VASA Fitness, one of America’s fastest-growing high-value, low-price (HVLP) gym chains, has appointed Michael Osanloo as its new Chief Executive Officer, effective immediately. Osanloo, a seasoned consumer brand executive best known for leading restaurant chains Portillo’s and P.F. Chang’s, steps into the role following the retirement of longtime CEO Rich Nelsen, who spent eight years building VASA from a 26-club regional operator into a 71-location powerhouse spanning eight states.
The leadership transition marks a pivotal chapter for VASA Fitness as the HVLP fitness segment faces its most competitive era yet — and comes at a time when low-cost gym operators are commanding serious attention from institutional investors, private equity, and health-conscious consumers alike.
From Fine Dining to Fitness Floors: Why a Restaurant CEO is Running a Gym Chain
At first glance, the jump from hamburgers and hot dogs to treadmills and squat racks may seem unconventional. But for VASA Fitness, hiring Michael Osanloo is a deliberate strategic play rooted in consumer brand scaling expertise — not fitness industry insider knowledge.
Osanloo brings a distinguished track record of growing complex, multi-location consumer brands. As President and CEO of Portillo’s, the beloved Chicago-style restaurant chain, he oversaw significant market expansion and successfully led the company through its 2021 IPO. Before that, as CEO of P.F. Chang’s, he managed a global portfolio of more than 300 locations while driving international brand development. His executive resume also includes senior leadership stints at Kraft Heinz and Caesars Entertainment, as well as nearly a decade as a partner at Bain & Company, where he advised Fortune 500 companies on growth strategy and operational efficiency.
In the HVLP fitness space, the operational challenges of managing a geographically dispersed network of gyms — from member acquisition and retention to facility standards, local marketing, and unit economics — closely mirror those of national restaurant chains. VASA’s leadership team is clearly betting that Osanloo’s consumer playbook will translate directly into gym growth.
“We are thrilled to welcome Michael to the VASA family,” said a company spokesperson. “His deep expertise in scaling consumer brands, combined with his passion for operational excellence and community building, makes him ideally suited to lead VASA into its next chapter.”
Rich Nelsen’s Legacy: Doubling Down on Value, Community, and Boutique Innovation
Outgoing CEO Rich Nelsen leaves behind a legacy of disciplined, sustained growth. During his eight-year tenure, VASA expanded from 26 clubs to 71 locations across Colorado, Utah, Idaho, Nevada, Illinois, Arizona, Kansas, and Nebraska. The company grew its workforce to more than 5,200 employees, earned three consecutive Great Place to Work® certifications, and added over 335,000 new members in 2025 alone.
Under Nelsen’s leadership, VASA also invested heavily in differentiation — a necessary move in a market increasingly crowded by Planet Fitness, EōS Fitness, and Crunch Fitness. The company developed and launched three boutique-inspired group fitness concepts: Studio Red (high-energy cardio and strength), Studio Flow (mobility and recovery-focused), and Studio LFT (strength and lifting-centric), all designed to recreate the community feel of premium studios within a large-format, affordable gym environment.
The HVLP Gym Market: A $100 Billion Battleground
Osanloo’s appointment arrives at a critical inflection point for the high-value, low-price fitness segment. Industry analysts have repeatedly identified HVLP gyms as one of the most resilient and investor-attractive categories in the broader fitness landscape, particularly as economic uncertainty drives consumers toward cost-conscious lifestyle choices.
VASA operates in the same competitive tier as Planet Fitness (2,400+ U.S. locations), EōS Fitness (expanding rapidly in the Sun Belt), and Crunch Fitness (1,000+ global locations). The pressure from these well-capitalized rivals — each competing for the same value-oriented consumer, particularly Gen Z members entering the gym market for the first time — demands both operational sophistication and bold brand positioning.
Simultaneously, the broader fitness industry is navigating seismic structural shifts: the rise of AI-powered training platforms, the explosion of GLP-1 obesity medications (and ongoing debates about whether medication can replace exercise), and a post-pandemic consumer who expects more from their gym than just equipment access. VASA’s bet on Osanloo is, in part, a bet that the lessons of consumer brand loyalty built in restaurants — speed, convenience, consistency, emotional connection — are directly transferable to the gym experience.
What to Watch: Osanloo’s First 100 Days at VASA Fitness
With a new CEO in the chair, industry observers will be watching several areas closely:
- Expansion pace: Will Osanloo accelerate VASA’s club count beyond 71 locations, potentially entering new metro markets or pursuing acquisition-based growth?
- Equipment and facility investment: New leadership often triggers capital allocation reviews. VASA’s ongoing $30M upgrade program may be expanded or redirected.
- Brand marketing and member acquisition: Osanloo’s consumer brand background suggests a potential upgrade in how VASA reaches and retains its target demographic.
- Franchise vs. corporate model: VASA currently operates as a corporate chain. Osanloo’s experience with franchised brands like Portillo’s and P.F. Chang’s could open the door to a franchise growth model.
About VASA Fitness
VASA Fitness is a leading high-value, low-price (HVLP) fitness brand operating 70+ clubs across eight U.S. states. With monthly memberships starting at $14.99, VASA delivers premium gym amenities — including group fitness studios, strength training zones, recovery suites, and family-friendly amenities — at accessible price points. The company is headquartered in Greenwood Village, Colorado. For more information, visit vasafitness.com.
About Michael Osanloo
Michael Osanloo is an accomplished executive with extensive experience in the consumer brand and restaurant industries. He recently took on the role of CEO at VASA Fitness, where he is focused on enhancing the company’s strategic direction and customer experience. Prior to this, Osanloo served as the CEO of Portillo’s, a popular fast-casual restaurant chain, where he successfully led initiatives that drove significant growth and operational efficiency. With a strong background in management and marketing, Osanloo has demonstrated a unique ability to innovate and transform brands, making a lasting impact in the sectors he has worked in. His leadership style emphasizes collaboration, customer satisfaction, and a commitment to excellence.
Infomation Source: PR Newswire
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