Life Time Group Holdings, Inc. (LTH) reports developments tied to its healthy lifestyle and leisure business, including athletic country club openings, membership-driven operating results, and wellness services across the United States and Canada. Company updates commonly cover resort-style clubs, fitness and training programs, pickleball and tennis amenities, LifeSpa, LifeCafe, LifeClinic, Life Time Work, digital health offerings, and related residential or mixed-use club environments.
News also covers Life Time's capital actions and real estate strategy, including sale-leaseback transactions and share repurchases, as well as expansion of its athletic events portfolio. Recurring product and event themes include endurance races, local running communities, the LT Pro 48 pickleball, and foundation initiatives tied to health, community, and environmental programs.
Life Time (NYSE: LTH) has announced the nationwide rollout of Ultra Fit, its most intense workout program, available at over 150 athletic country clubs. This initiative aims to enhance members' fitness experiences by offering unlimited access to Ultra Fit, alongside existing programs like GTX and Alpha. More than 22,000 live classes are conducted weekly, emphasizing a community-driven approach to fitness. The Signature Membership provides additional benefits, including priority reservations for various classes and events, catering to health-conscious consumers seeking structured workouts.
Life Time (NYSE: LTH) is expanding its pickleball court presence, now offering more permanent courts than any other company in the U.S. Following pickleball's recognition as America's fastest-growing sport, with nearly 5 million players, Life Time aims to have around 400 courts by year-end. The company is capitalizing on the sport's surging popularity, reporting a nearly 40% participation growth rate in the last two years. Life Time's strategic focus on pickleball enhances its positioning as the premier destination for health and wellness offerings.
Life Time (NYSE: LTH) has announced the Ride of a Life Time, set for April 30, aimed at raising $1 million for Children's Miracle Network Hospitals and the Life Time Foundation. With over 10,000 riders expected, participants can either ride at Life Time locations or virtually. The event follows the inaugural ride that raised over $640,000. All funds will support children's hospitals and nutrition programs in schools.
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.