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 Group Holdings, Inc. (NYSE: LTH) has announced the completion of two sale-leaseback transactions for two properties, generating approximately $65 million in gross proceeds. These transactions bring the company's total gross proceeds from sale-leasebacks to about $213 million year-to-date. Erik Weaver, Executive Vice President and CFO, stated that these transactions will support future growth opportunities and strengthen the company's balance sheet.
Life Time has achieved its initial net leverage milestone of 3.0 times at the end of the second quarter, six months ahead of schedule. The company is now committed to reducing net leverage to less than 2.5 times. Life Time operates more than 175 athletic country clubs across the United States and Canada, serving people from 90 days to 90+ years old with a team of over 42,000 dedicated professionals.
Life Time Group Holdings, Inc. (NYSE: LTH) has announced the successful refinancing of its revolving credit facility through its wholly-owned subsidiary, Life Time, Inc. The amended facility includes several key improvements:
- Increased commitments from $475 million to $650 million
- Reduced floating interest rate by 100 basis points to Term SOFR plus 2.50% margin
- Lowered undrawn commitment fee rate to 25 basis points
- Extended maturity to September 2029
The company also paid off the remaining $200 million of its term loan facility. CFO Erik Weaver expressed satisfaction with this first step in refinancing long-term debt and anticipates addressing outstanding secured and unsecured notes in the coming months.
Life Time (NYSE: LTH) is hosting a free livestreamed panel on GLP-1 peptides on September 25, 2024, from 6:00-7:30 p.m. CT via the Life Time App. The event features insights from Chief Science Officer James LaValle, Dr. Gregory Pippert, and Cliff Edberg.
Topics include:
- GLP-1s and their function
- Suitable candidates for these medications
- Optimizing results and reducing side effects
- Importance of strength training and diet with GLP-1s
This event is part of Life Time's commitment to providing evidence-based guidance for health journeys. It's the first of several planned livestreams on longevity, performance, and anti-aging. Life Time MIORA offers personalized care plans, including GLP-1s when appropriate, based on comprehensive wellness assessments.
Life Time (NYSE: LTH) has announced the launch of its new '30 Strong Challenge', a complimentary 30-day program starting October 2. The challenge, designed by Life Time's experts, aims to help participants build sustainable healthy habits through daily nutrition and exercise goals. Key habits include:
- Daily programmed workouts
- 30 additional minutes of movement
- 30 grams of protein per meal
- Daily hydration goals
- Eliminating alcohol
- 7+ hours of sleep per night
The program is available at Life Time's 170+ athletic country clubs and through its digital app. Participants can access complimentary training sessions, virtual coaching, and are eligible for weekly and grand prizes from brand partners.
Life Time (NYSE: LTH) has announced the nationwide launch of Life Time x Augie's Quest GO90, a fundraiser workout event scheduled for September 28, 2024. The event aims to benefit Augie's Quest to Cure ALS and the Life Time Foundation, focusing on ALS research, patient care, youth nutrition, movement, and conservation efforts.
GO90 will feature 90-minute workout classes across Life Time's athletic country clubs, with a $25 donation required for participation. The event's duration symbolizes that someone is diagnosed with ALS every 90 minutes. 100% of funds raised will be equally split between the two organizations. Non-members can also participate by registering at a convenient Life Time location.
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.
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