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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.
The 2025 Life Time Miami Marathon & Half has achieved another record sellout, closing registration on August 29 with 18,500 runners. This marks the fourth consecutive sellout for the event, scheduled for February 2, 2025. A waitlist will open from September 16 to October 31. The event, now in its 23rd year, attracts participants from 50 states and over 70 countries. The USTAF-certified, Boston-qualifying course showcases Miami's cityscape and waterways. The weekend also includes the Life Time Tropical 5K on February 1 and the Miami Famous Expo from January 31 to February 1. In 2024, the event generated $16.1M in local economic impact and hosted nearly as many international runners (34%) as local Dade County runners (35%).
Life Time, a health and wellness company, is releasing a coffee table book titled 'In This Lifetime' in September 2024. The book, priced at $105, aims to inspire readers to make the most of their lives and serve as an antidote to modern-day disconnection and unhappiness. Jill Palmquist, Life Time's Vice President and Chief Storyteller, describes it as a visual tour de force combining typography, design, photography, and essays.
The book reflects Life Time's mission and the values of its members, focusing on creating healthy, happy lives and fostering human connection. It encourages readers to wake up to the beauty of the present moment and offers guidance on pursuing a fulfilling life. 'In This Lifetime' is presented as a keepsake, guidebook, and meditation on life, emphasizing the importance of caring for body, mind, and soul.
Life Time (NYSE: LTH) has announced plans to open a new athletic country club in Austin, Texas' South Lamar neighborhood by mid-2025. This 57,700-square-foot facility will be part of The Bouldin, a four-acre mixed-use development. The club will occupy the first two floors of a four-story building, featuring:
- Recovery and rejuvenation spaces
- Full bar and social lounge
- Small and large group training programs
- Coworking space
- Co-ed bath house with hot tubs, cold plunges, sauna, and steam rooms
This will be Life Time's fifth location in Austin and 34th in Texas, reflecting the company's continued expansion in response to high demand for its wellness offerings in the area.
Experience Life magazine, published by Life Time (NYSE: LTH), introduces the SPARK formula to help people incorporate more fun into their daily lives. This easy-to-remember acronym, coined by author Catherine Price, stands for:
- Space: Make room for fun physically and mentally
- Pursue: Engage in passions that fulfill you deeply
- Attract: Open yourself to fun possibilities
- Rebel: Step out of your comfort zone
- Keep at It: Prioritize fun consistently
The initiative aims to address stress-related issues affecting many Americans, with 27% reporting being too stressed to function. The SPARK method is featured in the July/August edition of Experience Life magazine, offering readers accessible tools for healthier, happier living.
Life Time (NYSE: LTH) is hosting a national livestream pickleball event featuring tennis icon Andre Agassi on Monday, Aug. 19 at 6:30pm ET. The event, taking place at Life Time PENN 1 in New York City, will be accessible to everyone via the complimentary Life Time digital app. This marks the company's first livestreamed pickleball event, with more planned for the future.
The exhibition play will include top-rated pros and celebrities, all mic'd up for an engaging experience. Life Time Founder, Chairman and CEO Bahram Akradi will debut the new LT – The Ultimate Pickleball, and JOOLA will make a significant announcement. The event highlights Life Time's commitment to expanding digital offerings and promoting racquet sports, including Agassi's role as chair of the Life Time Pickleball and Tennis Board.
Life Time Group Holdings (NYSE: LTH) has priced its public offering of 12,000,000 shares of common stock at $21.75 per share. The offering includes shares from both the company and existing stockholders. Underwriters have a 30-day option to purchase an additional 1,800,000 shares from selling stockholders. The offering is expected to close on August 14, 2024.
Life Time plans to use the net proceeds for general corporate purposes, including potential debt repayment. Morgan Stanley and BofA Securities are lead book-running managers, with several other firms involved in various capacities. The offering is made pursuant to a shelf registration statement filed with the SEC.
Life Time Group Holdings (NYSE: LTH) has announced a public offering of 12,000,000 shares of common stock. The company will offer 6,000,000 shares, while existing stockholders will sell an additional 6,000,000 shares. Underwriters have a 30-day option to purchase up to 1,800,000 extra shares from the selling stockholders. Life Time plans to use the net proceeds for general corporate purposes, including potential debt repayment.
Morgan Stanley and BofA Securities are leading the offering as book-running managers, with Deutsche Bank Securities and Wells Fargo Securities also acting as active book-runners. The offering is subject to market conditions and there's no guarantee of its completion or final terms.
Life Time, a leader in the rapidly growing sport of pickleball, has filed a patent for The Ultimate Pickleball. Designed by Life Time Founder, CEO, and Chairman Bahram Akradi, this new ball aims to address issues of inconsistent speed, bounce, and durability in existing pickleballs. The patent-pending ball will be unveiled on August 19 at Life Time's PENN 1 in New York City, featuring tennis legend Andre Agassi.
The Ultimate Pickleball will debut exclusively in Life Time clubs and be used in all Pickleball Classic tournaments. Later, it will be available for sale at Life Time's racquet sports pro shops and online. Life Time continues to expand its pickleball offerings, with over 700 permanent courts across its locations and partnerships with major leagues like MLP and PPA.
Life Time (NYSE: LTH) has expanded its presence in Texas with the opening of Life Time Westlake on August 3, 2024. This marks the company's 13th location in the Dallas-Fort Worth area and 33rd in Texas. The new 112,000-square-foot, two-story athletic country club offers a wide range of amenities, including:
- Indoor and outdoor pools with a beach club
- Seven pickleball courts
- Expansive workout spaces
- Kids Academy
- LifeCafe restaurant
- LifeSpa for body treatments
The club features state-of-the-art fitness equipment, personal training services, and over 100 group fitness classes. Life Time Westlake is open daily, with extended hours on weekdays. This expansion reflects the growing demand for Life Time's comprehensive health and wellness offerings in the Dallas-Fort Worth metro area.
Life Time Group Holdings, Inc. (NYSE: LTH) has appointed Erik Weaver as Executive Vice President & Chief Financial Officer, effective August 1, 2024. Weaver, who joined the company in 2004, had been serving as Interim CFO since January 1, 2024. His previous roles include Assistant Controller, Vice President and Controller, and Senior Vice President and Controller. Weaver holds an MBA from Hamline University and a B.S. in accounting from St. Cloud State University.
Life Time's Founder, Chairman, and CEO, Bahram Akradi, expressed confidence in Weaver's appointment, citing his two decades of service and recent performance as interim CFO. The decision was unanimously supported by the Board of Directors after a thorough search process.
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