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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) 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.
Life Time (NYSE: LTH) has opened its new 24/7 flagship destination, Life Time River North, in downtown Chicago. The state-of-the-art facility spans 126,000 square feet and features diverse amenities promoting healthy living for all ages. Key highlights include specialized fitness classes, personal training, an indoor lap pool, and a Kids Academy. Memberships start at $249 monthly for adults, with a one-day membership option now available. The company plans to expand further in urban markets, including upcoming locations in New York City and Atlanta.
Life Time (NYSE: LTH) has expanded its Kids' programming by introducing two new classes: Ringside, a boxing-inspired class, and Warrior Sculpt, which combines yoga with high-intensity interval training. Designed for children aged 5 to 13, these classes aim to promote fitness and health among kids. This initiative builds on the success of previous kids' classes and emphasizes the importance of regular exercise for youth. Life Time serves hundreds of thousands of children across its athletic resorts and digital platforms, providing various health-focused programs.
On January 17, 2022, Life Time (NYSE: LTH) shared strategies on National Ditch Your Resolutions Day to help individuals maintain their New Year wellness goals. Key suggestions include:
- Trim your Goals: Focus on one specific habit at a time.
- Create a Plan: Detail your goals and track progress.
- Find a Workout Buddy: Engage with groups or partners for accountability.
- Daily Reminders: Keep your goal visible to stay motivated.
- Visualize Success: Picture achieving your goals to maintain motivation.
A survey revealed that top resolutions include losing weight (31%) and building muscle (22%).
Life Time (NYSE: LTH) has launched ARORA, a new program aimed at promoting health and activity among baby boomers aged 55 to 75 years. The initiative offers a variety of classes, social activities, and educational workshops designed to enhance physical, mental, and emotional well-being. ARORA includes low-impact workouts, sports like pickleball, and community-oriented events. Most activities are included in Life Time memberships, and many locations accept Medicare fitness benefits. This launch aligns with Life Time's mission to improve health for all generations.
Life Time (NYSE: LTH) has unveiled its 2022 lineup of athletic events, featuring over 40 endurance competitions including marathons, triathlons, and cycling races across 11 states. The events cater to passionate athletes, with some highlights being the 20th anniversary of the Miami Marathon and the launch of the Life Time Grand Prix Race Series offering a $250,000 prize purse. Events are designed to promote a healthy lifestyle and involve community engagement through the Life Time Foundation’s charity slot program.
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