LTH | Market Cap: $9.2B (07/13/26)
Industry:
Consumer Services

DESCRIPTION

Life Time operates large-format premium fitness and wellness clubs — what it calls "athletic country clubs" — across over 185 locations in the U.S. and Canada. Each club averages over 95,000 sq ft for newer builds and offers a broad mix of amenities under one roof: fitness floors, pools, group fitness studios, tennis and pickleball courts, a spa, a café, childcare, and recovery facilities. Life Time targets affluent suburban and urban consumers, with members averaging a household income of $160K. Membership dues (~72% of center revenue) are the core revenue stream, priced on a month-to-month basis at an average of roughly $218/month, with no long-term contracts. The remaining ~28% comes from in-center spending on personal training, spa, food and beverage, and programming. Life Time also runs adjacent businesses including co-working spaces (Life Time Work), luxury residential apartments (Life Time Living), a nutrition supplement line (LTH), longevity health services (MIORA), and a free digital fitness app. Growth strategy centers on two levers: expanding new clubs at a target pace of 12–14 per year, funded through sale-leaseback transactions that recycle capital, and growing revenue per membership through dues increases, optimizing toward higher-value couples and family memberships, and scaling in-center businesses like personal training and spa services.

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