Cinemas and gyms pave the way for leisure
Published: 01 November, 2010
Value and experience are the two key themes currently dominating the UK leisure sector according to Savills.
The international real estate advisor has identified that low cost gyms and high-tech cinemas are leading the way in appealing to consumers looking to save time and money.
Both sectors have remained upbeat throughout 2010 with ‘no frills’ gym operators such as The Gym, Gym 4 All and Pure Gym undertaking aggressive expansion strategies and cinemas reporting an annual growth in admissions over the last three years from approximately 160 million in 2007 to 175 million in 2010.
Andrew McGregor, director at Savills, explains: “On the one hand we are seeing consumers driven by value when it comes to an activity that they see as more of a chore or necessity such as the gym, which is why those operators that can offer flexibility with either a monthly, weekly or even ‘pay as you go’ charge at an affordable price have proved so popular.
“In comparison, those pursuits that are perceived as more of a treat or luxury such as the cinema, have seen consumers prioritising their experience by paying more and travelling further to cinemas that can offer new digital and 3-D technology in comfortable surroundings.”
David Bell, associate director at Savills, added: “With the development of HD and digital, cinemas have been competing with ‘the sofa’ over the last five years. However, the evolution of 3-D has now catapulted the cinema industry into a new era, providing a point of difference that remains appealing despite higher admission costs and potential longer journeys to cinemas showing these films.”
