IRVING, TX — TRT Holdings, the parent company of Gold's Gym International (GGI), is showing its appreciation for the company's performance this year with an influx of capital.
TRT is investing more than $20 million into Gold's 62 corporate-owned clubs. The investment is earmarked for new equipment and other improvements at the corporate clubs.
Without giving specific revenue figures, Joel Tallman, senior vice president of franchising and global operations for GGI, says earnings from franchising, licensing and corporate operations are exceeding company expectations this year.
“This is definitely a reflection of the excitement of TRT and the performance of Gold's Gym over the last year,” Tallman says. “It creates a foundation for purchasing built off of the 62 corporate gyms, and then the ability to offer those negotiated pricings and those savings and volume discounts to our franchisees both domestically and internationally. It really is the first time we've had that kind of leverage with millions of dollars in pure purchasing power.”
Gold's is experiencing its biggest growth internationally. The company has 165 international clubs, with an additional 200 clubs in the pipeline and 17 new countries signed, Tallman says. Mindful of that growth, Gold's recently launched its new global vendor program, designed to give vendors exclusive access to GGI's network of franchisees and franchise training.
Gold's also has more than 470 franchised clubs in the United States.