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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 (NYSE: LTH) has announced the launch of the Life Time Grand Prix, a new cycling series featuring six events and a total prize purse of $250,000. Set to start in 2022, the series promotes both men's and women's competitions, with equal prize distribution. Events include significant races like the Leadville Trail 100 MTB and Big Sugar Gravel. The application period for riders is open from Nov. 22 to Dec. 6, with notifications by Dec. 10. Life Time aims to revitalize interest in cycling through this initiative.
Life Time Group Holdings is launching a unique healthy lifestyle destination, Life Time River North at One Chicago, set to open in early 2022 in Chicago. The facility boasts over 126,000 square feet of luxurious amenities including an athletic resort with extensive fitness equipment, boutique studios, and wellness services.
Additionally, it will feature Life Time Work, its first premium coworking space in the city, focusing on a healthy work-life balance. Memberships for the athletic resort start at $229 per month, while coworking memberships begin at $579.
The Life Time Foundation, alongside the Center for Science in Public Interest and numerous school nutrition experts, has released an updated Ingredient Guide aimed at enhancing school food purchasing practices. This guide is designed to help schools provide healthier meals, building on previous collaboration efforts. Currently, the Foundation supports over 35 school districts, impacting 1.7 million students and 264 million meals annually. The guide includes lists of ingredients to avoid and aims to serve as a vital resource for improving food quality in schools, with regular updates based on new research.
Macerich (MAC) and Life Time (LTH) announced plans for a new luxury athletic resort at Scottsdale Fashion Square, Arizona, set to open in 2023. This 40,000-square-foot facility will be Life Time's seventh location in Arizona and aims to enhance the shopping center's luxury offerings. The resort will feature group fitness studios, a rooftop beach club, and high-end amenities. This collaboration is part of Macerich's strategy to diversify its properties and enhance customer experiences in its premium retail locations.
Life Time Group Holdings, Inc. (NYSE: LTH) reported a strong Q3 2021 with a 66.7% revenue increase to $385 million compared to the previous year. Memberships rose 16.7% to 668,310, while net loss improved to $(45.4) million. Adjusted EBITDA reached $47 million, a significant turnaround from $(12.4 million). For FY 2021, revenue is projected between $1.308 - $1.318 billion. Life Time aims to open 10 or more new centers annually. The company raised approximately $670 million from its IPO and paid down significant debt.
Life Time Group Holdings, Inc. (NYSE: LTH) will announce its third-quarter financial results for fiscal 2021 on October 28, 2021, after market close. A conference call is scheduled for 4:30 p.m. ET, featuring CEO Bahram Akradi and CFO Tom Bergmann, who will discuss the results. Investors can join the call by dialing 877-451-6152 or via an online webcast at ir.lifetime.life. A replay will be available within three hours after the call.
Life Time Group Holdings, Inc. (NYSE: LTH) has successfully closed its initial public offering (IPO) of 39 million shares at $18.00 each, generating gross proceeds of $702 million. The public trading of Life Time's stock commenced on October 7, 2021. Additionally, underwriters have a 30-day option to acquire up to 5.85 million shares at the IPO price. The offering was led by Goldman Sachs, Morgan Stanley, and BofA Securities, among others. The registration for this offering was declared effective on October 6, 2021, by the Securities and Exchange Commission.
Life Time Group Holdings has priced its initial public offering (IPO) at $18.00 per share, offering 39,000,000 shares. Trading will commence on the New York Stock Exchange under the symbol LTH starting October 7, 2021, with the offering expected to close by October 12, 2021, pending customary conditions. An additional 5,850,000 shares can be purchased by underwriters within 30 days. The SEC approved the registration statement effective on October 6, 2021.
Life Time Group Holdings has filed a registration statement on Form S-1 with the SEC for a proposed initial public offering (IPO) of its common stock. The IPO's size and terms are not yet finalized, and there is no assurance on its completion timeline. The company aims to list its stock on the New York Stock Exchange under the ticker symbol LTH. Leading financial institutions including Goldman Sachs, Morgan Stanley, and BofA Securities act as joint lead managers for the offering. The preliminary prospectus will be available through designated financial institutions.
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