|[June 17, 2014]
The Bay Club Company Acquired by York Capital Management and the Company's Management Team
SAN FRANCISCO --(Business Wire)--
The Bay Club Company ("Bay Club") today announced its controlling
acquisition by York Capital Management and the company's management
team, in addition to a minority investment from JMA Ventures. As part of
the transaction, the new ownership group is growing the pool of employee
owners from 40+ to more than 120 managers and directors. The seller was
an affiliate of KSL Capital Partners, LLC. Financial terms were not
Founded in 1977, the California-based, luxury, active lifestyle company
was originally known as Western Athletic Clubs until it underwent a
rebranding in 2013, bringing all eleven locations across six campuses
under one premium brand. This successful rebranding initiative is the
culmination of an extensive year-long brand realignment effort - aimed
to move Bay Club deeper into the hospitality industry while positioning
it for expansion.
Bay Club is recognized as the pioneer of the urban sports resort. Over
the past several years, Bay Club has assembled an all-star management
team-a blend of fitness, hospitality, technology, and finance veterans.
Under the direction of this team, Bay Club was given the opportunity to
evolve beyond the fitness industry. As a result, the Company entered the
realm of hospitality by grouping complementary properties into campuses
and offering its members a range of high-end lifestyle amenities
typically only found at country clubs and luxury resorts.
Matthew Stevens, president and CEO of The Bay Club Company, states "The
powerhouse combination of Bay Club, York Capital, and JMA will allow us
to fully realize our goal of creating active lifestyle campuses
throughout California and beond. Each campus will offer members a
well-curated assortment of luxury amenities and services too vast to be
offered at any single location."
Bay Club welcomes more than 55,000 members at its eleven locations
across six campuses throughout California where innovations such as the
Seventy-Seven bar lounge, Connect workplace suites and Sanctuary Spas
can be found along with luxury athletic club amenities including
world-class squash, tennis, and aquatic centers. In addition, numerous
resort-level amenities such as bocce courts, fire pits, outdoor bars and
water slides are featured throughout the campuses. Both the innovations
and amenities have helped solidify the Company's position in the
hospitality space which now points toward extensive growth over the next
Regarding the expansion, Stevens said, "The Bay Club Company is poised
for growth, as well as further developing existing active lifestyle
campuses. Our main priority is to provide our members with even greater
lifestyle benefits while expanding throughout California and beyond."
Stevens continued, "At The Bay Club Company, we talk a lot about
happiness -- what it is and how we can help our members achieve it; our
brand revolves around that concept. With our new ownership structure, we
are ideally positioned to achieve the next level of hospitality for our
active lifestyle campuses. Our goal is to create an environment that
allows members and their loved ones to experience being their happiest
About The Bay Club Company
Founded in 1977, The Bay Club Company is the owner and operator of
eleven locations across six active lifestyle campuses throughout
California. Bay Club provides club members with the finest resort-level
facilities and amenities. For 37 years, Bay Club has maintained the
highest standards of professional service, earning a reputation as one
of the leading private club companies in the United States in the
process. The company currently employs approximately 2,000 people and is
headquartered in San Francisco, California. For more information on Bay
Club, its clubs or services, visit www.bayclubs.com.
About York Capital Management
York Capital Management is an investment firm established in 1991. The
firm pursues a multi-strategy investment style and manages over $22
billion across strategies in offices in New York, London, and Hong Kong.
About JMA Ventures
JMA Ventures, LLC is a San Francisco based investment and real estate
development company with a 20-year track record of residential and
commercial projects, with in excess of $1.5 billion of real estate
investments across the United States.
About KSL Capital Partners, LLC
KSL is an investment firm specializing in travel and leisure investments
in five primary sectors: hospitality, recreation, clubs, real estate and
travel services. KSL has offices in Denver, Colorado, Stamford,
Connecticut and London, England.
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