24 Hour Fitness is finally growing again in the Las Vegas Valley. Executive chairman Mark Mastrov has signed a lease for a new location set to open early next year, and he's already eyeing two or three more sites across the Valley — a notable reversal for a chain that once operated just a single Southern Nevada gym.
The expansion comes as the company's lone remaining Valley location, the Summerlin club off Town Center Drive at Summerlin Parkway, prepares for its own relaunch. That gym just underwent a $1.5 million remodel and will hold a grand opening on October 3, according to the Las Vegas Review-Journal. The Summerlin club opened more than 20 years ago as an Andre Agassi-branded 24 Hour Fitness, per the same report, and Mastrov said, “It's always been a great club for us.”
The building that houses that Summerlin gym, a two-story, 57,963-square-foot property at 2090 Village Center Circle, is also listed for sale for $18 million as a single-tenant net-leased asset, according to Crexi. The listing includes a newly executed 12-year lease extension for 24 Hour Fitness with 3 percent rent increases every three years, a sign the gym operator intends to stay put even as the property itself changes hands.
From 440 Clubs to One, and Back Again
24 Hour Fitness's retreat from Las Vegas traces back to its June 2020 Chapter 11 bankruptcy filing, when the chain closed eight Las Vegas-area locations — wiping out roughly 80 percent of its local footprint, the Review-Journal reports. At the time, then-CEO Tony Ueber said, “If it were not for COVID-19 and its devastating effects, we would not be filing for Chapter 11,” according to the same report. The chain had operated more than 440 clubs nationwide in early 2020 and emerged from bankruptcy protection later that year with nearly 300.
That restructuring shed approximately $1.2 billion in debt, according to Health Club Management, debt the company had accumulated following a 2014 leveraged buyout by private equity investors. The pandemic hit the broader industry hard too: the Health & Fitness Association reported around 6,800 health clubs permanently closed by the end of 2020, per the Review-Journal, with the industry losing $20.4 billion in revenue that year.
Mastrov's Second Act With the Brand He Founded
Mastrov launched 24 Hour Fitness in 1983 with a single gym in San Leandro, California, and grew it to more than 300 locations by 2005, when he sold it to a private equity firm for what he said was $1.68 billion, per the Review-Journal. He remained executive chairman until 2008, then acquired Crunch Fitness with other investors in 2009 — a chain that had just 22 gyms and had filed for bankruptcy that same year. Under Mastrov, Crunch grew past 300 locations by 2019 and topped 500 gyms before an investment firm acquired a majority stake last year.
Mastrov reacquired 24 Hour Fitness alongside LongRange Capital in January 2026, at what he said was a price a lot less than his 2005 sale. He now serves as interim CEO after Karl Sanft departed in August, according to Athletech News. Following the January acquisition, the company reported operating roughly 240 locations nationwide, employing 7,000 workers and hosting more than 113 million annual member workouts, per LongRange Capital.
Membership dues at 24 Hour Fitness start at around $25 a month, and Mastrov told the Review-Journal he hasn't seen a big membership drop amid the jittery economy. Of his renewed Las Vegas ambitions, he said, “Hopefully we'll build a bunch more.”
A Crowded Valley Fitness Market
EōS Fitness's parent private equity firm, TSG Consumer Partners, has a goal of reaching 250 clubs nationwide by 2030. TSG acquired EōS in a deal valued at approximately $1.5 billion.
Crunch Fitness, the chain Mastrov once built and sold, announced its own $6 million Las Vegas expansion in October 2025, planning three 42,000-square-foot locations across East Henderson, Rainbow, and Green Valley for the 2025–2026 winter season, according to a release distributed via PR Newswire. That local buildout is operated by franchise group Fit Fusion LLC.
Mid-tier gyms occupy a middle tier in the Valley's fitness market, sitting between budget operators like Planet Fitness and luxury mega-clubs like Summerlin's Life Time Fitness. Boutique concepts are also crowding in, with JetSet Pilates securing a three-unit Las Vegas franchise expansion in July, having sold more than 400 franchise territories nationwide by mid-2026, and Barry's scheduling its first Nevada studio at UnCommons for early 2027.
