CORONAVIRUS COVID-19 PANDEMICREAL ESTATE INVESTMENT TRUSTS & FUNDS

Viva Leisure lifts gyms revenue despite lockdown

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DESPITE the Victorian lockdown impacting its business, fitness centre operator Viva Leisure posted average monthly revenue of $8 million in the first six months of 2021, up from $5.2 million in the previous six months as Australians – for a time – moved around with more freedoms.

Just under one-third of its locations are currently out of operation due to the lockdowns in New South Wales and Victoria.

The ASX-listed group posted four consecutive months of revenue above $8 million, despite a $415,000 hole in membership fees due to a Victorian lockdown in June. June 2020 to June 2021 revenue increase by over 300%.

Net member movement from December 2020 has increased by 24,403 members.

The group has secured a further 21 locations for its greenfield pipeline.

It has just launched its new pilates, barre and yoga studio GroundUp in the ACT, which it says has exceeded expectations. A second location, also in the ACT, is expected to open in the December quarter.

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