SAN RAMON, CA – 24 Hour Fitness is celebrating the 24th anniversary of its first club opening.
“24 Hour Fitness was founded with the mission of making fitness affordable and a way of life for everyone,” says Mark Mastrov, company founder and chairman. “We are extremely proud of the fact that our 24 Hour Fitness team members have impacted millions of lives around the world, and we’re thrilled to celebrate this unique birthday.”
24 Hour Fitness, San Ramon, CA, introduced a variety of innovations during its 24 years in business. It was the first club chain to be open 24 hours a day and the first to introduce simple monthly memberships using automated electronic funds transfers. The company has built or opened more clubs in the United States than any other single operator and is the world’s largest in terms of revenue.
24 Hour Fitness has partnered with superstar athletes and celebrities like Lance Armstrong, Shaquille O’Neal, Andre Agassi, Magic Johnson, Jackie Chan and Yao Ming to open co-branded clubs around the world. The company also has sponsored the U.S. Olympic Team and has offered charitable and in-kind donations to various community causes. In addition, 24 Hour Fitness has in place strategic partnerships with consumer brands such as Coca-Cola and Nike, and is now entering its fourth year as a partner with NBC’s reality TV show “The Biggest Loser.”
Mastrov borrowed $15,000 from his grandmother to open the first 24 Hour Fitness in San Leandro, CA, in June 1983. Since then, 24 Hour Fitness has grown to more than 370 clubs in 14 states, with three million members and 20,000 employees. 24 Hour is expanding to the East Coast and will soon bring clubs to New York City, Washington, DC, and Baltimore. The company also operates 21 clubs throughout Asia.
In 2005, 24 Hour Fitness was sold to New York-based private equity firm Forstmann Little & Co. for $1.6 billion. During the next 12 months, 24 Hour Fitness will introduce a variety of promotions and programs to mark its 24th anniversary.