Vietnam’s Premium Gym Chains Face Pressure as Long-Term Prepaid Model Falters
Vietnam’s premium gym chains face fewer new members, high rents and competition from lower-cost gyms. Citigym has closed a Ho Chi Minh City location and begun selling shorter memberships as the industry reassesses its reliance on long-term prepayments.
Vietnam’s premium gym chains are facing business pressure. Citigym’s location at Vạn Hạnh Mall in Ho Chi Minh City closed on November 10, 2026, and another location has also suspended operations, leaving seven open. A member with a long-term membership and unused personal training sessions said moving to another location was inconvenient. Another member said her California Fitness & Yoga membership is valid until 2029, but she can no longer find a location of the brand operating in Ho Chi Minh City.
Activity at a Citigym location in Ho Chi Minh City on September 25.（VietVance）
An analysis by Webthethao says premium chains previously relied on long-term memberships and prepaid personal training sessions for cash revenue. Their large gyms in prime locations also carry high fixed costs. As the number of first-time membership buyers falls, that source of cash tightens. Premium memberships run from six months to five years, while some lifetime memberships cost 70 million to 150 million Vietnamese dong.
Rent magnifies the effect of changes in revenue. The report estimates that monthly rent accounts for about 35% to 45% of monthly revenue at Vietnamese gyms measuring 1,500 to 3,000 square meters. Its calculations show that, if other costs remain unchanged, a large location where rent accounts for 38% of revenue ceases to be profitable when revenue falls by about 6%.
Webthethao’s simulation of how profits at two gym locations change when revenue falls.（VietVance）
Lower-cost and specialized gyms are also competing for customers. Waystation has 39 locations in Ho Chi Minh City and charges about 300,000 Vietnamese dong a month. The New Gym charges from 299,000 dong a month and expanded from 10 to 15 locations over four years. The growth of specialized classes, including yoga and Pilates, has also weakened the appeal of premium gyms offering a broad range of services.
Webthethao expects Vietnam’s gym market to keep expanding over the next decade, but locations may become smaller and charge more often by the month or session. Citigym has begun selling one- to three-month memberships, with group classes offered as a separate option.
Source: VietVance
