Mike Lamb CEO, Asia of Jetts 24 Hour Fitness, which has clubs in south-east Asia, says the company’s locations in Vietnam are trading well since reopening at the end of April.
Speaking at the Fit Summit in Singapore, Lamb said: “Our Vietnam business has reopened – with no glitches so far – and it’s trading line with expectations.”
Turning to the company’s clubs in Thailand, where the government gave the go-ahead to reopen on 1 June, Lamb said he expects Jetts’ Thai operations to recover pre-COVID trading levels “Within three to four months.”
“It’s been an extremely frustrating period, but we’re raring to go,” he said.
“I don’t want this to sound too bullish, but I genuinely feel that fitness across the world will bounce back strongly. There’s absolutely no reason why we shouldn’t.
“People will be cautious, especially those who are more cautious by nature, there’ll be a little bit of easing back to full steam, but those who want to get back to fitness will do so.”
Lamb believes all operators who’ve used cash to get through the shutdown will find it hits their development pipeline in the short term, saying “I imagine Jetts will have to adjust their opening forecasts, based on less cash available.
“It will just be a question of who’s got cash in the bank to deploy. I don’t think any market has changed in its dynamics as a result of COVID,” he said. “Whatever was the case four months ago in terms of where you’d put your cash, frankly I think the same applies today.”
Jetts is part of the Fitness & Lifestyle Group, one of Asia Pacific’s biggest health and wellness operators, with 470 locations across Australia, New Zealand and south-east Asia.
The company, which is headquartered in Australia and regional offices across south-east and east Asia, had nearly 1m members before the pandemic.
Its brands include Fitness First Australia, Goodlife Health Clubs Australia, Barry’s Bootcamp Asia-Pacific, Jetts Fitness, California Fitness & Yoga, California Centuryon, Yoga Plus, UFC Gym and ERI International Clinic and Zap Fitness.
Fitness & Lifestyle Group also deliver on-demand digital health and fitness programmes through its Loup business.