24 Hour Fitness

24 Hour Fitness is a large U.S. health club operator that runs full‑service gyms for everyday users. Its clubs offer strength and cardio equipment, functional training areas, group fitness classes, personal training, and app‑based digital workouts, with an emphasis on practical, approachable fitness rather than boutique or luxury concepts. As of October 2025, the company operates 244 clubs across nine states, serving a sizeable membership base through a range of membership options and add‑on services.

The business began in 1983, when founder Mark S. Mastrov opened a single 24 Hour Nautilus club in San Leandro, California. In 1996 it merged with Family Fitness, a Carlsbad, California operator, and adopted the 24 Hour Fitness name. That merger created a multi‑state platform and set up a long run of growth through the late 1990s and 2000s, including new builds, acquisitions, and national visibility as a sponsor of the U.S. Olympic teams and NBC’s “The Biggest Loser.”

Over time, ownership shifted from the founder to several private equity groups. Forstmann Little & Co. acquired the company in 2005, followed by an investor group led by AEA Investors and Ontario Teachers’ Pension Plan in 2014. In June 2020, after pandemic shutdowns hit the fitness sector, 24 Hour Fitness filed for Chapter 11 protection and closed more than 130 locations. It emerged from bankruptcy in December 2020 after cutting roughly $1.2 billion of debt and transferring control to an ownership group of lenders that includes Sculptor Capital Investments LLC, Monarch Alternative Capital LP, and Cyrus Capital Partners LP. That restructuring marked a key milestone, narrowing the footprint to stronger markets and setting the stage for club upgrades and a more disciplined real estate strategy.

Today, as of October 2025, 24 Hour Fitness operates about 244 clubs in California, Colorado, Hawaii, New Jersey, New York, Nevada, Oregon, Texas, and Washington, supported by thousands of employees across its system. Most locations are larger‑format gyms that fit well into power centers, community centers, and dense suburban nodes where they can function as traffic‑driving anchors. Members use the clubs throughout the day and evening, which helps support steady foot traffic for neighboring tenants.

During the last five years, the brand has shifted from rapid expansion to careful portfolio management and targeted growth. After closing weaker units through the 2020 restructuring, the company has focused on core markets where it still enjoys strong name recognition. Recent press releases in 2023 and 2024 highlight new club openings in California and a program of ongoing upgrades across the existing base. Those investments include refreshed interiors, updated equipment, recovery and wellness zones, and programming that leans into holistic health rather than only traditional gym workouts.

Growth today is selective and centered on infill and high‑density suburban trade areas within its existing nine‑state footprint, including priority markets such as California, Texas, Colorado, Washington, Oregon, and Nevada. The brand often backfills second‑generation large boxes, which can shorten timelines and reduce build‑out risk for both the operator and the property owner. For many centers, 24 Hour Fitness functions as a seasoned, recognizable health‑club anchor with recurring membership revenue and consistent visit frequency.

Corporate information lists headquarters functions in San Ramon, California, with operational ties to Carlsbad, reflecting the company’s long presence in West Coast markets. The current ownership group and multi‑decade operating history give the brand institutional backing and experience that are meaningful when it commits to long‑term leases and large‑format space.