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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 (NYSE: LTH) has announced webcast information for its Investor and Analyst Day on May 30, 2024. The event, to be held at the company's corporate office in Chanhassen, Minnesota, will cover the company's evolution into a leading healthy way of life leisure company. The webcast will start at 9:30 a.m. ET and will include presentations by the leadership team followed by a Q&A session. Institutional investors interested in attending in person should contact Ken Cooper. Materials and a replay of the webcast will be available on the company's investor relations website.
The Life Time Foundation has granted $1 million to American Forests to restore the threatened whitebark pine in the western U.S.
This high-elevation keystone species is vital for ecosystem stability but faces large-scale die-off due to disease, pests, and climate change. The funding will support restoration projects across seven western states and two Canadian provinces, including national parks like Yellowstone, Glacier, and Grand Teton.
Efforts will include planting seeds, testing disease resistance, supporting nurseries, and sequencing the whitebark pine genome. This initiative aims to protect alpine biodiversity, ensure clean water supply, and promote outdoor recreation.
Life Time (NYSE: LTH) has announced that its Life Time app is now free for everyone. The app offers a comprehensive range of health, fitness, nutrition, and wellness resources, including classes taught by top instructors and award-winning content. This move aligns with Life Time's mission to promote healthy living, supported by its extensive network of over 170 athletic country clubs across 31 states and 43 major markets, including Toronto. Features include a variety of classes, coaching programs, meditation experiences, and access to health and wellness products. The app is available for download on Apple and Google App Stores.
Tennis Grand Slam Champion Andre Agassi, along with top-rated pickleball pros, participated in an exciting pickleball event at Life Time PENN 1 in New York City. The event showcased the rapid growth of pickleball, with more than 300 guests enjoying the action. Life Time has been actively promoting racquet sports, appointing Agassi as the chair of the Life Time Pickleball and Tennis Board, and expanding access to the sport through partnerships and programming.
Life Time (NYSE: LTH) and lululemon (NASDAQ: LULU) have announced a new partnership naming lululemon as an official apparel partner of Life Time pickleball and tennis. The collaboration aims to elevate racquet sports with lululemon's athletic apparel at Life Time facilities across the country. The partnership was launched on May 4th at a major pickleball event at Life Time PENN 1, featuring seven street-level pickleball courts. Both brands strive to promote healthy lifestyles and community wellbeing through this collaboration.
Life Time Group Holdings, Inc. announced its strong financial results for the first quarter of 2024. Revenue increased by 16.8% to $596.7 million, center memberships grew by 5.0%, and adjusted EBITDA rose by 21.6%. The company's net debt leverage ratio improved to 3.6x. They are raising their full-year revenue and Adjusted EBITDA guidance. Life Time remains on track to achieve their 2024 financial goals including being free cash flow positive in the second quarter.
Life Time has appointed James LaValle as Chief Science Officer to lead scientific strategies and initiatives for the MIORA longevity and performance program and clinic. LaValle brings over 38 years of experience in metabolic health issues, anti-aging research, and proactive patient care management. He will work on establishing relationships, advancing longevity research, and building partnerships with leading organizations in the field. MIORA offers personalized services for health, wellness, performance, and longevity, including hormone replacement therapies, recovery services, aesthetics, and peptides for weight management.
Life Time (NYSE: LTH) expands its presence in Texas with the opening of two new athletic country clubs in Dallas-Fort Worth. The first club, Life Time Las Colinas, features a wide range of amenities for all ages, including pools, pickleball courts, Kids Academy, LifeCafe, LifeSpa, and more. The second club, Life Time Westlake, is set to open later this summer with a waitlist available. The expansion reflects the strong demand for Life Time's healthy lifestyle programming in the region.
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