Life Time Fitness operates distinctive and large sports, athletic, fitness and family recreation centers. As of today, Life Time Fitness operates 83 centers in 18 states (states include Arizona, Colorado, Florida, Georgia, Kansas, Illinois, Indiana, Maryland, Michigan, Minnesota, Missouri, Nebraska, New Jersey, North Carolina, Ohio, Texas, Utah and Virginia).
In addition to traditional health club offerings, most Life Time Fitness centers include an expansive selection of premium amenities and services in a resort-like setting. Amenities include indoor and outdoor swimming pools, basketball and racquet courts, personal training and group fitness programming, child care centers, cafes and spas.
The Company enjoys multiple competitive strengths, including:
- Comprehensive and convenient programs and services
- A value proposition that encourages membership loyalty
- An established and proven economic model
- A disciplined and sophisticated site selection and development process
- A committed and experienced senior management team
Mission
Our mission is to provide an
Educational,
Entertaining,
Friendly and Inviting,
Functional and Innovative
experience of uncompromising quality that meets the
health and fitness needs of the entire family.
Vision
To be a Premier Employer by making every team member more valuable each year while Building and Expanding a Macro Healthy Way of Life Company and Brand that is respected and coveted by Customers, Vendors and Competitors.
Our History
Our Chairman and Chief Executive Officer, Bahram Akradi, founded Life Time Fitness with the vision to create a Healthy Way of Life company that would provide an educational and entertaining experience of uncompromising quality, while meeting the health and fitness needs of our members by always putting the customer first. For example, our company has never required long-term member contracts, instead preferring to offer month-to-month agreements that provide members flexibility, while focusing the efforts of employees on the goal of earning our members’ business each and every day, upon each and every visit.
In 1992, we opened our first club in Brooklyn Park, Minnesota - a 27,000 square-foot, strip mall facility that served as the first validation of a new, highly differentiated product and service that uniquely catered to individuals and families.
Since then, we have been credited with transforming the health and fitness industry with category-redefining centers that feature sports and athletics, family recreation and entertainment, professional fitness, spa services, and amenities and programming in a resort-like environment.
In 2000, we expanded our offerings beyond operating health clubs with the introduction of our proprietary line of nutritional products and supplements, and our award-winning magazine, Experience Life. In 2001, we formalized our Athletic Events division, which now offers more than 175 events each year, including triathlons (indoor and outdoor) and running events which primarily comprise 5Ks. Beginning in 2003, we launched a portfolio of health seminars, assessments and innovative partnerships with health insurance companies with the goal of further extending our Healthy Way of Life mission to corporate America.
In 2004, we completed our initial public offering and our stock is listed on the New York Stock Exchange (Ticker: LTM).
We have only closed one facility in our history – our previously mentioned Brooklyn Park, Minnesota center. We decided not to renew our lease of that location in December 2006 because we had opened five other locations in the vicinity that continue to serve the membership from this former location.
Since inception, we have led the creation not of a health club chain, but rather a comprehensive, Healthy Way of Life company and brand that continues to have a significant impact on the health and wellness of consumers.
| KEY FACTS |
| First Center Opened: |
1992 |
| Headquarters: |
Chanhassen, Minnesota |
| Exchange: |
NYSE |
| Ticker Symbol: |
LTM |
| CUSIP Number: |
53217R |
| SIC Code: |
7997 |
| Revenues: |
$655.8 million (FY2007) |
| Employees: |
16,700 (as of December 31,2008) |
| Number of Centers: |
83 (as of February 16, 2009)
- Arizona - 4
- Colorado - 2
- Florida - 1
- Georgia - 4
- Illinois - 9
- Indiana - 1
- Kansas - 1
- Maryland - 2
- Michigan - 6
- Minnesota - 24
- Missouri - 1
- Nebraska - 1
- New Jersey - 2
- North Carolina - 1
- Ohio - 3
- Texas - 17
- Utah - 1
- Virginia - 3
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