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David Lloyd Leisure

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David Lloyd Leisure is a chain of fitness and racquet sport centres founded by the British professional tennis player David Lloyd.

History

David Lloyd established David Lloyd Leisure in 1980 and opened the first club, aimed at providing a "family orientated" fitness and leisure facility. This was somewhat distinct to traditional gyms and sports centres of the time. There was also an emphasis on racquet sports.

Acquisition by Whitbread PLC

By 1995, there were 18 David Lloyd Leisure clubs when Whitbread PLC acquired the company for £200M , incorporating it into its Restaurants & Leisure Division. David Lloyd remained as managing director of the division until 1996 when he resigned. He was replaced as managing director by Steve Philpott [1], who was replaced, firstly by Stewart Miller, and then by Mike Tye, who remains the head of the leisure club division today.

Acquisition by London & Regional Properties

On August 2, 2007 London & Regional Properties and Bank of Scotland acquired David Lloyd Leisure Ltd for £925 million. [2] London & Regional Properties already own and operate Next Generation Clubs, the combined business will be run by the Next Generation Clubs' management team led by current CEO Scott Lloyd. [3]

Whitbread ran more than 50 David Lloyd Leisure (DLL) clubs in the UK and Ireland with a further number in Spain, the Netherlands and Belgium. DLL is Britain's biggest tennis operator and manages more than 500 tennis courts. On 4 July 2007, Whitbread announced that it had conditionally agreed to sell the David Lloyd Leisure chain to Versailles Bidco Limited for £925million. Whitbread will initially use the proceeds from the Sale to pay down debt.[4]

“Following the success of the management action taken in DLL over the last eighteen months and a review of the health club market, we have decided that this sale represents excellent value for our shareholders. Whitbread is now well placed to deliver the ambitious growth plans for its hotels, restaurants and coffee shops.” Alan Parker, CEO, Whitbread plc

Current operations

There are 78 clubs in the UK and Ireland and 10 across Europe. [5]

78

References

  1. ^ Whitbread Briefing Book 2005
  2. ^ Reuters
  3. ^ Next Generation Clubs Press release
  4. ^ "Sale of David Lloyd Leisure". Whitbread plc. 4 June 2007. URL accessed June 4, 2007.
  5. ^ David Lloyd Leisure
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