SoulCycle to close in Hyde Park Village
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Aug 14, 2022

SoulCycle will close its only Tampa studio amid a wave of national layoffs and closures.

The high-end cycling studio emailed clients on Sunday that it will close its Hyde Park Village location on or around Aug. 22. The New York Post reported Friday that the company will close 20 locations across the U.S. The Post reported that a post-pandemic shift in exercise habits was among the reasons for the closures.

“As riders continue to return to in-studio classes, there have been many shifts as a result of the pandemic,” a SoulCycle representative told the Post. “Some of these shifts have been based on geography, and therefore we are naturally reevaluating our portfolio of studios to assess whether there is an opportunity to right-size in certain markets. This will allow us to continue to provide riders with the SoulCycle experience they know and love.”

It’s highly unusual for tenants in Hyde Park Village to close their doors permanently — particularly those as high-profile as SoulCycle, which opened in the shopping and entertainment district in 2019. The studio occupies more than 2,800 square feet along West Snow Avenue.

“While we are disappointed to learn of SoulCycle’s closing, the demand to serve Tampa and specifically, Hyde Park Village’s community has never been greater and we look forward to introducing yet another new offering,” Nicole Dee, general manager of Hyde Park Village, said in a statement.

SoulCycle is among several new-to-market, national brands that Boston-based WS Development, which owns Hyde Park Village, has brought to Tampa since it kicked off a multimillion-dollar property redevelopment in 2015.

Tampa is a crowded market for group fitness concepts, especially within the realm of indoor cycling. SoHo Cycling, CycleBar and Camp Tampa offer indoor cycling classes in South Tampa; RydeIt recently opened in Midtown Tampa, and Union Three opened in the Channel district shortly before the pandemic began. An Orlando-based chain of cycling studios recently announced plans for a Sparkman Wharf location.

Barry’s, which offers high-intensity interval training classes, is slated to open in the village later this year.