Town Sports International (TSI), New York, has partnered with Tone House to offer a second studio brand, according to an announcement from the company on Tuesday. TSI's first studio brand is Boutique Fitness Experience (BFX), which launched in 2014 and now has three locations.
Tone House, which was founded in 2014 by Alonzo Wilson, is an extreme athletic-based training studio. The first TSI location to include a Tone House will be at a downtown
"The fitness landscape has changed dramatically in the last several years," Patrick Walsh, CEO of TSI, said in a statement. "Expanding partnerships with premium studios like Tone House allows us to embrace the specialized fitness programs our customers enjoy while allowing boutique owners and other private studio brands to increase their growth while significantly reducing their financial risk. Town Sports is well-positioned to assist in Tone House's expansion in a win-win partnership model."
Elvira Yambot, COO at Tone House, said in the statement, "Tone House is pleased to partner with
The news comes three weeks after TSI released its 2015 financials, which showed that the publicly traded company had a 6.5 percent decline in revenue last year to $424.3 million. The company moved most of its clubs to a low-priced model in 2014 and 2015. This year's lower results mark the third year in a row that the company has had a revenue decrease. In 2014, the company's revenue decreased 3.5 percent. In 2013, it had a 1.8 percent decline in revenue. By contrast, the company had two years of revenue increases prior to that with a 2.6 percent increase in revenue in 2012 ($479 million in revenue) and a 1 percent increase in 2011 revenue ($466.9 million).
TSI operates 152 clubs in the Northeast and mid-Atlantic regions of the United States under the brands New York Sports Clubs, Boston Sports Clubs, Washington Sports Clubs and Philadelphia Sports Clubs.