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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) announces an $800,000 investment to enhance its racquet sports offerings at Life Time City Centre in Houston. The renovation introduces a new state-of-the-art squash complex featuring five additional courts, including an all-glass court with stadium seating, bringing the total to nine courts. The facility will host the U.S. Squash Junior Championship Tournament in February, expecting about 300 junior players. Life Time currently provides squash programming at 26 clubs, with plans to expand to over 40 clubs.
Life Time (NYSE: LTH) has opened its latest location, Life Time Midtown, a 28,000-square-foot athletic country club in New York City, marking its seventh facility in the city and fifth in Manhattan. This expansion enhances Life Time's footprint in a key market, offering over 100 weekly classes led by certified instructors across various fitness disciplines. Notable features include dedicated studios for group training, a three-lane indoor lap pool, and luxurious amenities. The facility aims to support members on their wellness journeys, with convenient access to public transport.
Life Time (NYSE: LTH) announced the launch of "Call of a Life Time," a six-episode docuseries premiering on January 27, 2023, at 6 p.m. CST. The series highlights elite cyclists participating in the inaugural Life Time Grand Prix, featuring three gravel and three mountain biking events held across the U.S. The finale reveals a $250,000 prize purse. Filmed by Cold Collaborative, the series aims to capture the personal journeys, challenges, and achievements of the athletes during the 2022 race season. The episodes will be available for free on the Life Time Grand Prix YouTube channel, fostering fandom around U.S. cycling.
The Life Time Miami Marathon and Half is set to return on January 29, 2023, attracting a sold-out crowd of 18,000 runners from across 50 states and nearly 70 countries. This year marks the earliest sell-out in the event's 21-year history, driven by a USTAF-certified, Boston-qualifying course that highlights Miami's unique scenery. New features include the Life Time Diaper Derby, a non-binary awards category, and eco-friendly initiatives like a special train to reduce emissions. The marathon is part of a range of athletic events owned by Life Time, which operates over 160 athletic clubs in North America.
Life Time (NYSE: LTH) is set to open a new athletic club at Brooklyn Crossing in Prospect Heights, Brooklyn, in 2024. This partnership with The Brodsky Organization and Greenland USA will provide over 37,000 square feet of fitness and wellness space, including boutique studios and advanced fitness equipment. The development features 858 residential apartments with luxury amenities. The collaboration emphasizes Life Time's commitment to healthy living and aligns with Brodsky's goal of enhancing lifestyle offerings for residents, positioning Brooklyn Crossing as a vibrant community hub.
Life Time Group Holdings, Inc. (NYSE: LTH) reported preliminary unaudited financial results for Q4 and full-year fiscal 2022. Q4 revenue reached $472 million, reflecting a 31% increase from the prior year, driven by growth in membership dues and in-center revenues. Net income was $10 million, a notable improvement from a loss of $305 million in the previous year. For fiscal 2023, the company forecasts revenue of $2.2 billion to $2.3 billion and Adjusted EBITDA of $430 million to $450 million, indicating growth of approximately 23% and 57%. Further details will be provided in March 2023.
Life Time (NYSE:LTH) is set to debut its first athletic club and luxury residences in downtown Stamford, CT, in mid-2023. The facility will include a 52,000-square-foot athletic club, a 10,000-square-foot rooftop beach resort, and 290 high-end residences. Residents will enjoy a full-access Signature membership and wellness programming. Additionally, the development offers convenient access to public transport and aims to foster a healthy lifestyle in the community. This opening highlights Life Time's commitment to expanding its healthy living initiatives across North America.
Life Time (NYSE: LTH) announced the expansion of its Sky location in New York City to include indoor pickleball courts and a dedicated Alpha training area. The new facilities will offer two pickleball courts for various activities and advanced strength conditioning programs. Construction has commenced, with an expected completion by early February 2023. Life Time currently operates over 400 pickleball courts across North America, aiming to exceed 600 by year-end. This strategic expansion reinforces Life Time's leading position in the luxury athletic market.
Life Time Group Holdings, Inc. (NYSE: LTH) will announce preliminary unaudited financial results for Q4 and full year 2022, along with guidance for 2023, on January 9, 2023, prior to the market opening. This disclosure precedes the company's participation in the ICR Conference on the same day. CEO Bahram Akradi and CFO Bob Houghton will engage in a fireside chat at 4:30 PM ET. The chat will be webcast and available for replay on the investor relations website for 90 days.
On January 2, 2023, Life Time (NYSE: LTH) unveiled key wellness trends for the year ahead, emphasizing a holistic approach to health. Key trends include a rising interest in muscle building, a resurgence of cardio classes, and prioritization of mental health through fitness. Nutrition trends highlight a shift towards anti-inflammatory diets and time-restricted eating. Additionally, individualized health monitoring and a transition from body positivity to body neutrality were noted. Life Time continues to support healthy living through its extensive network of athletic clubs across North America.
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