Planet Fitness vs MakeMyTrip
Planet Fitness runs one of the largest low-cost gym franchises in the U.S., collecting monthly dues from millions of value-conscious members who may or may not show up, while MakeMyTrip dominates India's online travel booking market by capturing the rapidly growing appetite for domestic and international trips among its enormous customer base. Both companies operate asset-light platforms with network effects, scaling revenue without proportionally scaling costs, but they serve entirely different consumer occasions in different geographies. The Planet Fitness vs MakeMyTrip comparison looks at member acquisition costs, unit economics, and which platform's growth runway still has more white space ahead of it.
Planet Fitness runs one of the largest low-cost gym franchises in the U.S., collecting monthly dues from millions of value-conscious members who may or may not show up, while MakeMyTrip dominates Indi...
Investment Analysis
Planet Fitness
PLNT
Pros
- Reported a 13.0% revenue increase year-over-year in Q3 2025, reaching $330.3 million.
- System-wide same club sales increased 6.9%, indicating strong ongoing customer demand.
- Executed approximately $100 million share repurchases, reflecting confidence in the business.
Considerations
- High price-to-earnings ratio around 42.3 may indicate valuation concerns relative to earnings.
- Exposure mainly in fitness sector which can be sensitive to economic downturns and discretionary spending.
- Beta of 1.30 suggests higher-than-market volatility, implying greater risk.
MakeMyTrip
MMYT
Pros
- MakeMyTrip benefits from the growing travel and online booking market driven by accelerating demand post-pandemic.
- Strong brand recognition in India’s expanding digital travel services sector with a large customer base.
- Continued investments in technology and partnerships improve user experience and competitive positioning.
Considerations
- Highly exposed to economic cycles affecting travel demand, making revenues volatile during downturns.
- Faces intense competition from global and local online travel agencies impacting pricing power and margins.
- Regulatory changes in the travel sector and geopolitical uncertainties could negatively affect international bookings.
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Part of Exinity Group 2015, serving over a million customers globally.
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