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EY announces Patrick Walsh of Town Sports International Holding Inc., named Entrepreneur Of The Year® 2018 Award winner in New York


Walsh joins three decades of groundbreaking entrepreneurs.

EY announced that Patrick Walsh, Chairman and Chief Executive of Town
Sports International Holdings Inc., ("TSI," "Town Sports" or the
"Company") (NASDAQ:CLUB) received the Entrepreneur Of The Year® 2018
Award in the Transformational category in New York. Entrepreneur of The
Year is the world's most prestigious business award for entrepreneurs,
and it's the only competitive awards program for leaders of high-growth
companies. To be eligible, nominees must be the manager or owner of a
private or public company and be primarily responsible for the company's
recent performance. Walsh was selected by an independent panel of
judges, and the award was presented at a special gala event at
the Marriott Marquis on June 12.

This press release features multimedia. View the full release here:

Patrick Walsh, EY Entrepreneur Of The Year(R) 2018 New York Award Winner (Photo: Business Wire)

Patrick Walsh, EY Entrepreneur Of The Year(R) 2018 New York Award Winner (Photo: Business Wire)

"I think Entrepreneurs are the lifeblood of this country and it's great
to be recognized," said Walsh in his acceptance speech. "To all the TSI
employees, you are amazing and no one can take this away from us. I've
had the time of my life so far but I'm more excited about what we're
going to do in the years ahead."

Mr. Walsh has played a major role in several turnarounds, but none have
been as remarkable as Town Sports'. Walsh was faced with imminent
bankruptcy in the first year he took over management of the Company.
During a period when most industry expects predicted a bankruptcy or
sale, Walsh vowed to TSI shareholders to turn TSI into a thriving
enterprise. In 2018, the company's stock traded over $11.00 an increase
of over 1000% from a low of 92 cents in 2016. Walsh has led a
strategic and calculated approach to increasing shareholder value while
growing the Company's portfolio. In just the past year, TSI has
purchased Lucille Roberts, Total Woman Gym and Spa and TMPL Gym.

Since 1986, EY has honored entrepreneurs whose ingenuity, spirit of
innovation and discipline have driven their companies' success,
transformed their industries and made a positive impact on their
communities. Now in its 32nd year, the program has honored the
inspirational leadership of such entrepreneurs as:

  • Howard Schultz of Starbucks Corporation
  • Pierre Omidyar of eBay, Inc.
  • Reid Hoffman and Jeff Weiner of LinkedIn
  • Jeff Bezos of, Inc.

As a New York award winner, Walsh is now eligible for consideration for
the Entrepreneur Of The Year 2018 national program. Award winners in
several national categories, as well as the Entrepreneur Of The Year
National Overall Award winner, will be announced at the Entrepreneur Of
The Year National Awards gala in Palm Springs, California, on November
10, 2018. The awards are the culminating event of the Strategic Growth
Forum™, the nation's most prestigious gathering of high-growth,
market-leading companies.


Founded and produced by EY, the Entrepreneur Of The Year Awards are
nationally sponsored in the US by SAP America, Merrill Corporation and
the Ewing Marion Kauffman Foundation.

In New York, sponsors also include Marsh, Empire Valuation Consultants,
Kirkland & Ellis LLP, Pine Hill Group, DLA Piper and SolomonEdwards

About Entrepreneur Of The Year®

Entrepreneur Of The Year®, founded by EY, is the world's most
prestigious business awards program for entrepreneurs, chosen from an
independent panel of judges including entrepreneurs and prominent
leaders from business, finance, and the local community. The program
makes a difference through the way it encourages entrepreneurial
activity among those with potential and recognizes the contribution of
people who inspire others with their vision, leadership and achievement.
As the first and only truly global awards program of its kind,
Entrepreneur Of The Year celebrates those who are building and leading
successful, growing and dynamic businesses, recognizing them through
regional, national and global awards programs in more than 145 cities in
more than 60 countries.

About EY's Growth Markets Network

EY's worldwide Growth Markets Network is dedicated to serving the
changing needs of high-growth companies. For more than 30 years, we've
helped many of the world's most dynamic and ambitious companies grow
into market leaders. Whether working with international mid-cap
companies or early stage, venture-backed businesses, our professionals
draw upon their extensive experience, insight and global resources to
help your business succeed. For more information, please visit us at or follow news on Twitter @EY_Growth.

About EY

EY is a global leader in assurance, tax, transaction and advisory
services. The insights and quality services we deliver help build trust
and confidence in the capital markets and in economies the world over.
We develop outstanding leaders who team to deliver on our promises to
all of our stakeholders. In so doing, we play a critical role in
building a better working world for our people, for our clients and for
our communities.

EY refers to the global organization, and may refer to one or more, of
the member firms of Ernst & Young Global Limited, each of which is a
separate legal entity. Ernst & Young Global Limited, a UK company
limited by guarantee, does not provide services to clients. For more
information about our organization, please visit

This news release has been issued by Ernst & Young LLP, a member of the
global EY organization that provides services to clients in the US.

For more information, please visit

About Town Sports International Holdings, Inc.

Town Sports International Holdings, Inc. is a diversified holding
company with subsidiaries engaged in a number of business and investment
activities. The Company's largest operating subsidiary has been involved
in the fitness industry since 1973 and has grown to become one of the
largest owners and operators of fitness clubs in the Northeast region of
the United States. TSI's corporate structure provides flexibility to
make investments across a broad spectrum of industries in order to
create long-term value for shareholders.

For more information, please visit

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