I'm a regular at one of those pricy gyms, and I think you're spot on. There's high utilization, and the gym actually bugs you if you haven't shown up to class i

I'm a regular at one of those pricy gyms, and I think you're spot on. There's high utilization, and the gym actually bugs you if you haven't shown up to class in a while. The high price probably leads to a degree of self-selection among members, and the class-centric nature of the gym (as opposed to just being a floor full of equipment) probably means there's business value to people being there.