Welcome to our dedicated page for Life Time Group Holdings news (Ticker: LTH), a resource for investors and traders seeking the latest updates and insights on Life Time Group Holdings stock.
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 set to host the Select Medical Orange County Cup pickleball tournament from June 9-12, 2022, at its Rancho San Clemente location. The event will feature over 4,000 spectators and a prize pool of $133,000. Competitors include top professionals from countries like Canada, Mexico, and Russia, alongside high-profile teams. Life Time aims to expand its pickleball presence, planning to establish over 300 permanent courts by year-end. With nearly 5 million Americans playing pickleball, this tournament is part of Life Time's strategy to capitalize on the sport's growing popularity.
Life Time (NYSE: LTH) is gearing up for a busy summer at its 300+ pools nationwide, sharing essential swim safety tips. With over 30,000 people learning to swim monthly, the company emphasizes early swim lessons for children to build confidence. Key safety tips include the 25:10 rule for supervision, maintaining a guardian-to-non-swimmer ratio, and ensuring the use of Coast Guard-approved flotation devices. Life Time aims to foster a safe and enjoyable aquatic environment for families, encouraging participation in its diverse summer programs.
Life Time Group Holdings, operating under the ticker LTH, announced its participation in the 2022 RBC Capital Markets Global Consumer & Retail Conference on June 1, 2022, at 2:40pm EDT. The event will feature a webcast accessible through the Company's Investor Relations website, remaining available for around 90 days post-event. Life Time operates nearly 160 athletic country clubs across the U.S. and Canada, focusing on promoting healthy lifestyles and providing top-tier programs and experiences for all ages.
On May 20, 2022, Life Time announced that its second annual Ride of a Life Time charity cycling event raised over $1 million across 40+ metro markets, with more than 8,000 participants. Since its inception in 2021, the event has accumulated $1.6 million for Children's Miracle Network Hospitals and the Life Time Foundation. The funds support health initiatives for children and promote nourishing meals in schools. Donations remain open through May at www.rideofalifetime.life.
Life Time is set to host the 20th edition of the Verizon New York City Triathlon on July 24, 2022, welcoming athletes from around the world. Following cancellations in 2019 and 2020 due to a heat wave and COVID-19, the event is expected to attract over 2,200 participants. For the first time, a duathlon option has been introduced, allowing competitors to skip the swim. Life Time continues its expansion in NYC with plans to open four new athletic country clubs, enhancing its commitment to promoting a healthy lifestyle.
Life Time Group Holdings (NYSE: LTH) has successfully completed sale-leaseback transactions for four properties, generating $175 million. The initial two properties raised approximately $80 million by March 31, 2022, followed by an additional $95 million from the next two properties, finalized on May 13, 2022. The funds will be allocated to enhance the company's balance sheet and explore growth opportunities. Additionally, Life Time is considering monetizing up to $500 million in real estate by September 30, 2022.
Life Time Group Holdings (NYSE: LTH) will open a luxury athletic club and premium coworking space at The Brooklyn Tower, covering over 100,000 square feet. Expected to launch in 2023, this expansion emphasizes Life Time's commitment to promoting wellness in New York City. Designed to cater to a community-focused environment, it will include multiple fitness studios, a LifeCafe, recovery services, and Life Time Work coworking spaces. The project represents a strategic collaboration with JDS Development Group, reinforcing Life Time's growing presence in Brooklyn's booming market.
Life Time Group Holdings, Inc. (NYSE: LTH) reported a strong fiscal first quarter ending March 31, 2022, with total revenue soaring by 57.3% to $392.3 million, driven by a 50.3% increase in comparable center sales. Membership rose by 23.8%, totaling 673,983. Despite a net loss of $38.0 million, adjusted EBITDA improved significantly to $40.6 million. The company plans to enhance its portfolio by opening 12 new centers this year and evaluating opportunities to monetize up to $500 million in owned real estate.
Life Time (NYSE: LTH) announced the addition of dozens of new guided meditation programs to its digital membership, launching five new sessions weekly for the remainder of 2022. This initiative responds to growing demand for meditation, which now has around 1 in 6 adults in the U.S. participating. The meditations primarily focus on better sleep and stress relief, the most requested categories. Studies indicate that just 10 minutes of daily meditation can enhance mood and reduce stress. Life Time's holistic approach integrates meditation with its fitness and wellness offerings.
Life Time Group Holdings, Inc. (NYSE: LTH) will announce its financial results for Q1 2022 on May 11, 2022, before market open. A conference call is scheduled for 8:30 a.m. ET to discuss these results, with participation details provided for analysts and investors. Life Time operates nearly 160 athletic clubs in the U.S. and Canada, aiming to promote healthy living across various age groups with over 30,000 professionals in its workforce.
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