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 prioritizing children's health as a CDC report reveals that kids spend over 6 hours on screens daily. With nearly 160 athletic clubs in the U.S. and Canada, Life Time Kids offers engaging programs for children aged three months and up, focusing on fun, fitness, and education. The Kids Academy provides up to 2.5 hours of healthy activities daily. The initiative includes group classes, sports training, swim lessons, and camps, addressing the increase in sedentary lifestyles and obesity risks among children.
Life Time's 60day challenge has successfully engaged almost 13,000 participants across the U.S. and Canada, promoting healthier lifestyles. Four participants were recognized as national winners, each receiving prizes worth nearly $5,000. The program, which offers daily support, meal planning, and coaching, has contributed to significant personal achievements, including weight loss and improved fitness. Since 2010, almost 580,000 members have collectively lost over 1 million pounds. Life Time continues to support wellness with upcoming challenges and digital offerings.
Life Time (NYSE: LTH) has announced the nationwide rollout of Ultra Fit, its most intense workout program, available at over 150 athletic country clubs. This initiative aims to enhance members' fitness experiences by offering unlimited access to Ultra Fit, alongside existing programs like GTX and Alpha. More than 22,000 live classes are conducted weekly, emphasizing a community-driven approach to fitness. The Signature Membership provides additional benefits, including priority reservations for various classes and events, catering to health-conscious consumers seeking structured workouts.
Life Time (NYSE: LTH) is expanding its pickleball court presence, now offering more permanent courts than any other company in the U.S. Following pickleball's recognition as America's fastest-growing sport, with nearly 5 million players, Life Time aims to have around 400 courts by year-end. The company is capitalizing on the sport's surging popularity, reporting a nearly 40% participation growth rate in the last two years. Life Time's strategic focus on pickleball enhances its positioning as the premier destination for health and wellness offerings.
Life Time (NYSE: LTH) has announced the Ride of a Life Time, set for April 30, aimed at raising $1 million for Children's Miracle Network Hospitals and the Life Time Foundation. With over 10,000 riders expected, participants can either ride at Life Time locations or virtually. The event follows the inaugural ride that raised over $640,000. All funds will support children's hospitals and nutrition programs in schools.
Life Time Group Holdings, Inc. (NYSE: LTH) reported strong financial results for Q4 and the full year 2021, reflecting a significant recovery from the pandemic. Total revenue surged by 57.8% to $360.5 million in Q4 and 39.0% to $1.318 billion for the year. Memberships rose 29.6% to 649,373, while adjusted EBITDA improved to $48.0 million in Q4 and $80.3 million for the year. Despite a net loss of $(304.8) million in Q4, the company plans to open 12 new centers in 2022 and anticipates revenue between $385-$395 million for Q1 2022.
Life Time Group Holdings, Inc. (NYSE: LTH) is set to announce its fourth quarter and full-year fiscal 2021 financial results on March 10, 2022, before the market opens. A conference call will follow at 8:30 a.m. ET to discuss the results. Interested investors can join by dialing 877-451-6152 or via a live audio webcast available on the company's investor relations website. Life Time, with over 150 athletic resort destinations across the US and Canada, focuses on promoting healthy living through various programs and digital offerings.
Life Time has announced the grand opening of its first pickleball-only destination at Bloomington North on February 20, 2022. This venue, boasting five international competitive level courts and a dedicated viewing area, is part of Life Time's strategy to become the largest indoor pickleball provider in North America. Following a multi-million dollar renovation, the facility will also offer a bar and lounge for social gatherings. Life Time aims to host 400 dedicated pickleball courts nationwide in two years, enhancing its pickleball programming at over 120 locations.
Life Time has launched its tenth athletic resort in the Dallas/Fort Worth area on February 11, 2022. The new location, Life Time Frisco, spans 124,000 square feet and employs 220 staff members. It offers a wide range of health and wellness services, including group fitness classes, personal training, and outdoor sports facilities. The resort aims to cater to diverse age groups, promoting healthy living and aging. The opening aligns with Life Time's commitment to enhance community health and wellness.
Life Time Group Holdings, Inc. (NYSE: LTH) announced a non-binding letter of intent for a sale-leaseback of four properties totaling $175 million with a previous institutional investor. The first two properties are expected to close by March 31, 2022, generating about $80 million in gross proceeds, while the second set is anticipated to complete by September 30, 2022, for $95 million. CEO Bahram Akradi highlighted that these transactions will bolster the company’s balance sheet and enable further growth opportunities.
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