California Fitness announced investment of a substantial $25 million on May 26 to expand its operations in Vietnam. The funds will be used to upgrade the equipment, appearance, and services at some of its fitness clubs and extend leases at four clubs in prime locations for the next 15 years.
Hung Vuong Plaza and Pico Plaza in Ho Chi Minh City and Hanoi Capital Building and Hanoi Sky City Tower in Hanoi are the four clubs to have their leases extended. The decision to retain the location of these clubs marks an important milestone and demonstrates the shared vision and values of California Fitness and its partners.
“This reaffirms our commitment to bringing health, happiness, and hope to 100 million Vietnamese,” said Mr. Dane Fort, CEO of the Fitness & Lifestyle Group Vietnam, which owns California Fitness. “We will continue to renew our clubs so that members can have the best training space.”
He added that clubs have upgraded their exercise equipment from leading brands such as Technogym, Matrix, and True Fitness. The appearance of and lighting at clubs have also received investment to ensure that members can enjoy a high-end training environment with services commensurate with their membership payments. Facilities dedicated to yoga - Yoga Plus - have been expanded to become California Fitness Club, a multi-disciplinary practice center to meet the comprehensive training needs of a large number of members.
“Constantly creating and innovating will help us achieve our mission,” said Mr. Fort.