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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.
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.
Life Time (NYSE: LTH) has launched its first luxury athletic country club in Brooklyn, known as Life Time Dumbo, covering 77,000 square feet. The facility includes six studio boutiques, a lap pool, basketball court, restaurant, spa, and Kids Academy, promoting a healthy lifestyle for members aged nine months to over 90 years. This expansion enhances Life Time's presence in New York City, following recent openings in other boroughs. With diverse fitness offerings, modern amenities, and a focus on community wellness, Life Time aims to cater to various demographics in a premium environment.
Life Time announced the launch of its first luxury leased residences, Life Time Living, in Green Valley, Henderson, Nevada. This midrise tower features 149 luxury residences designed for a healthy lifestyle, including 105 one-bedroom and 44 two-bedroom units, with prices starting at $2,980. Residents receive a full-access Signature membership to facilities, including a 171,000-square-foot athletic country club. Unique concierge services will support residents' healthy living needs. The development represents a commitment to creating a holistic health-focused community.
Life Time (NYSE: LTH) has officially opened its new athletic country club in Lake Zurich, Illinois, on Sept. 23, 2022. This location spans nearly 148,000 square feet and serves a broad age range from children to seniors. Key features include an indoor aquatic area, pickleball courts, personal training, a beach club, and various wellness amenities. This opening marks the company's 13th site in the Chicagoland area and is part of its commitment to promoting healthy living.
Life Time Foundation has announced over $600,000 in grants to nineteen youth organizations through its Get Kids Moving initiative, aimed at promoting physical activity among children. The organization, aligned with Life Time (NYSE: LTH), works with schools to enhance nutrition and exercise. This funding will positively impact more than 27,000 kids across the nation.
Grants vary, with significant amounts allocated to programs such as the Austin Independent School District ($100,000) and Chicago Public Schools ($68,979.50). The initiative reflects a commitment to combating youth sedentary lifestyles.
Life Time (NYSE: LTH) is set to open its 12th location in the Dallas-Fort Worth metro area at McKinney this fall, expanding its presence in Texas to 29 clubs. The 100,000-square-foot facility will feature amenities such as 12 outdoor pickleball courts, an Olympic-sized pool, and various group fitness classes. The membership includes access to the Kids Academy and LifeSpa services, catering to a wide age demographic. Life Time celebrates over 30 years of operations and plans further growth with a new location scheduled for Missouri City in 2023.
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