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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) has inaugurated its 11th club in the Dallas area, known as Life Time McKinney at Craig Ranch, covering over 100,000 square feet. This multi-million-dollar renovated facility features 12 outdoor pickleball courts, a unique 50-meter outdoor pool, and various fitness and wellness amenities including specialized studios and a kids' academy. The club emphasizes a holistic approach to healthy living and is strategically located near the PGA TPC Craig Ranch Golf Course, enhancing its appeal to local residents.
Life Time (NYSE: LTH) has announced the winners of its 60day Challenge, with nearly 20,000 participants entering the holiday season healthier. Five national winners received prizes totaling $6,000, showcasing significant individual transformations, including weight loss and improved health metrics. The 60day program, which has helped 600,000 members lose over 1 million pounds since 2010, offers daily workouts, meal plans, and coaching support. The next challenge starts on January 28, with registration opening on December 16.
Life Time (NYSE: LTH) is offering complimentary access to its Digital Membership from Dec. 1, 2022, through January, aiming to prioritize health during the holiday season. This membership provides access to thousands of live-stream and on-demand workout classes, meditation sessions, and curated health content. Life Time, with nearly 160 athletic clubs in the U.S. and Canada, emphasizes its commitment to wellness, ensuring that individuals can maintain a healthy lifestyle regardless of location. The initiative reflects Life Time's mission to enhance community health and happiness.
Life Time Group Holdings (NYSE: LTH) will participate in a fireside chat at the 2022 Morgan Stanley Global Consumer & Retail Conference on December 6, 2022, at 4:00 pm ET. The discussion will feature Founder and CEO Bahram Akradi along with CFO Bob Houghton. This event will be webcast, and related materials can be accessed on the Company’s Investor Relations website for 90 days. Life Time has over 150 locations in the US and Canada, focusing on holistic health and wellness.
Life Time (NYSE: LTH) has unveiled its new athletic club in Annapolis Town Center, expanding its luxury offerings in health and wellness. Spread across 43,000 square feet, the club features dedicated studios for yoga and Pilates, a luxury lap pool, and specialized programming for various age groups. The establishment aims to provide a comprehensive fitness experience, with amenities including group training classes, kids programming, and relaxation areas such as saunas and steam rooms. Operating hours are from 5 a.m. to 10 p.m. on weekdays and 6 a.m. to 8 p.m. on weekends.
UnitedHealthcare, part of UnitedHealth Group (NYSE: UNH), has expanded its relationship with Life Time (NYSE: LTH) to provide access to all Life Time locations for Medicare members enrolled in the Renew Active® program. This initiative allows over 10 million members to use nearly 160 Life Time athletic clubs across 29 states at no extra cost. The program emphasizes physical and mental well-being, offering free gym memberships, on-demand workouts, and the ARORA program for older adults. This collaboration aims to enhance health and wellness among seniors.
Life Time Group Holdings, Inc. (NYSE: LTH) reported a 28.9% revenue increase to $496.4 million for Q3 2022, compared to $385.0 million last year. Memberships rose 9.0% to 728,729. Adjusted EBITDA jumped 50.9% to $71.0 million. However, the company recorded a net income of $24.7 million, influenced by a tax-effected gain of $42.7 million from sale-leasebacks. The outlook for Q4 estimates revenue between $460 to $490 million, with a projected net loss of $(10) to $(2) million.
Life Time (NYSE: LTH) has formed a strategic alliance with Major League Pickleball (MLP) and DUPR to enhance the sport of pickleball. This partnership aims to host multiple tournaments at Life Time locations in 2023 and implement the DUPR official rating system across all Life Time clubs. With nearly five million pickleball players in the U.S., MLP plans to expand to 16 teams and increase prize money to over $2M. Life Time, owning the most pickleball courts in the U.S., is committed to making the sport more accessible and enjoyable for all.
Life Time Group Holdings, Inc. (NYSE: LTH) will release its third-quarter financial results for fiscal 2022 on November 9, 2022, before market open. A conference call to discuss these results is scheduled for 8:30 a.m. Eastern Time. Interested investors can participate by dialing 877-451-6152 or joining the live audio webcast at ir.lifetime.life.
Life Time operates nearly 160 athletic country clubs across the United States and Canada, focusing on healthy living and comprehensive wellness.
Life Time (NYSE: LTH) reports significant growth in pickleball participation, boasting over 350 permanent courts with plans to exceed 600 by year-end 2023. The surge in popularity reflects a doubling of U.S. players to nearly 5 million in five years. Monthly participation at Life Time clubs soared from 16,000 to over 70,000 in nine months. CEO Bahram Akradi envisions Life Time not only as the largest provider but also the best in pickleball services, including classes and tournaments, further solidifying the company's status as a leader in healthy lifestyle offerings.
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