At ICR, Planet Fitness executives highlighted strong member retention numbers as the low-price gym giant moves forward with a planned price hike and international expansion
Planet Fitness used this month’s ICR Conference to send a clear message: the demand for fitness is stronger than it’s been in years, and the high-value, low-price (HVLP) gym giant plans to press its advantage.
It began with a blunt assertion from Planet Fitness CFO Jay Stasz.
“We are in the golden age of fitness,” he said. “You can’t open up a headline and not see the importance that’s being focused around fitness training, movement and strength training.”
He quickly followed by pointing to generational shifts, noting that Gen Z has grown up with fitness as part of its daily routine.
“So when we think about consumers and the way they spend their dollars, we think we are in a good position where they’re going to choose to spend those discretionary dollars to maintain fitness and health,” Stasz added.
That view came alongside a year of strong execution for the HVLP operator. Planet Fitness ended 2025 with 20.8 million members, opened 181 new clubs and posted a 6.7% same-store sales increase.
“If I were to sum up 2025 in one word, the word that comes to mind most often is momentum,” Planet Fitness CEO Colleen Keating said.
Beyond headline growth, Keating pointed to a retention dynamic that management views as increasingly important: members who leave Planet Fitness often return, with a mid-30% rejoin rate that she noted is consistent.
Its pricing data is something Planet Fitness pointed to as support for further increases. After raising its Classic Card membership from $10 to $15 in 2024 — a major move that came after nearly 30 years of a longstanding $10 membership model — the company plans to increase its Black Card tier from $24.99 to $29.99.
Stasz said Planet Fitness is already seeing consumers trade up to the Black Card, which offers members guest passes and access to its Black Card spa, which offers HydroMassage Beds, massage chairs, red light therapy and tanning booths.
“At $29.99, we think it’s an incredible value with the equipment we offer, with the experience we offer today,” Stasz said. “And even at that price point, we’ll still be below the average and the median of a monthly gym membership on a national basis.”
Franchise economics were another area of emphasis. When asked whether returns are moving back toward historical levels, Keating said internal rates of return are “solidly mid-20s.”
What Spain Means for Planet Fitness’ International Ambitions
On the international front, Planet Fitness pointed to Spain as proof that its high-value, low-price model can travel. The company opened its first club in Spain in July 2024.
“The ramp curve on that club was as good as or better than the U.S. and the Mexico ramp curve,” Keating said, attributing part of that performance to stronger-than-expected brand awareness outside the U.S., such as its long-running sponsorship of New Year’s Rockin’ Eve.
“We’ve got greater brand awareness in global geographies than maybe we had given ourselves credit for,” she said, adding that the company’s offering is highly differentiated within Spain’s high-value, low-price segment.
Customer response has been particularly strong. Net Promoter Scores in Spain were so elevated that the survey provider double-checked the results, Planet Fitness executives shared.
“They couldn’t believe that the scores were so high,” Keating said, adding that the firm went back and conducted hand audits of the data.
While encouraged by the early results, Planet Fitness emphasized a measured approach to international growth. Keating said the company is not looking to enter new markets simply to plant a flag, but instead wants to build meaningful scale with the right partners.
As part of its strategy, Planet Fitness plans to refranchise Spain.
“We’ve actually begun — just initiated a process,” Keating confirmed, adding that the move would allow Planet Fitness to bring in “a great franchise partner” to help grow the market.
Planet Fitness’ optimism also arrives as early indicators suggest January fitness demand is sticking around for U.S. gym operators. New foot traffic data from Placer.ai shows gym visits jumped sharply in early January and remained elevated into the second full week of the year, with minimal drop-off from resolution-driven members.
