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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 (NYSE: LTH) is celebrating National Pickleball Month, highlighting its status as the largest operator of pickleball courts with over 500. The Association of Pickleball Professionals reports that 36.5 million people played pickleball from August 2021 to August 2022, with the fastest-growing demographic being under 24. Life Time plans to expand its pickleball courts, constructing five new permanent courts weekly, aiming for over 1,000 by the end of 2024. Success stories from various players exemplify the sport's appeal across generations and its potential for health benefits, such as weight loss and enhanced social interaction. Ajay Pant, Life Time's VP of Racquet Sports, emphasizes the joy and community spirit fostered by pickleball.
Life Time Group Holdings (NYSE: LTH) reported a 30.2% increase in revenue to $510.9 million for Q1 2023, up from $392.3 million in Q1 2022. Net income turned positive at $27.5 million, recovering from a loss of $38.0 million a year prior. Adjusted EBITDA surged 195.8% to $120.1 million. The company raised its full-year Adjusted EBITDA guidance by $30 million, now projected between $470 million and $490 million. Membership growth was robust, with a net increase of approximately 39,000 members, bringing total memberships to 813,500. Operating cash flow also improved significantly, totaling $74.3 million compared to $9.1 million in the same quarter last year.
Life Time Group Holdings (NYSE: LTH) announced the closure of a $45 million sale-leaseback transaction on
Life Time Group Holdings, Inc. (LTH) will release its financial results for Q1 2023 before the market opens on April 25, 2023. A conference call will be held at 10:00 a.m. ET to discuss these results and provide a business update. Interested parties can join via U.S. dial-in at 1-877-451-6152 or international dial-in at 1-201-389-0879. Additionally, a live audio webcast will be available, with replay access starting at 1:00 p.m. ET the same day until May 9, 2023. Life Time operates over 160 athletic country clubs in the U.S. and Canada, focused on promoting healthy living. The company employs more than 34,000 professionals dedicated to enhancing community wellness.
Life Time (NYSE: LTH) has announced the signing of new and extended long-term leases with RMR Group for two athletic clubs: Harbour Island Athletic Club in Tampa, Florida, and Athletic Club Northeast in Atlanta, Georgia. Both clubs, which closed earlier this year, are set to reopen as Life Time athletic country clubs, offering a full range of health and wellness programs. Life Time aims to enhance its footprint in these markets with this expansion, leveraging over 30 years of experience in developing large-scale athletic destinations. Currently, Life Time operates four locations in Florida and several in Georgia, with plans to open a new venue in Pinecrest, Miami later this summer. Further details regarding membership opportunities and opening timelines will be revealed in due course.
Life Time, a leader in healthy lifestyle services (NYSE: LTH), has opened registration for its summer camps for children aged 5 to 12. Each year, Life Time hosts over 11 million kids, offering engaging activities focused on health and safety. Key features include safety protocols requiring background checks for staff, unique weekly themes, and daily swim lessons. Camps operate from 9 a.m. to 4 p.m. with extended hours for parent convenience. According to the Centers for Disease Control and Prevention, active children show improved academic performance. Life Time aims to help families stay healthy, providing a fun environment for skill development and confidence building.
Life Time (NYSE:LTH) is set to open its luxury living residences in Burlington, Mass., in Summer 2023. The five-story, 167-unit development will complement the existing Life Time Burlington athletic country club, creating a 13-acre healthy lifestyle village. Designed with a range of apartment styles, the development will offer access to extensive health and wellness amenities including pools, courts, and gourmet dining at Life Cafe. Unique Resident Concierge programming will enhance residents' experience with meal prep, personal training, and nutrition coaching. Previous Life Time Living locations opened in Coral Gables and Las Vegas, with another planned for Stamford this summer.
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