Life Time revenue up 23% year to date
October 30, 2023
Life Time Group Holdings Inc., saw a 23% increase in revenue through the first three fiscal quarters of 2023 as member visits were up 24% over pre-pandemic levels at the company’s fitness clubs. Revenue in Life Time’s athletic events business also was up, even though it sold two events earlier this year.
Company-wide, Life Time’s fitness center operating expenses increased 10% due to new and expanded centers and growth in memberships and other in-center revenue. Net increased to $67.9 million, up from $52.4 million in the period last year.
Life Time opened six new centers in the third quarter and nine year-to-date; it now operates 170 centers. It plans to open two more centers in the fourth quarter. BRAIN