California Fitness Refocuses on Key Markets in Asia
California Fitness Sells Fitness Business in Taiwan
Refocuses on Key Markets in Asia
Taiwan, September 29, 2010 - California Fitness, a wholly owned subsidiary of 24 Hour Fitness, announces it is selling its fitness business in Taiwan to World Gym. The sale, which is expected to be completed on September 30, 2010, involves all six California Fitness clubs in Taiwan, including five locations in Taipei and one in Taichung.
"We believe that this transaction provides the optimal solution for both companies' staff and their members," said Colin Heggie, President of California Fitness. "We believe this provides great career opportunities for our existing staff as they will be part of a larger organization. Additionally, our current members will have the opportunity to be part of a larger network than we currently operate in Taiwan."
The sale will enable California Fitness to focus on key Asian markets where it is an industry leader, and to support markets which have significant long term growth opportunities.
"The fitness industry is growing throughout Asia, as people are becoming more health conscious and making exercise part of their everyday lives. We're very proud of our history in Taiwan and look forward to focusing our resources in our key Asian markets. California Fitness recently celebrated its new club opening in Tsimshatsui, Hong Kong, while another club is scheduled to open in Singapore in early 2011. For our Taiwan team members and members we expect a seamless transition and are confident that they will value becoming a part of World Gym," added Colin Heggie.
About California Fitness
California Fitness, established in 1996, is a wholly owned subsidiary of 24 Hour Fitness Worldwide and renowned for pioneering the fitness industry in Asia. The company introduced the mega gym concept to Hong Kong with the opening of its first club in the Central district. Currently, California Fitness operates 16 clubs in Asia including 10 in Hong Kong, 4 in Singapore and 2 in mainland China, offering a wide range of features and amenities to help members live better through fitness. For more information, please visit www.CaliforniaFitness.com.