delta variant and omicron, we’re not seeing that pullback. … We’re not seeing members slowing to come back in. We’re not seeing joins slowing. We’re not seeing cancelations rising,” the CEO mentioned.

Rondeau mentioned that as a substitute individuals strolling into Planet Health’ gyms are understanding greater than they’ve up to now. Members really feel extra comfy with the well being and security protocols put in place at health facilities and are prioritizing health of their lives, he added.

U.S. fitness center visits for the month of October have been down simply 8% from 2019 pre-pandemic ranges, in keeping with monitoring knowledge from funding agency Jefferies. That is forward of an anticipated surge in sign-ups and visits that usually comes across the first of the yr as shoppers decide to wholesome resolutions.

“We noticed some nice, nice momentum final yr — we noticed a second- and third-quarter progress that we had by no means seen earlier than,” Rondeau mentioned. “Member exercises are simply barely down from 2019.”

Planet Health shares rose about 17% in 2021. Peloton, meantime, dropped 76%.

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