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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, Inc. (NYSE: LTH) announced the completion of a sale-leaseback of five properties for $200 million on September 9, 2022. This brings the total gross proceeds from year-to-date transactions to $375 million. The proceeds will be allocated to pay down debt and strengthen the company's balance sheet. The company is also considering further monetizing up to $300 million in real estate by year-end, potentially increasing total proceeds for 2022 to $675 million.
Life Time is launching its fall version of the 60day Challenge across its nearly 160 athletic country clubs in the U.S. and Canada, starting September 10, with registration open until September 17. Since its inception in 2010, participants have lost over one million pounds. The challenge offers daily support, consultations with personal trainers, meal plans, and weekly challenges. Winners, announced on November 30, will receive various prizes, including a vacation and personal training sessions. Life Time also introduces a complimentary, two-week D.TOX program beginning September 19.
Life Time (NYSE: LTH) has expanded its footprint in New York City with the opening of Life Time One Wall Street on September 8, 2022. This new 74,000-square-foot athletic club features amenities for all ages and is the first in NYC to offer Life Time Kids Academy. The club aims to enhance the health and wellness landscape, bringing Life Time's total locations to over 160 across the U.S. and Canada. Life Time plans further expansion with additional clubs in Dumbo and Midtown by the end of 2022.
Life Time Group Holdings announced the retirement of President and CFO Thomas Bergmann, effective December 31, 2022. Robert Houghton will assume the role of Executive Vice President and CFO starting August 28, 2022. Bergmann, who has been with the company since February 2016, played a pivotal role in Life Time’s financial growth and operational strategies, including successful equity and debt transactions. Houghton brings extensive experience from his previous roles at United Natural Foods and C.H. Robinson, enhancing the company's financial leadership.
Life Time, a leading healthy lifestyle brand, highlights the importance of Healthy Aging Month by offering seven tips to improve health and happiness for older adults. Key suggestions include expanding social circles, engaging in pickleball, dancing, and finding suitable fitness coaching. These recommendations aim to foster a sense of community and enhance well-being among seniors. Life Time's ARORA program promotes various activities tailored for older adults, ensuring they remain active and connected. The company operates nearly 160 athletic clubs across the U.S. and Canada, supporting healthy living from ages 90 days to 90+ years.
Life Time (NYSE: LTH) has opened a new 136,000-square-foot athletic country club in Downtown Palm Beach Gardens, expanding its presence in South Florida. The facility will create nearly 200 jobs and offers a range of amenities including group classes, personal training, a rooftop beach club, and wellness services. The opening marks Life Time's fourth location in South Florida and is part of a broader redevelopment initiative aimed at enhancing the community and promoting healthy living.
Life Time Group Holdings (NYSE: LTH) reported strong second quarter financial results, with total revenue rising 42.7% to $461.3 million compared to the same period last year. The company saw a 10.2% increase in center memberships, totaling 724,778. Adjusted EBITDA surged to $63.1 million from $4.2 million in the prior year. Despite a net loss of $2.3 million, the company remains optimistic about ongoing growth and plans for 12 more center openings in 2022. Additionally, significant sale-leaseback transactions totaling $675 million are projected to strengthen the balance sheet.
Life Time Group Holdings, Inc. (NYSE: LTH) will release its second quarter financial results for fiscal 2022 on August 10, 2022, prior to market open. A conference call is scheduled for 8:30 a.m. Eastern Time to discuss these results. Investors can participate by calling in or accessing a live audio webcast at https://ir.lifetime.life. Life Time operates nearly 160 athletic country clubs in the U.S. and Canada, emphasizing healthy living for individuals at all ages.
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