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Virgin Active announces expansion plans
Health club operator Virgin Active plans to open 25 clubs in northern Italy over the next three to four years as it boosts international expansion.
According to the Times newspaper, majority share holder Virgin Group has secured most of the targeted Italian sites after signing deals with developers of several mixed-use property schemes. Virgin Active, which entered the Italian market in 2004, opened four clubs last year and now has a total of 13 in the market. The new Italian clubs were among 10 new sites added last year, with the other six in South Africa. The group now has 88 sites in South Africa, with more scheduled to open this year, and a global portfolio currently standing at 179 clubs.
Virgin Active is also targeting the Iberian Peninsula, where it has seven clubs, six of which are in Spain. The seventh Spanish club is due to open near Madrid in October, with its second Portuguese club opening in Lisbon in 2010. The announcement follows reportedly resilient 2008 trading, with Virgin Active's revenues up 9 per cent in 2008 to £341.3m, and EBITDA also up 12 per cent at £85.5m.
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