CHICAGO — Every almost 40-year-old looks at the possibility of a makeover, and fitness clubs are no exception. TCA Holdings, which owns Tennis Corp. of America clubs, launched the $30 million makeover of its 13 facilities last month with a name change to Midtown Athletic Clubs.
“We should have done this 10 years ago,” says Steven Schwartz, president and CEO of TCA Holdings. Increased competition and the need to shore up its brand as an upscale club, however, led to the change this year.
Along with the name change, the company will invest $30 million in upgrades to its facilities, including standardizing (or putting in place) cafés and pro shops, and upgrading locker rooms.
Previously, many of TCA's clubs were named according to the area of town in which they were located. The renaming gives the clubs a single brand and a chance to capitalize on brand equity, Schwartz says. Improvements have already begun at many of the clubs. Once the rollout of the renovated facilities is completed, the company will look to expand, Schwartz says.