HCM Issue 8 2021

Page 41

model that will help us enter premium markets we’ve long wanted to be in, but struggled to find the right location. Here, it will be about reviewing the product mix to work in a smaller space. Do we need tennis or should we focus on spa instead? What should the kids’ offering be compared to the norm? These are some of the discussions we’re having as an organisation at the moment. Then in Europe, acquisition is our key growth strategy. Growth via single-location new-builds in target cities is infinitely harder in Europe than it is in the UK, so we’re looking to acquire multi-site operators where we not only get an immediate foothold, but also local expertise within a management team that comes with the business. There’s already one important acquisition underway

photo: DLL

DLL already has seven spa retreats in the UK and plans to invest further

in Spain – we’re in the process of concluding the deal and hope to be able to announce it very soon. Our commitment to developing in Europe has been strengthened by the pandemic. We’ve decided to focus on Germany, Italy and Spain – and possibly Switzerland, as we’ve recently acquired the Geneva Country Club, so have a foothold in that market. At this stage, anything we acquire outside these territories would simply be because the opportunity was just too good to turn down. We aim to cement ourselves as the largest premium health and fitness operator in Europe – and once we’ve done that, we’ll look further afield. We believe ours is a brand that can operate in multiple international markets. l More: www.davidlloyd.co.uk ©Cybertrek 2021 Issue 8 2021