Honors Holdings, LLC, the world’s largest franchisee of Orangetheory Fitness studios, has acquired 24 additional locations. The franchisee now operates 102 studios across the U.S.
The acquired locations span six states, such as Nevada, New York and Washington, D.C.
According to Jamie Weeks, the founder and CEO of Honors Holdings, the franchisee was fortunate to weather the COVID-19 pandemic while still paying its employees. These new acquisitions, according to Weeks, mark a return to the aggressive growth the franchisee delivered prior to the pandemic.
From the end of 2017 to the beginning of 2020, Honors Holdings portfolio grew from 14 locations to 70. In addition to the newly acquired Orangetheory Fitness locations, the franchisee plans to open more than 20 new studios in the upcoming year.
“We’re fortunate to have an amazing franchisor in Orangetheory Fitness — we couldn’t ask for a better partner,” said Weeks, in a statement. “Over the last year, we experienced the commitment of their leadership team firsthand as we worked together to address the challenges of the pandemic. The members have always been the No. 1 priority for all Orangetheory franchisees.”
Honors Holdings was founded in 2014 by Weeks and is headquartered in Atlanta, Georgia. The franchisee boasts locations in Georgia, Kansas, Massachusetts, Nevada, New York, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Virginia and Washington state.
Prospect Hills Growth Partners is Honors Holdings’ majority equity partner. The franchisee also recently received a preferred equity investment from an affiliate of KSL Capital Partners, LLC.