Popular fitness chain the Gym Group has announced that it will be raising its membership prices across all 203 of its venues.
The low-cost gym company has been forced to increase membership prices to offset surging energy bills amid the ongoing cost of living crisis in the UK.
The Gym Group have said that they are expecting a 4-6% cost increase of around £2 million in utility bills over the second half of the year, however they are insistent it will remain among the cheapest in the market despite the price hike.
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The firm's chief executive said while price rises will not fully offset cost pressures this year, he hopes surging membership numbers will help long-standing gyms recover to pre-pandemic sales by the end of 2022.
Richard Darwin said: "The Gym Group has had an encouraging start to the year, building on the momentum of our excellent recovery in 2021.
"We are confident that our high margin, low-cost business model and our yield optimisation strategy will help to mitigate the impacts of the current inflationary environment."
The Gym Group are also planning a "brand transformation" starting this spring to further boost membership, with new signage being rolled out across all sites and a brand relaunch campaign. More sites are also in the pipeline, with aims to open another 28 gyms in 2022.
