The European health club sector is finally showing signs of fatigue. Health club operators, particularly those at the premium end of the market, have been beset with woes such as delayed club openings, increasing debt burdens and dwindling membership numbers.

Profit warnings and gloomy outlook statements from True, Esporta, Topnotch and Holmes Place seem to have replaced news of accelerated club roll-outs and ballooning new memberships as the order of the day. However, Fitness First, the mid-range operator offering what it describes as 'affordable fitness' via dry (non-swimming) clubs, seems to be proving that it has the stamina to withstand this tougher pace.