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Life Time Group Holdings, Inc. (NYSE: LTH) is a premier healthy lifestyle brand that designs, builds, and operates comprehensive, large-scale fitness and wellness centers. These centers, known as athletic country clubs, are located primarily in residential areas of metropolitan cities across the United States and Canada. Life Time offers a multitude of activities and amenities including professional fitness training, family recreation, spas, and resort-like environments catering to individuals and families.
Life Time's commitment to delivering uncompromising quality is evident in its range of services, which are both entertaining and educational. The company aims to meet the health and fitness needs of the entire family in an inviting and innovative manner. With over 170 athletic country clubs, Life Time has established itself as a significant player in the health and wellness industry, attracting more than 1.5 million members.
The company's recent achievements highlight its dynamic growth and innovation. In April 2024, Life Time opened its first dedicated pickleball facility in Chanhassen, Minnesota, featuring eight indoor and seven outdoor courts. This development aligns with their goal to become the premier destination for pickleball in the U.S., boasting over 630 courts across 130 clubs. The formation of the Life Time Pickleball and Tennis Board, led by tennis legend Andre Agassi, aims to elevate the profile of these sports within their communities.
Continuing its expansion in New York, Life Time launched its sixth athletic club, Life Time PENN 1, in April 2024. This 54,000-square-foot luxury club offers the most indoor pickleball courts in New York City and houses exclusive group training programs. Similarly, the newly opened Life Time Atlantic Avenue in Brooklyn provides a rich array of health and wellness offerings, complete with state-of-the-art training facilities and boutique studios.
Financially, Life Time reported a robust first-quarter performance in May 2024, leading to a raised full-year revenue and Adjusted EBITDA guidance. The company also closed a significant $40 million sale-leaseback transaction to support growth and strengthen its balance sheet. These financial maneuvers position Life Time well for continued expansion and operational excellence.
Life Time's vision is not only to provide exceptional health and wellness experiences but also to be an employer that values and develops its team members. The organization offers career growth opportunities across various roles within its clubs, supported by its mission to inspire healthy, happy lives through both physical and digital channels.
As Life Time continues to expand its footprint and enhance its offerings, it remains steadfast in its commitment to promoting a healthy way of life for its members and the broader community.
Life Time Group Holdings (NYSE: LTH) reported strong Q3 2024 financial results with total revenue increasing 18.5% to $693.2 million. Net income surged 422.5% to $41.4 million, while Adjusted EBITDA grew 26.1% to $180.3 million. The company's center memberships increased 5.4% year-over-year to 826,502, with average center revenue per membership rising 12.9% to $815. The company reduced its net debt leverage ratio to 2.4x and delivered positive operating cash flow. Life Time opened two new centers during Q3, bringing the total to 177 centers.
Life Time Group Holdings (NYSE: LTH) announced the pricing of an upsized private offering of $500 million in senior secured notes due 2031, increased from the initially planned $400 million. The notes will carry a 6.000% interest rate paid semi-annually. Concurrently, the company plans to secure a $1,000 million new term loan facility maturing in 2031. The proceeds will be used to refinance existing debt, including the 5.750% Senior Secured Notes and 8.000% Senior Notes due 2026, and repay revolving credit facility loans. The offering is expected to close on November 5, 2024.
Life Time Group Holdings, Inc. (NYSE: LTH) announced that its subsidiary, Life Time, Inc., has initiated a private offering of $400 million in senior secured notes due 2031. Concurrently, the company plans to amend its existing credit agreement to incur new term loans of $1,000 million. The proceeds from these transactions, along with cash on hand, will be used to satisfy and discharge existing notes due in 2026 and cover related expenses.
The new notes will be guaranteed on a senior secured basis by LTF Intermediate Holdings, Inc. and certain subsidiaries. They will be offered privately to qualified institutional buyers and non-U.S. persons, exempt from SEC registration requirements. Life Time operates over 175 athletic country clubs across the U.S. and Canada, serving members from 90 days to 90+ years old with various health and wellness programs.
Life Time (NYSE: LTH) has announced a record $380,000 prize purse for the 2025 Life Time Grand Prix and associated events. The breakdown includes:
- $200,000 for the Life Time Grand Prix, split equally among top 10 male and female athletes
- $180,000 for six standalone events, each offering $30,000
For the first time, UNBOUND Gravel 200, Leadville Trail 100 MTB, and Big Sugar Gravel will award prize money. The 2025 series introduces a best-five-of-six scoring system, with each athlete's lowest score dropped after the fourth event. Wild card athletes' results will be included after UNBOUND Gravel 200. This initiative aims to attract top global athletes and grow the sport domestically.
Life Time (NYSE: LTH) has renewed its alliance with the National Academy of Sports Medicine (NASM), reinforcing its commitment to professional development for its personal trainers, stretch specialists, and group fitness instructors. The collaboration provides complimentary access to NASM's ClubConnect platform, offering continued education courses, reduced rates for certifications, and exclusive workshop access.
Life Time is one of the largest employers in the training and group fitness space, with over 3,500 personal trainers, stretch specialists, and Pilates instructors, plus more than 8,500 studio instructors. The company has also launched a 4-week paid internship program for those new to personal training, offering fitness certification and hands-on skills training.
Life Time Group Holdings (NYSE: LTH) announced preliminary estimated financial results for Q3 2024, showing strong growth across key metrics:
- Total revenue estimated at $693.2 million, up 18.5% year-over-year
- Net income estimated at $41.4 million, a 422.5% increase
- Adjusted EBITDA estimated at $180.3 million, up 26.1%
- Center memberships grew 5.4% to 826,502
- Average center revenue per membership increased 12.9% to $815
The company also reported improved liquidity and reduced leverage, with total available liquidity of $529.8 million and an estimated net debt leverage ratio of 2.4x, down from 3.7x in Q3 2023. Life Time plans to refinance its existing notes and expects to deliver positive free cash flow for the second consecutive quarter.
Life Time (NYSE: LTH) celebrates World Pickleball Day on October 10th by surpassing 750 permanent pickleball courts across North America, with hundreds more planned. The company has embraced pickleball's growth, attracting hundreds of thousands of members. Life Time offers world-class locations, leagues, instructors, lessons, and tournaments, hosting both PPA and MLP events.
Recent developments include:
- Introduction of the patent-pending Ultimate Pickleball ball
- Naming Andre Agassi as chair of the Life Time Pickleball and Tennis Board
- Collaboration with elite players Ben and Collin Johns for instructional videos
- Hosting Fall Pickleball Classic tournaments at over 100 locations
Life Time continues to lead in pickleball's explosive growth, offering luxury clubs, expert programming, and a community for players of all ages and skill levels.
Life Time (NYSE: LTH) has announced details for the 2025 Life Time Grand Prix, the premier professional off-road cycling series in the United States. The fourth edition will feature 25 women and 25 men competing in six iconic off-road events. The series introduces a new gravel event at the Life Time Sea Otter Classic and adds the Life Time Little Sugar MTB in Bentonville, AR.
Key changes include:
- A best five of six competition format
- Application window opens on October 14, 2024
- 22 initial selections per gender, with 3 wild card spots determined after UNBOUND Gravel
- Wild card selection based on performance in Sea Otter Classic Gravel and UNBOUND Gravel 200
The series aims to grow the sport of cycling domestically, with sold-out events and successful video content on YouTube indicating increasing popularity.
Life Time (NYSE: LTH) has unveiled a 46,000-square-foot expansion at its Annapolis Town Center location, doubling the club's size to nearly 90,000 square feet. The expansion, announced in May 2024, transforms the former Bed, Bath and Beyond space into a pickleball haven, featuring:
- 11 permanent pickleball courts
- Courtside social lounges
- Small group training spaces
- Additional cardio and strength equipment
- Recovery and mobility services
- A pickleball pro shop
This expansion capitalizes on the growing demand for pickleball and small group training. Life Time now boasts over 750 pickleball courts nationwide as of October 2024, solidifying its position in the fastest-growing sport in the nation.
Experience Life magazine, published by Life Time (NYSE: LTH), offers 100 ideas to help families incorporate more physical activity into their daily routines. The ideas fall into eight key categories:
1. Start Small
2. Make the Adventure Bigger
3. Make Your Home Movement-Friendly
4. Get Moving in the Backyard or at Your Local Park
5. Include Older Family or Community Members
6. Do a Task Together
7. Take a Fitness Class
8. Train for a Common Goal
These suggestions aim to foster healthier, happier lives and stronger family connections. The full list of 100 ways families can move together is featured in the September/October edition of Experience Life magazine.
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