Bloomberg Talks Planet Fitness CEO Colleen Keating Talks Earnings
Feb 24, 2026
Colleen Keating, CEO of Planet Fitness, leads the company's expansion and strategic initiatives. She discusses membership growth and pricing moves. She covers format optimization and the franchise growth model. Short, clear conversations about guidance, investment timing, and positioning in the low-price, high-value market.
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Price Hike Fueled Membership Momentum
- Planet Fitness delivered strong momentum in 2025 with 1.1 million net new members and a 10% membership lift despite raising the classic price from $10 to $15.
- Utilization, rejoin rates (mid-30%), format optimization (~80% of estate), and record unit openings (181) drove the growth narrative.
Format Upgrades Led To Record Openings
- Colleen recounts format optimization and equipment upgrades, noting nearly 80% of clubs have the optimized format and the company opened a record 181 units in 2025.
- Those concrete upgrades correlated with higher utilization and rejoin rates, reinforcing the strategy.
Trade Near-Term Revenue For Better Franchise Economics
- Accept short-term revenue timing shifts to improve long-term franchise unit economics and IRRs through a new growth model rolled out in 2024.
- The company intentionally pushed out equipment revenue in 2026 to support franchisee economics as planned in three-year projections.