Life Time Fitness Exceeds Expectations
July 23, 2009 by Wil Reagan
Filed under Fitness
While other companies are struggling, Life Time Fitness surpassed expectations for the second quarter with revenue growth of 10 Percent to $212.5 million from $192.4 million last year. However, net income fell 7.9 percent to $18.3 million compared with $19.8 million a year earlier.
Image: sxc.hu
Things were better than expected for the company because of an increase in membership, as well as membership retention.
“To this end, we continue to advance several connectivity and value enhancement initiatives for members, including dedicated monthly events across a wide range of interest areas at every center and a significantly enhanced myLT.com Web portal,” CEO Bahram Akradi said in a statement.
Life Time Fitness operates 84 fitness centers in 19 states. If you are a member, leave a comment here and let us know what you think of Life Time Fitness. With so many other gyms and health clubs seeing memberships fall off, it’s interesting to see that Life Time has managed not only to maintain membership numbers but also see some growth.
I was actually considering cancelling my Lifetime Fitness Membership. When I joined I was told my husband and I could rock climb during the day. Not so. There are only evening climbing hours and it is very busy with families. Aerobic classes do not change very often and there are only several instructors – after 3 years, a person gets tired of the same thing over and over. I would like to see new classes offered like kettlebells, bosu and turbo classes, etc. When I joined it was an extra $10 a month if I wanted to do yoga. Now that I am finally interested in yoga, it is $60/month – more than my membership fee!! I am still on the fence about it…