Equinox Group Executive Chairman Harvey Spevak outlined the company's aggressive growth strategy during a recent interview. He emphasized that "health is the new luxury" and highlighted the increasing demand among the wealthy for longevity and wellness products. Equinox, which claims 2025 will be a record year for profitability, plans to open 40 new clubs in various markets, including Nashville, Toronto, Charlotte, and South Florida, and also expand into the Middle East.
The company's expansion extends beyond fitness clubs to include hotels and hospitality. Equinox opened its first hotel in Manhattan's Hudson Yards in 2019 and is set to open a second in Saudi Arabia. Spevak anticipates having nearly a dozen hotels worldwide within the next seven to eight years, spanning the Middle East, the Caribbean, and the U.S. These hotels integrate large Equinox gyms, such as the 60,000-square-foot facility at the Hudson Yards location, and services like IV-drip lounges, with the one at Hudson Yards already generating a "seven-figure business."
A key part of Equinox's strategy is its ultra-luxury offerings, such as the "Optimize by Equinox" membership, launched in 2024. This program, priced at $40,000 annually, offers personalized training, nutrition, sleep coaching, massage therapy, and a health concierge. It currently boasts a waitlist of over 1,000 people, underscoring the demand for high-end wellness. Another new offering is EQX ARC, a personalized program for women that utilizes diagnostics and wearables, also with a waitlist.
Spevak noted that the global wellness market is projected to reach nearly $10 trillion by 2030, up from $6.8 trillion in 2024, driven significantly by the aging millionaire and billionaire demographic. Equinox aims to be the leading luxury brand in this expanding market. The company also collaborates with other high-end consumer brands seeking to integrate health and wellness into their offerings.
