There are now more fitness options than ever — from big box gyms, to boutique studios, to streaming classes and even virtual reality workouts. So it’s no surprise that more people than ever are spending more than ever on fitness.
Geil said she thinks boutiques would be hit hardest in an economic downturn, given their price premium.
"Consumers are going to be dropping that from their budget. It's the easiest thing to cut, but gyms will try to up their experience to make people stay with the trainers they know and love," she added. Most of the newer fitness brands are backed by big private capital. TPG recently purchased Crunch, and Stephen Ross' Related Companies owns SoulCycle and Equinox, which recently experienced
. Related is now developing co-branded Equinox hotels and residences, hoping to capitalize on the fitness boom.
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