Profile: Life Time Fitness Inc (LTM)
9 Dec 2013
Life Time Fitness, Inc., incorporated on October 15, 1990, operates multi-use sports and athletic, professional fitness, family recreation and spa centers in a resort-like environment. As of February 28, 2013, the Company operated 105 centers under the LIFE TIME FITNESS and LIFE TIME ATHLETIC SM brands primarily in suburban locations in 28 major markets in the United States and Canada. The Company’s model centers target 7,500 to 11,000 memberships by offering, on average, 114,000 square feet of multi-use sports and athletic, professional fitness, family recreation, spa amenities and programs and services in a resort-like environment. Life Time programs include a range of interest areas, such as group fitness, yoga, swimming, running, racquetball, squash, tennis, Pilates, martial arts, kids activities and camps, adult activities and leagues, rock climbing, cycling, basketball, personal training, weight loss and nutrition initiatives, spa, medi-spa and chiropractic services. Life Time program offerings may vary by location. Effective August 28, 2012, MGC Diagnostics Corporation sold the assets of its New Leaf business to the Company.
The Company's offerings also include the Company's line of nutritional products and supplements, and its magazine, Experience Life. The Company also has an Athletic Events division, which offers more than 100 events each year, including running, cycling and triathlon events from entry-level to ultra-endurance. Additionally, the Company offers a portfolio of health assessments to its members at its centers, as well as employees at corporate clients, along with partnerships with health insurance companies. The Company offers different types of membership plans for individuals, couples and families. The Company's memberships include the primary member's children under the age of 12 at a modest per child monthly cost. The Company provides the majority of its members with a variety of services with their membership, including group fitness classes and fitness assessments, towel and locker service and an online subscription to its magazine, Experience Life. The Company's membership plans include initial 14-day money back guarantees and are month-to-month, cancelable by giving up to 60 days advance notice. The Company's ancillary businesses include media, athletic events and related services, health promotion programs and training and certification programs.
The Company offers one-on-one sessions and small group sessions for individual member and a group of two to four members. The Company offers large group (typically eight to 12 members) programs under its T.E.A.M. platform. The Company's T.E.A.M. Weight Loss program focuses on exercise, education and nutrition and provides the resources and support toward long-term weight loss. The T.E.A.M. Fitness program combines cardio exercise with strength training. The Company's endurance program focuses on training in the proper heart rate zones, for the proper duration of time and at the proper frequency to burn fat more efficiently while improving overall health and fitness. The Company's T.E.A.M. Boot Camp enables members to test their strength, agility and stamina. From time to time, the Company also offers other weight loss and nutrition programs, such as the Life Time 90-Day Weight Loss Challenge, as an opportunity for members to receive education, training and motivation. The Company's centers offer fitness programs, including group fitness classes and health and fitness training seminars on subjects ranging from metabolism to personal nutrition. On average, the Company offers 85 group fitness classes per week at each current model center, including studio cycling, step workout, dance classes, circuit training and fitness yoga classes.
The Company's large format centers feature a Life Cafe, which offers fresh and healthy made-to-order and pre-prepared breakfast, lunch and dinner items, including sandwiches, salads, snacks, shakes and more. The Company's Life Cafes offer customers the choice of dining indoors, ordering their meals and snacks to go or, in each of the Company's model centers and certain of its other large format centers, dining outdoors at the poolside bistro. Life Cafes also typically offer the Life Time line of nutritional products and supplements, third-party nutritional products, exercise accessories and personal care products. The Company's LifeSpa is a salon and spa. Each in-center LifeSpa offers hair, body, skin care and massage therapy services, customized to each client's individual needs. The Company also offers medi-spa services in select locations. LifeClinic Chiropractic services are provided by licensed chiropractors. LifeClinic Chiropractic offers non-invasive form of soft tissue and joint treatment. The Company's centers offer on-site child centers for children from three months through 11 years of age as part of a monthly fee per child. All of the Company's large format centers offer a variety of additional programs for children, which may include birthday parties, school break camps, parents' night out, sports and fitness classes and swimming lessons. For adults, the Company offers a variety of sports leagues and interest-driven clubs.
During the year ended December 31, 2012, the Company produced over 100 events, serving over 90,000 participants. The Company's events range from entry level to ultra endurance events and draw from local, regional, national and international markets. The Company's larger events include triathlons such as the Life Time Tri Minneapolis and Life Time Tri Chicago, as well as the iconic Leadville Trail 100 Mountain Bike Race Across the Sky. The Company produces events primarily in markets in which the Company operates centers, including themed runs such as the Torchlight 5K Run and Turkey Day 5K. The Company offers a line of nutritional products, including Men's and Women 's Performance Multivitamins, Omega-3 Fish oils, Joint Maintenance Formulation, LeanSource Soft Gels, VeganMax, Whey Protein, and FastFuel Complete, its meal replacement product.
The Company competes with 4 Hour Fitness Worldwide, Inc., Equinox Holdings, Inc., LA Fitness International, LLC, Town Sports International, Inc. and Gold's Gym.
Life Time Fitness Inc
2902 Corporate Place
CHANHASSEN MN 55317