Luxury Gym Archives - Athletech News The Homepage of the Fitness & Wellness Industry Thu, 21 Mar 2024 20:52:20 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 https://athletechnews.com/wp-content/uploads/2021/08/ATHLETECH-FAVICON-KNOCKOUT-LRG-48x48.png Luxury Gym Archives - Athletech News 32 32 177284290 Wellness Clubs Are Taking Over NYC https://athletechnews.com/wellness-clubs-are-taking-over-nyc/ Wed, 20 Mar 2024 22:28:05 +0000 https://athletechnews.com/?p=104139 The Big Apple is taking a bite out of AI-powered wellness experiences in lavish, members-only clubs High-earning New Yorkers are expected to look increasingly well-rested, full of vitality and overall centered this summer as wellness brand Continuum opens its flagship location in New York City’s Greenwich Village, adding to the health and wellness landscape of…

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The Big Apple is taking a bite out of AI-powered wellness experiences in lavish, members-only clubs

High-earning New Yorkers are expected to look increasingly well-rested, full of vitality and overall centered this summer as wellness brand Continuum opens its flagship location in New York City’s Greenwich Village, adding to the health and wellness landscape of the Big Apple.

Opening its doors in May, Continuum Club has a waitlist for those hoping to receive its white glove service and hyper-personalized offerings, including one-on-one personal training sessions, massages, hyperbaric oxygen therapy, Himalayan salt saunas, cold plunge treatments, spacious workout zone and lounge areas. 

The “intentionally exclusive” club was leased through September 2032, occupying a 25,000 square-foot space that was once home to David Barton Gym and, most recently, Peloton’s Tread Studio, according to The Real Deal. 

Behind Continuum is its CEO and president Jeff Halevy, a former fitness tech entrepreneur and NBC’s “The Today Show” health correspondent.

AI-Infused Wellness

Unlike other luxury wellness clubs, the members-only Continuum is infusing advanced technology within its space, leveraging what Halevy says are “the most comprehensive physiological data sets, deep learning, and an expert team providing vertically integrated services” to deliver “ideal total wellness.”

Continuum Club clients receive a “bespoke wellness prescription” that the wellness company says is curated by its expert personnel and biometrically informed AI, which will adapt and adjust its recommendations over time. 

“Our club in Greenwich Village was meticulously curated to both house the leading technology and services in the wellness space and to do so in a cohesive, intentional, luxury environment,” said Continuum’s Chief Revenue Officer Tom Wingert, a former marketing executive from Lululemon. “We’ve brought an extraordinary team of NYC-based artisans together to create a sanctuary in the heart of the city that celebrates the heritage of the neighborhood and deeply incorporates nature in a way that encourages serenity amidst busy city life. The space is truly one of one.”

credit: Continuum

Although Continuum plans to expand its physical presence by establishing new clubs, the luxury brand will roll out its AI-driven wellness app beyond its club locations so users can experience biometric analysis and personalized prescriptions wherever they are.

Wellness at Every Corner 

The post-pandemic era certainly has resulted in a wellness boom in NYC. While Continuum plans to serve the Greenwich Village elite, Remedy Place, a social wellness club, opened in the Flatiron neighborhood in 2022.

Founded by Dr. Jonathan Leary, the “temptation and toxin-free” environment offers functional medicine, chiropractic movement, acupuncture, cupping, ice baths, infrared saunas and vitamin IV drips with an emphasis on socialization. Remedy Place also offers three different membership tiers, ranging from $350/month to $2,250/month, each offering guest passes. The wellness club also has a location in West Hollywood, California.

credit: Remedy Place

Also located in Flatiron is The Well, offering quarterly memberships for access to its social wellness experience that includes massage and skin health services, vitamin therapy, yoga and movement, Chinese medicine and acupuncture, vibrational energy healing and health coaching. Private events can also be booked at The Well, for corporate outings or a staycation. The Well also recently broke ground on The Well Bay Harbor Island, a wellness-focused condo and office space in Miami that rivals luxury residential concepts like Life Time Living.

While The Remedy Place and The Well offer club-level memberships, non-members can also experience a luxurious wellness session by booking a service of their choice, or head to one of NYC’s many communal bathhouses that have become all the rage.

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Equinox Locations Add Aescape, a Fully Automated Massage Bed https://athletechnews.com/equinox-adds-aescape-fully-automated-massage-bed/ Wed, 13 Mar 2024 13:46:16 +0000 https://athletechnews.com/?p=103909 As Aescape looks to disrupt the massage industry with robotic arms, Equinox members in NYC will gain access to a premium recovery tool Aescape has launched its whitespace innovation: the first commercially available, fully automated massage experience. The company also announced a partnership with luxury lifestyle and fitness operator Equinox, debuting its massage tables in…

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As Aescape looks to disrupt the massage industry with robotic arms, Equinox members in NYC will gain access to a premium recovery tool

Aescape has launched its whitespace innovation: the first commercially available, fully automated massage experience. The company also announced a partnership with luxury lifestyle and fitness operator Equinox, debuting its massage tables in select locations across New York City this spring.

Backed by $80 million in funding, Aescape aims to increase the efficiency and effectiveness of massages through advanced technology. .

“Aescape aims to make massage an accessible, regular part of rest and recovery, no longer reserved for indulgence or injury,” said Eric Litman, Founder and CEO. “Working alongside massage therapists over the last seven years, we’ve honed our technology to ensure it caters to diverse body types and lifestyles. It’s designed for anyone looking to book last-minute, or looking for control over their massage when therapists aren’t always available.” 

The technology is a fully automated, artificial intelligence-driven massage table. It scans the user’s body and generates over one million 3D data points to accurately map a user’s body on the table.

Using the 3D scan, the tool identifies key points on the body for a targeted massage. Aescape includes a touchscreen underneath the massage table that users can control to identify pressure points, target areas and music selections. The experience is also customizable—the platform can remember user preferences for future massages.  

Equinox Embraces Recovery

At Equinox, anyone can experience Aescape for $60 for 30 minutes, which will also include a free day pass to the gym for non-members. Beginning in June, the technology will be made available in ten locations in New York City. 

“We’re relentlessly focused on how we can help our community of high-performing individuals live better, healthier lives,” said James Gu, senior director, Equinox Spa. “As we continue to innovate with science-backed preparation and recovery modalities and new technologies, we are excited to offer Aescape. This personalized and accessible format will help our members further integrate recovery into their fitness routines.”

credit: Aescape

Disrupting the Massage Market

Litman is joined on the Aescape executive team by Sam Bowen, who worked in hardware at Amazon; Becca Valle, who worked in global marketing at Meta, Airbnb, and the New York Knicks; and Alex Linde, who worked in product at Uber, eBay, and Yahoo!

To develop the product, the Aescape team worked with thousands of individuals to develop a solution that caters to all body types and needs. By working with everyone from casual gym-goers to athletes, the company created a solution it says can cater to all audiences. 

credit: Aescape

The massage therapy market is valued at around $19 billion, and recovery solutions have never seemed more popular, including in gyms and fitness facilities as a value-add or premium membership service. The industry, which is also facing a shortage of therapists, is primed for disruption. Aescape offers an always-available, consistent massage, and aims to drive value for spas, hotels and wellness centers. 

Aescape is launching an early access program for New Yorkers, inviting participants to be among the first to try out the futuristic massage experience while providing feedback to refine the service further. The company is also actively seeking new partnerships. 

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Equinox Secures $1.8B for Loans, Club Expansion https://athletechnews.com/equinox-secures-1-8b-for-loans-club-expansion/ Mon, 11 Mar 2024 15:48:11 +0000 https://athletechnews.com/?p=103821 Fueled by record revenue growth and member engagement, the upscale brand is eyeing physical expansion and new programs Luxury lifestyle and health club operator Equinox has secured approximately $1.8 billion in new capital to refinance maturing loans, fund general corporate purposes and build new clubs. The brand also secured a new revolving credit facility from…

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Fueled by record revenue growth and member engagement, the upscale brand is eyeing physical expansion and new programs

Luxury lifestyle and health club operator Equinox has secured approximately $1.8 billion in new capital to refinance maturing loans, fund general corporate purposes and build new clubs. The brand also secured a new revolving credit facility from Goldman Sachs, Morgan Stanley and J.P. Morgan.

Equinox reported a 27% revenue increase in 2023 and a record-high member engagement. In addition to its 107 global clubs, the brand has a pipeline of 25-plus new locations in the works across major markets while Equinox continues to explore domestic and international opportunities. 

“We are seeing record performance in revenue growth and member engagement, which demonstrates our position as the global leader in high-performance luxury lifestyle,” said Harvey Spevak, executive chairman and managing partner of Equinox Group, which also encompasses Equinox Hotels, SoulCycle, Blink Fitness and E by Equinox. 

Member engagement may be at an all-time high due in part to Equinox Circle, a member perks program that debuted last year and is rich with top-of-the-line brand partners such as Oura, Bezel, Thorne, Provenance and Blade.

“These new strategic investments from a group of world-class partners that share our vision for the Equinox brand will empower us to accelerate further growth through new club openings and new innovative offerings, as well as by scaling the Equinox luxury experience,” Spevak added.

The financing includes capital from a mix of new and existing investors led by Sixth Street and Silver Lake and includes investments from Ares Management, HPS Investment Partners, L Catterton and the principals of the Related Companies.

The luxury lifestyle and fitness brand bulked up its staff, hiring 5,000 fitness coaches as Equinox members expressed continued interest in personal training services. Similarly, Equinox is listening to the needs of its clients on weight loss medications such as Ozempic and Wegovy — or those who are interested in using GLP-1s, rolling out a personal training program designed for those on weight-loss drugs.

“The drugs work so well, but we felt like something really important was missing for our clients on them,” Equinox club coach Michael Crandall said of the new program. “Weight loss interventions should always be done with a training program to get the best results.”

Crandall is leading the new program, following Equinox’s introduction of a Health Advisory Board featuring medical and wellness experts designed to support the Equinox Fitness Training Institute, which offers accredited curriculum and board certification for performance coaches.

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Life Time CEO Touts Member Engagement as Shares Soar https://athletechnews.com/life-time-ceo-touts-member-engagement-as-shares-soar/ Wed, 28 Feb 2024 19:07:20 +0000 https://athletechnews.com/?p=103490 The luxury lifestyle and fitness operator’s stock surged Wednesday on the back of strong 2023 financials and membership metrics Shares of Life Time are surging in response to strong fourth quarter and full-year fiscal 2023 results, demonstrating that its member-rich amenities and services are a hit with wellness seekers — so much so that there…

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The luxury lifestyle and fitness operator’s stock surged Wednesday on the back of strong 2023 financials and membership metrics

Shares of Life Time are surging in response to strong fourth quarter and full-year fiscal 2023 results, demonstrating that its member-rich amenities and services are a hit with wellness seekers — so much so that there are membership waitlists at over 20 Life Time clubs, with additional clubs expected to have waitlists by May. 

The luxury fitness and lifestyle operator reported its total revenue increased 18.2% to $558.8 million for the fourth quarter and 21.6% to $2.217 billion for the year, crediting its continued strong growth in membership dues and in-center revenue. Net income also increased to $23.7 million for the fourth quarter and $76.1 million for the year. 

“I am thrilled to report that we achieved our operating and strategic objectives and exceeded our financial goals in 2023,” said Bahram Akradi, Life Time founder, chairman and CEO. “We set record levels of revenue and adjusted EBITDA, improved our balance sheet and further reduced our net debt leverage ratio.”

Akradi emphasized that Life Time expects to be free cash flow positive beginning in the second quarter and plans to open nine to ten new centers in 2024. The fitness operator opened its eighth facility in New Jersey this week.

“We also increased member engagement through our strategic programming initiatives, as highlighted by the increase to 135 average visits per membership compared to 124 in 2022 and, most notably, 108 in 2019 before the pandemic. The increase is a clear indication that our members are more engaged, with higher retention as a key outcome,” Akradi said,

Following Wednesday morning’s earnings call, shares of Life Time shot up over 11% as of Wednesday afternoon.

Resilient & In-Demand

Establishing waitlists for busy Life Time clubs creates a two-fold benefit, noted Akradi: maintaining the brand’s member experience and improving member retention.

“We expect to realize the highest retention rates in the history of Life Time in 2024,” he told investors, adding that, like most high-end leisure brands, the club doesn’t see any weaknesses in traffic.

By comparison, Placer.ai recently reported that traffic to ten leading fitness operators fell flat last month, typically when gyms are bustling with New Year ‘Fitness Resolutioners.’ 

“Right now, we see no reason to suggest the positive trend we’re experiencing today should change going forward,” Akradi added.

Life Time will also continue to invest in programming such as pickleball and small group classes.

Bullish on GLP-1s

Life Time isn’t experiencing any pain from the weight loss medication surge, with Akradi noting that Miora, the brand’s medical wellness and longevity clinic launched last fall, is a “huge opportunity” for the luxury lifestyle operator. The clinic offers popular, non-invasive wellness therapies such as infrared saunas, red light therapy, peptides, hormone replacement therapy, IV therapy, cryotherapy chambers and even GLP-1 weight loss drugs.

“We have exactly the right customer base in our clubs,” he said. “This is going to remain a megatrend. It’s going to stay, and it’s not a negative for exercise because you absolutely need to combine the proper weight training and nutrition with these drugs. The exercise business is going to get a win out of it.”

Further, Akradi points out that weight loss customers spending $500 – $1000 a month on drugs like Ozempic and Wegovy will want the proper facilities, professional personal trainers and nutritionists to support their health investment. He also sees those who have lost weight becoming more comfortable attending Life Time clubs. 

“Lifetime is uniquely positioned because, in every market, we have facilities where we can launch Miora Clinics for longevity, for addressing weight loss, peptides, all of that,” he said. “We look at this as nothing but an upside.”

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Life Time Extends Hoka Deal, Expands in Colorado https://athletechnews.com/life-time-extends-hoka-deal-expands-in-colorado/ Mon, 29 Jan 2024 23:50:58 +0000 https://athletechnews.com/?p=102569 The apparel and footwear brand will host pop-up shops and experiences at select Life Time clubs and events this year Luxury lifestyle and fitness operator Life Time, which is gearing up for its seventh location in Colorado amid other recent expansion moves, is expanding its multi-year relationship with performance footwear and apparel brand Hoka, crowning…

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The apparel and footwear brand will host pop-up shops and experiences at select Life Time clubs and events this year

Luxury lifestyle and fitness operator Life Time, which is gearing up for its seventh location in Colorado amid other recent expansion moves, is expanding its multi-year relationship with performance footwear and apparel brand Hoka, crowning the brand as the official sponsor of the Life Time Miami Marathon on January 28. The two entities first partnered in 2018.

The apparel and footwear brand is also the official sponsor of select Life Time group classes and group training programs, such as GTX, MB360, Ultra Fit and Dynamic Personal Training. Hoka has also been tapped to sponsor Life Time’s annual cardio party with classes and “social hour” elements at Life Time destinations.

“It’s been phenomenal to hear how Hoka has impacted the performance of our members, coaches, and trainers, and to see the success of this multi-faceted strategic partnership as we grow both of our brands,” said Kimo Seymour, president of Life Time Events. “We have created an incredible synergy between Life Time and Hoke, and it’s one we are very excited to continue as we collectively promote a healthy way of life and provide tools to help people achieve their wellness goals and aspirations.”

As for other Live Time events, Hoka will continue to serve as a presenting sponsor and official running shoe of the Chicago Half Marathon.

Life Time x Hoka Events

Perhaps most noteworthy is that Hoka will host pop-up shops and experiences for Life Time members and non-members at select clubs and other athletic events during the year, where participants can try Hoka shoes and gear. 

Bahram Akradi, Life Time’s founder and CEO, had indicated last October that the fitness operator would lean into retail initiatives in 2024 through apparel and nutritional sales. 

“I don’t really like to have any seasonal drops,” Akradi told investors of the push for retail initiatives to offset any expected declines.

The luxury fitness operator also launched a new video series, “Reveal Your Potential,” to demonstrate the power of Life Time and Hoka in training and overall wellness. The video series is being shared in Life Time clubs, online and in print. 

In one story, “Striving to be a Champion,” Mya Hooten, a gymnast competing for the University of Minnesota, discusses her love for athletics and how she pushes through training even on the most challenging days.  

Expanding in Colorado, Nationwide

As Life Time extends its partnership with Hoka, the operator also continues its aggressive pace of expansion nationwide. Against the mountainous landscape of Wheat Ridge, Life Time is opening its seventh location in Colorado in Q1. A waitlist is now available for the upcoming 111,000-square-foot club, Life Time Denver West, which features a massive workout floor, resort-style pools, indoor and outdoor pickleball courts and 100+ fitness classes. 

Rendering of Life Time Denver West (credit: Life Time)

For those looking to blend a healthy lifestyle while on the clock, the upcoming Wheat Ridge club will be the first in the state with a Life Time Work Lounge, a fee-based amenity that offers sit-to-stand desks, tables, library-like seating, a conference room, printing and other modern office functions. 

An eighth Colorado Life Time club is slated to open later this year in Boulder. As for the rest of the nation, Life Time has plans to expand with eight other luxury clubs in New York, New Jersey, Georgia, Texas and California.

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Equinox Designs Training Program for Members on Weight Loss Drugs https://athletechnews.com/equinox-training-program-weight-loss-drugs/ Tue, 02 Jan 2024 22:56:39 +0000 https://athletechnews.com/?p=101693 The luxury fitness brand is creating a program to help Ozempic and Wegovy users build long-term, healthy habits Luxury fitness and wellness brand Equinox is starting the new year with a personal training program designed for clients on popular weight-loss medications such as Ozempic and Wegovy or who are interested in using GLP-1s. The famed…

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The luxury fitness brand is creating a program to help Ozempic and Wegovy users build long-term, healthy habits

Luxury fitness and wellness brand Equinox is starting the new year with a personal training program designed for clients on popular weight-loss medications such as Ozempic and Wegovy or who are interested in using GLP-1s.

The famed fitness club is one of the first to roll out such a program in response to the market-disrupting impact of weight loss medications. 

“We’re creating an internal education program at the Equinox Fitness Training Institute, adding the GLP1 protocol to coach the many members using them,” Equinox club coach Michael Crandall told People.com, which first reported the new program. “The drugs work so well, but we felt like something really important was missing for our clients on them. Weight loss interventions should always be done with a training program to get the best results.”

Crandall is leading the new program, a move following Equinox recently adding a Health Advisory Board featuring a panel of medical and wellness experts designed to support Equinox Fitness Training Institute, which offers accredited curriculum and board certification for performance coaches. 

Fitness Brands Embrace Ozempic

While Equinox isn’t directly offering weight loss medications like Life Time or Xponential Fitness, which recently acquired Lindora health clinics, targeting clientele using the injectables can also prove lucrative. The numbers speak for themselves: roughly 3.6 million patients in the U.S. with insurance had a prescription claim for a GLP-1 in 2022, found Trilliant Health.

And while GLP-1s are causing consumers to shed weight rapidly, it does come with a price — losing weight too quickly can cause medication users to lose valuable lean muscle mass. Equinox’s fitness coaches will learn how to create workout plans for those experiencing GLP-1 side effects, helping them mitigate any muscle loss through aerobic or anaerobic conditioning or strength training, Crandall explained. 

However, a crucial component of Equinox’s new program is empowering clients to cultivate better habits and lead a healthy lifestyle for the long haul.

“Our clients are thinking weight loss for the long term, and they’re very motivated to keep the weight off,” he told People. “What we’re doing in empowering them so when they ease themselves off, they won’t be nervous or worried they’re just going to put it right back on.”

In tandem with the rise of GLP-1s, fitness and wellness enthusiasts are seeking customized experiences under the guidance of a coach, whether it’s for fitness, nutrition or both. Last spring, the luxury lifestyle and fitness brand announced plans to hire 5,000 fitness coaches in response to demand for personal training services. 

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Equinox Names Health Advisory Board To Guide Holistic Wellness https://athletechnews.com/equinox-names-health-advisory-board-to-guide-holistic-wellness/ Fri, 22 Dec 2023 21:56:53 +0000 https://athletechnews.com/?p=101509 The panel of experts will counsel the Equinox Fitness Training Institute (EFTI) to elevate programming for the brand’s members and coaches Equinox, the luxury lifestyle and fitness brand, has revealed a new Health Advisory Board of top medical and wellness experts, academics and industry leaders to guide Equinox on its holistic approach. Equinox has made…

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The panel of experts will counsel the Equinox Fitness Training Institute (EFTI) to elevate programming for the brand’s members and coaches

Equinox, the luxury lifestyle and fitness brand, has revealed a new Health Advisory Board of top medical and wellness experts, academics and industry leaders to guide Equinox on its holistic approach.

Equinox has made no secret of its plans to ramp up its hiring of coaches, aiming to onboard 5,000 fitness pros over the next two years as its members continue to seek personal training services. The new Health Advisory Board will support Equinox Fitness Training Institute (EFTI), which offers accredited curriculum and board certification for performance coaches. 

The move mirrors the New York-based fitness brand’s mission to create a members-first experience beyond eucalyptus towels, making exercise a luxe experience with perks such as an exclusive members-only program with leading brands across fitness, wellness, fashion, food and travel.

Members of Equinox’s Health Advisory Board include Eric Cressey, president and co-founder of Cressey Sports Performance and certified strength and conditioning specialist (CSCS). Cressey, the director of Player Health and performance for the New York Yankees, has worked with over 100 pro baseball players.

Dr. Mark Hyman, a physician, functional medicine advocate and author, also joins the board, bringing his experience as founder and director of The UltraWellness Center and founder and senior advisor for the Cleveland Clinic Center for Functional Medicine. Dr. Hyman also serves as board president for Clinical Affairs for The Institute for Functional Medicine.

Dr. Stephanie Kuku, health technology advisor in digital health and artificial intelligence for Hardian Health and chief knowledge officer at Conceivable Life Sciences, comes to the new Equinox board with over 15 years of clinical and research experience.

Joining Cressey, Dr. Hyman and Dr. Kuku are Dr. Rebecca Robbins, a sleep scientist, assistant professor in Medicine at Harvard Medical School and associate science at the Brigham and Women’s Hospital and Dr. Jordan Shlain, founder and chairman of Private Medical and founder of Healthloop, an AI digital health company. He is also the co-founder and chair of EatReal, a non-profit advocating to improve public school food menus.

“At Equinox, we are relentless in our pursuit of delivering results to our community, and the accomplished members of our Health Advisory Board will be instrumental in helping take our shared commitment to new heights in 2024 and beyond,” said Scott DeRue, Equinox president.

The Wall Street Journal and Bloomberg recently reported that the luxury fitness club operator is in talks to raise a mix of new debt and preferred equity to offset its upcoming debt maturities of $1.5 billion.

The famed fitness brand has also grown its international footprint this year with the announcement that its hotel line would be hitting the Red Sea coast as it builds The Equinox Resort Amaala in Saudi Arabia — an amenity-rich resort that boasts movement, nutrition and regeneration and a magnesium salt rooftop pool.

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Equinox Explores $1B+ Loan To Refinance Debt, Reports Say https://athletechnews.com/equinox-explores-1b-loan-to-refinance-debt/ Tue, 19 Dec 2023 22:20:52 +0000 https://athletechnews.com/?p=101405 With a looming debt of around $1.5B coming due, Equinox is reportedly looking to raise a mix of new debt and preferred equity Luxury fitness club operator Equinox Holdings is currently mulling its options to refinance upcoming debt maturities, including securing a $1.3 billion loan in the private credit market, according to reports by The…

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With a looming debt of around $1.5B coming due, Equinox is reportedly looking to raise a mix of new debt and preferred equity

Luxury fitness club operator Equinox Holdings is currently mulling its options to refinance upcoming debt maturities, including securing a $1.3 billion loan in the private credit market, according to reports by The Wall Street Journal and Bloomberg attributing anonymous insiders familiar with the matter.

The NYC-based “temple of well-being” launched in 1991, since growing to over 300 locations across the U.S., Canada and London with its signature clubs and fitness brands such as Pure Yoga, Blink Fitness and SoulCycle. The brand has also branched out to include luxurious experiences with Equinox Hotels. Recently, Equinox has partnered with a spate of leading brands across fitness, wellness, fashion, food and travel, offering its members exclusive perks like a co-branded Rest & Recovery Kit with Oura.

Equinox has been in talks to raise approximately $400 million in preferred equity as part of the financing and is reportedly working with Centerview Partners and Goldman Sachs as it explores its options.

As WSJ notes, citing a research report last month from Moody’s Investors Service, Equinox has a $76 million revolver maturing in January, a $1.2 billion loan maturing in March, and a $200 million junior loan to be repaid in September.

Last year, Equinox received some criticism for its “It’s not you, it’s January” marketing move where new members who wished to join its fitness clubs on January 1 would be turned away and prompted to join the following day.

Equinox did not immediately respond for comment.

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Bay Club Acquires Pro Club, Continuing West Coast Expansion https://athletechnews.com/bay-club-acquires-pro-club-continuing-west-coast-expansion/ Tue, 05 Dec 2023 18:43:27 +0000 https://athletechnews.com/?p=100873 Now at 26 locations, the San Francisco-based Bay Club projects its total membership to surpass 135,000 The Bay Club Company has made a deal to acquire Pro Club, which has two luxury lifestyle and wellness facilities in Seattle and Bellevue, Washington. It’s Bay Club’s third acquisition in recent months as the San Francisco-based active lifestyle…

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Now at 26 locations, the San Francisco-based Bay Club projects its total membership to surpass 135,000

The Bay Club Company has made a deal to acquire Pro Club, which has two luxury lifestyle and wellness facilities in Seattle and Bellevue, Washington. It’s Bay Club’s third acquisition in recent months as the San Francisco-based active lifestyle club continues to expand on the West Coast, adding to its existing footprint in Northern and Southern California. 

Recent acquisitions include Novato’s Rolling Hills Club and Danville’s Crow Canyon Country Club, with additional deals expected in 2024. The Bay Club now has 26 locations from San Diego to Seattle and projects its membership to surpass 135,000. 

Rick Caro, a fitness industry vet who serves as a Bay Club board member and president of Management Vision, Inc., connected the two healthy lifestyle operators, resulting in the deal.

“This transaction involves the single largest revenue-grossing health/athletic club in the U.S.,” Caro said. “Pro Club has been a market leader for decades in terms of revenue, memberships, programming and its service levels.”

“We are thrilled to join forces with the Bay Club, an exceptional active lifestyle brand that shares our passion and culture for empowering individuals to achieve their health and wellness goals,” said Dick Knight, Pro Club president. “With the Bay Club, opportunities are elevated for members and associates, fostering an even more vibrant community whose focus aligns on achieving lifestyle goals and promoting overall well-being.”

In addition to leisure and luxury amenities like indoor swimming pools and group fitness studios, Pro Club offers spa and medical services such as supervised weight management programs and hyperbaric oxygen therapy.

Bay Club’s latest acquisition marks a “momentous occasion” for the club industry as a whole, added Bay Club president and CEO Matthew Stevens. 

“By welcoming Pro Club into our Bay Club family, we not only expand our reach in the Pacific Northwest while enhancing the active lifestyle offerings for our members, but we also create another investment proof point for courageous founders such as Dick Knight and Dr. Mark Dedomenico,” Stevens said.

Knight and Dedomenico will continue to serve Bay Club as strategic advisors for a minimum of three years. 

While the acquisitions have kept Bay Club busy, the luxury lifestyle operator also found time to partner with outdoor fitness solutions provider BeaverFit to enhance its member experience with additional fitness spaces in its club locations.

BeaverFit helped revamp and outfit Bay Club San Francisco’s rooftop with outdoor fitness equipment and will also give an overhaul to Bay Club’s Santa Clara and Redondo Beach locations in 2024.

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Life Time Launches Medical Wellness & Longevity Clinic https://athletechnews.com/life-time-miora-medical-wellness-longevity-clinic/ Wed, 22 Nov 2023 01:27:15 +0000 https://athletechnews.com/?p=100531 The Miora clinic in Minneapolis has a team of doctors, physician assistants, nurses and personal trainers, and includes weight loss drugs Luxury lifestyle and fitness operator Life Time has created facilities and residences supporting wellness and is now making its next big move with the introduction of Miora Longevity and Performance clinics.  Harnessing a forward-thinking…

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The Miora clinic in Minneapolis has a team of doctors, physician assistants, nurses and personal trainers, and includes weight loss drugs

Luxury lifestyle and fitness operator Life Time has created facilities and residences supporting wellness and is now making its next big move with the introduction of Miora Longevity and Performance clinics. 

Harnessing a forward-thinking and non-invasive approach to wellness, Miora Longevity and Performance will offer popular therapies like infrared saunas, red light therapy, peptides, hormone replacement therapy, IV therapy, cryotherapy chambers and even GLP-1 weight loss drugs such as Ozempic.

The first Miora Longevity and Performance clinic launched at Life Time’s Target Center health club in Minneapolis as a pilot program. If successful, Life Time plans to expand the clinics to its 170+ locations. 

“We’ve always been dedicated to helping people live higher quality lives,” Jeff Zwiefel, Life Time president and chief operating officer, told CBS News Minnesota. “Miora Longevity and Performance is just a natural extension for Life Time to continue to do that.”

The news of a health clinic addition comes after Life Time’s shares slid 15% after its recent Q3 earnings. The luxury lifestyle operator had indicated that it was exploring entering the popular GLP-1 weight loss medication industry with a comprehensive in-house program, noting that its members have shown interest in incorporating GLP-1s with their Life Time club experience.

Medical Oversight for Members

As Miora supports longevity, it intends to provide preventative therapies to prevent cardiovascular disease and cancer. The new clinic in downtown Minneapolis has a team of doctors, physician assistants, nurses and personal trainers.

“We provide full medical oversight to ensure you get the best results in terms of improving the quality of your life,” Zwiefel said. “And we think there’s nothing like it.”

Dr. Jim LaValle, who developed the clinic’s program and is an anti-aging expert, said Miora takes a science-based approach.

“We start with lab analysis. That lab analysis leads to a proprietary program that really targets where your issues are,” he explained.

Comprehensive plans are then created based on a client’s lifestyle and medications so they can overcome any metabolic roadblocks they may be experiencing.

“So it really personalizes exactly what they need, safely on the cutting edge of healthcare and science,” Dr. LaValle said.

According to Twin Cities Business, Miora patients can pay a one-time fee of $299 to receive a metabolic profile, blood work, metabolic code report, and consultation, but a $199 a month membership is also available, which includes urgent care, house calls and access to therapies such as peptides, infrared saunas and more.

Although Miora offers weight loss medications such as Ozempic and Wegovy, the clinic says its goal is to create a treatment plan that supports a long-term healthy lifestyle. 

“When you take a drug like the GLP-1s and just go, ‘Okay, here’s another hero medication. You don’t have to worry about exercise, worry about diet, you don’t have to worry about getting a good night’s sleep. Just take the shot.’ That’s exactly what we’re not about,” LaValle told the publication.

The Ever-Growing Life Time Experience

The latest endeavor by Life Time demonstrates its continued mission of delivering an amenity-rich experience while genuinely listening to the desires of its members. 

Life Time has credited its strong growth in membership sales and member engagement to its programming, including pickleball, group fitness, personal training, and the recent addition of dynamic stretching.

“Our investments in programming are working to increase member engagement at our clubs with average member visits up 24 percent versus 2019,” Life Time founder and CEO Bahram Akradi told investors on the company’s last earnings call.

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Life Time Stock Slides. Could a Push Into Weight Loss Drugs Help? https://athletechnews.com/life-time-stock-slides-weight-loss-drugs/ Tue, 31 Oct 2023 19:23:44 +0000 https://athletechnews.com/?p=99844 The luxury club operator’s shares are down 15% since reporting Q3 results, but a push into GLP-1s could bring investor confidence back Life Time members may appreciate the luxury club operator’s amenity-rich experience, but investors suddenly seem hesitant to jump into the eucalyptus-scented steam rooms, as seen by shares of LTH diving 15% last week…

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The luxury club operator’s shares are down 15% since reporting Q3 results, but a push into GLP-1s could bring investor confidence back

Life Time members may appreciate the luxury club operator’s amenity-rich experience, but investors suddenly seem hesitant to jump into the eucalyptus-scented steam rooms, as seen by shares of LTH diving 15% last week in response to its third-quarter results. 

Although Life Time reported a 17.9% revenue increase to $585.2 million and a 7.6% membership boost of 56,602 compared to Q3 of last year, looming macro factors may be at play, such as rising interest rates and higher-than-average member pricing possibly resulting in churn.

Still, in spite of a challenging economic backdrop, Bahram Akradi, Life Time founder and CEO, is committed to investing in a premium membership experience. It’s a method that has paid off before — Life Time’s strong member base and revenue trends led to an upgraded credit rating by Moody’s Investor Service. 

While other fitness operators were left gutted in the wake of the pandemic, Life Time continues to grow, opening new facilities including Penn 1 in New York City, indoor pickleball courts and even Life Time Living residences. In NYC alone, Life Time is opening three additional locations next year. In Q3, Life Time opened six new centers in addition to the ten it opened in the first nine months of the year.

Life Time Penn 1 (credit: Life Time)

Revenue, Membership Numbers Trend Upward

Most notably, the luxury lifestyle operator has reported strong growth in membership sales and member engagement without depending on marketing or promotions.

“Our investments in programming are working to increase member engagement at our clubs with average member visits up 24 percent versus 2019,” Akradi told investors on Life Time’s recent Q3 earnings call.

He added that Life Time is also on a path to becoming free cash flow positive by the middle of next year, two years ahead of schedule. 

Life Time Embraces Weight Loss Meds

As Life Time continues to provide recovery and boutique-style wellness offerings for its members, the fitness operator has revealed it’s contemplating tapping into the popular GLP-1 weight loss medication industry with a comprehensive in-house program. 

The reason? Life Time’s members are looking to incorporate GLP-1s with their in-club experience.

Jeff Zwiefel, Life Time president and COO, told CNBC that the company is in the process of embarking on a pilot program to evaluate the “use and deployment of physicians, physician assistants and nurse practitioners” that would work together with a member’s primary care doctor and Life Time’s personal trainers and registered dieticians.

Over the summer, Akradi commented on the soaring weight loss medication sector, predicting that Life Time would remain unaffected by consumers who jump-start weight loss with GLP-1s such as Ozempic and Wegovy.

“We have fewer people joining (Life Time) for weight loss,” he told investors on a Q2 earnings call earlier this year, adding that the athletic club hasn’t seen a difference in memberships because of the availability of weight loss medication. 

Akradi added that if Life Time was purely a fitness company, there would perhaps be an impact on GLP-1s. However, since the brand offers a broad country club-esque experience with its programs, beach clubs, social gathering opportunities and small and large group classes, he surmised that Life Time isn’t concerned.

While not necessarily a change of heart, incorporating GLP-1s may strengthen investors’ outlook on Life Time, especially as the weight loss medication market is expected to reach $100 billion by 2030. 

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In-Person Fitness Rebounds Post-Pandemic, IHRSA Report Finds https://athletechnews.com/in-person-fitness-rebounds-post-pandemic-ihrsa-global-report/ Mon, 30 Oct 2023 20:06:50 +0000 https://athletechnews.com/?p=99814 Members continue to return to gyms and studios in the U.S. and abroad, according to the 2023 IHRSA Global Report IHRSA has released its 2023 IHRSA Global Report, an annual review of the health and trajectory of the global industry. The report, which includes data from a survey of IHRSA member health clubs, gyms, and studios…

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Members continue to return to gyms and studios in the U.S. and abroad, according to the 2023 IHRSA Global Report

IHRSA has released its 2023 IHRSA Global Report, an annual review of the health and trajectory of the global industry. The report, which includes data from a survey of IHRSA member health clubs, gyms, and studios as well as insights from federation leaders in 15 countries and industry partners, points to the resurgence of the fitness industry post-pandemic, with members continuing to return to gyms and studios in large numbers.

“This year’s report shows that health and fitness industry executives worldwide are optimistic about the trajectory of our industry,” said Liz Clark IHRSA President & CEO. “Consumers have gained a better understanding about the correlation between physical activity and better mental and physical health and well-being, which has led to a resurgence in people connecting and engaging in-person at health clubs and studios around the world.

IHRSA is a not-for-profit trade association representing the global fitness industry of over 200,000 health and fitness facilities and their suppliers. Founded in 1981, IHRSA maintains a leadership role in advancing physical activity. IHRSA’s mission is to grow, promote, and protect the health and fitness industry while providing its members with benefits and resources.

Here, Athletech News provides insights gleaned from the industry overview, trend, and survey data from the 2023 IHRSA Annual Global Report:

Key Takeaways:

  • High Value/Low Price (HV/LP) and luxury fitness facilities gained the most over the past year.
  • Top fitness companies reported strong YoY growth and fitness club expectations and public company data signal a favorable 2023.
  • Leading studios rebounded after being hit the hardest during the pandemic. Today, boutique fitness accounts for 42% of all gym memberships.
  • Franchising remained resilient during CVID due to the ability to leverage many owners to manage risk and challenges.
  • AI, integration with healthcare providers, wellness services, pickleball and Gen Z are opportunities for the fitness industry; energy costs, new weight loss drugs, staffing and supply chain issues are challenges.
  • Emerging markets in Asia Pacific, Middle East-North Africa (MENA), and Latin America-Caribbean are poised for growth.

Members Continue To Return to Clubs & Studios

Compared with a year ago, while the fitness industry was rebuilding from the pandemic, the outlook is more positive in most regions of the world as members continue to return to clubs and studios. In the US, research firm Placer.ai, which measures retail traffic in brick-and-mortar businesses and website visits, released its results for April 2023. Compared with April 2022, Placer.ai noted the following foot traffic trends for these major brands: 

  • Club Pilates: +25% 
  • Crunch Fitness: +20% 
  • Planet Fitness: +15% 
  • LA Fitness: Even 
  • Pure Barre: Even

High Value/Low Price & Luxury Fitness Facilities Flourish

The High Value/Low Price (HV/LP) business model gained the most over the last year, led by Planet Fitness. The company’s revenue increased by 27.6% year over year (YoY) in 2Q23 and grew its locations to 2,472 with more than 18.4 million members. Other HV/LP brands including Blink Fitness, EōS Fitness, VASA Fitness, Vivagym, Basic-Fit and PureGym had similar gains supporting that HV/LP fitness centers have found a larger audience post-pandemic. Luxury and high-end brands, such as Life Time, Equinox, VIDA Fitness, and Bay Club, also continue to experience a post-COVID resurgence. 

Boutique Studios Rebound After Pandemic

Boutique fitness accounts for 42% of all gym memberships today, with an estimated growth of 17% by 2025. This is a rebound from the pandemic, when 30% of studios in the U.S. closed permanently in 2021. Studio members declined by approximately 22% from 2019 to 2021, according to the 2022 IHRSA Health Club Consumer Report.

  Xponential Fitness, a leader in boutique fitness, reported its total members across North America grew by 29% YoY to 697,000 with sales of $341 million, a 37% increase over 2Q22.  Other notable studios include [solidcore], a high-intensity, low-impact, strength workout on a Pilates-inspired reformer, which opened its 100th studio and plans to double its store footprint and expand internationally. Orangetheory Fitness expanded with 1,500 locations in 24 countries and plans to add 100 more locations this year. 

Franchising Model Resilient During Pandemic

The franchise model showed resilience during the pandemic. Overall, fitness club revenues fell by about 30%, and 22% of facilities closed during COVID; comparatively franchise revenues declined by about 13% with approximately 10% of franchised facilities closing during the pandemic. Crunch Fitness is a notable leader in the sector and in 2020 the company thrived; its membership grew by 5.6% and the franchisor opened 40 new locations. Jim Rowley, CEO and partner at Crunch, attributes the company’s resilience to its ability to leverage its network of many different owners to mitigate and share risks and challenges. 

Trends Shaping the Global Fitness Industry 

The IHRSA reported on the major trends which include both challenges and opportunities that are impacting the market, club management, and consumer behavior. Here the trends are summarized in Figure 1. 

Figure 1. Trends Impacting the Fitness Industry

Source: 2023 IHRSA Global Report: Data and Insights on the Health and Fitness Industry

Better Years Ahead

IHRSA conducts an annual survey of its largest health member clubs and studios. Here are the findings derived from consumer insights, economic research, and data gathered from club operators through the annual IHRSA Global Report survey. 

  1. Top Health Club Companies Recorded Strong YoY Growth in 2022

Despite a volatile economic environment, leading fitness club companies recorded strong performances in 2022. Topping global rankings in memberships, Planet Fitness reached an all-time high of 17 million members at the end of 2022, up 12% from 15.2 million in 2021. In Latin America, Brazil-based Smart Fit grew its member count by 26%, with approximately 3.8 million members at the end of 2022. 

Leading fitness operators also added new locations. Anytime Fitness ended 2022 with more than 5,000 locations worldwide. Xponential Fitness ended 2022 with more than 2,600 locations, a 24% increase. Three other companies also increased their portfolios in 2022: Planet Fitness (+7%), Smart Fit (+15%), and Basic-Fit (+18%).

  1. Economic Headwinds & Operational Struggles Continue

A full recovery has not been reached in health club markets in the United Kingdom, Germany, Spain, and Japan. Emerging fitness markets are also contending with economic and regulatory headwinds. Small to medium-sized enterprises (SMEs) in the fitness industry have been harder hit in the post-COVID environment due to a tight labor market, high inflation, and high interest rates.

Some public companies struggled with recovery including Mexico-based Grupo Sports World and Curves Holdings Group, based in Japan. Other companies including Fitness First permanently closed its locations in Hong Kong, SoulCycle announced in 2022 that it would close 25% of its locations in the U.S.; F45 voluntarily delisted from the New York Stock Exchange in August 2023. 

  1. Fitness Club Expectations & Public Company Data Signal Favorable 2023

Club fitness operator outlook and public company data are both positive indicators for the industry for the rest of 2023, though IHRSA reported that some caution is warranted with the macro environment facing some businesses. Four out of five (81%) of those surveyed by IHRSA expect membership to grow by more than 5% in 2023 relative to 2022. The same percentage anticipates that revenue will increase by more than 5%. The latest filings from public health club companies also indicate positive revenue outlooks. 

  1. Consumer & Economic Impact Research Support a Favorable Long-term Outlook

The Global Wellness Institute forecasts the global market for physical activity to reach $1.1 trillion by the end of 2023 with significant growth coming from emerging markets in Asia Pacific, Middle East-North Africa (MENA), and Latin America-Caribbean. With many club facilities owned by the top 25 companies located in North America, Europe, and Australia, these regions represent opportunities. An IPSOS Global Tracker study found that across 50 territories worldwide, 86% of consumers are motivated to look after their physical health. This desire is highest among respondents from Asia, Africa, and Latin America. Thus, there is an opportunity for fitness businesses to leverage the drive for physical well-being as the economies, infrastructures, and per capita income of emerging countries improve. 

The full 2023 IHRSA Global Report report can be found here.

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Equinox, Oura Team Up on Co-Branded Rest & Recovery Kit https://athletechnews.com/equinox-oura-co-branded-rest-recovery-kit/ Wed, 25 Oct 2023 21:04:08 +0000 https://athletechnews.com/?p=99712 The kit includes a Gen 3 Oura Ring, an Oura x Equinox branded ring cover, charger, leather pouch and a one-year Oura membership Oura has unveiled a collaboration with Equinox, with the sides introducing a co-branded Rest & Recovery Kit. The collaboration is part of the Equinox Circle program, designed to give club members exclusive…

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The kit includes a Gen 3 Oura Ring, an Oura x Equinox branded ring cover, charger, leather pouch and a one-year Oura membership

Oura has unveiled a collaboration with Equinox, with the sides introducing a co-branded Rest & Recovery Kit.

The collaboration is part of the Equinox Circle program, designed to give club members exclusive access and privileges to a range of luxury brands spanning nutrition, fitness, wellness technology and more. Other brands that are part of the Circle collection include sneaker resale website StockX, supplement company Thorne HealthTech, meal delivery service Provenance Meals and air travel platform Blade.

The Rest & Recovery Kit is now available for purchase online for $545, catering to Equinox members and non-members alike. This comprehensive kit is curated to enhance the rest and recovery experience of individuals dedicated to their fitness journey. It includes the Gen 3 Oura ring, available in a choice of Horizon Silver or Horizon Stealth, accompanied by an exclusive Oura x Equinox branded ring cover. The kit also comprises a charger, a sleek leather pouch and a one-year Oura Membership.

One of the standout features of this Rest & Recovery Kit is the specially designed ring cover. Its primary function is to ensure the seamless connection of the Oura ring during physically demanding activities, such as weight training and strenuous workouts. This innovative accessory addresses a common concern among users who have found the Oura ring less compatible with barbell training. By shielding the ring from potential damage, scratches and wear during rigorous exercise, the cover serves as a simple solution to a prevalent problem.

Other activations from the Equinox Circle program include an exclusive StockX pop-up event, which is being held at Equinox’s Bond Street location in New York City through the end of October, and a dinner hosted October 26th at Torrisi in NYC where Equinox members can book a table via the Dorsia app.  

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Life Time Posts Strong Revenue, Membership Growth in Q3 https://athletechnews.com/life-time-posts-strong-revenue-membership-growth-in-q3/ Wed, 25 Oct 2023 18:48:02 +0000 https://athletechnews.com/?p=99701 Buoyed by strong numbers, the luxury club operator is on track to become free cash flow positive by 2024 Life Time has reported its Q3 2023 earnings, posting a revenue increase of 17.9% to $585.2 million and a membership increase of 7.6% (55,602) when compared to the prior year’s third quarter.  The amenity-rich luxury lifestyle…

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Buoyed by strong numbers, the luxury club operator is on track to become free cash flow positive by 2024

Life Time has reported its Q3 2023 earnings, posting a revenue increase of 17.9% to $585.2 million and a membership increase of 7.6% (55,602) when compared to the prior year’s third quarter. 

The amenity-rich luxury lifestyle club operator opened six new centers during the third quarter in addition to the ten it opened in the first nine months of the year. In the fourth quarter, Life Time expects to open two new centers. 

“I am very appreciative of our team and the milestones we achieved this quarter,” commented Bahram Akradi, Life Time founder and CEO. “We generated record levels of revenue and Adjusted EBITDA, and our trailing 12-month Adjusted EBITDA surpassed $500 million for the first time in our history. Our investments in programming are working to increase member engagement at our clubs with average member visits up 24 percent versus 2019.”

Free Cash Flow Positive By ’24

Akradi noted that as Life Time looks to next year, the fitness and lifestyle operator expects to be free cash flow positive after all capital investment, including new club growth, by the middle of 2024 — two years earlier than initially anticipated. 

“With expectations for continued Adjusted EBITDA growth and significant asset-light opportunities, we expect to fund our targeted growth in 2024 and beyond with internally generated cash flow. We are well positioned for continued success,” he continued.

New Services & Offerings

One aspect that Life Time has identified as a $50 million dollar opportunity is its new Dynamic Stretching offering, a personalized, one-on-one assisted stretching service provided by certified personal trainers. The program is an expansion of Life Time’s Dynamic Personal Training.

“It helps our trainers, engagement with the customers, it helps the pickleball customers… I mean, it’s just a really great program,” Akradi said. While he’s pleased with the rollout and progress of Dynamic Stretch, Akradi says the “bigger impact” will show up in 2024.

Life Time also continues to expand its boutique-style offering of health, recovery and relaxation services for its members, such as pools, whirlpools, saunas, eucalyptus-scented steam rooms, Hyperice Normatec recovery tools, HydroMassage and CryoLounge+ chairs from WellnessSpace Brands, and Hyperice Hypervolt portable percussion massagers.

The investments in Life Time member experiences have paid off: visits per membership are up approximately 24% through the first nine months of 2023 compared to the first nine months of 2019, Akradi told investors. 

As it looks ahead, Life Time will lean into retail initiatives to offset expected declines in its business. 

“I don’t really like to have any seasonal drops,” Akradi said. “So we’re trying to find ways to add additional sales through programs, not services in the clubs, but sales of apparel and nutritionals, and that rollout has been delayed now to early 2024.”

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Life Time Taps WellnessSpace Brands as Personal Training Recovery Partner https://athletechnews.com/life-time-taps-wellnessspace-brands-as-personal-training-recovery-partner/ Tue, 10 Oct 2023 17:45:02 +0000 https://athletechnews.com/?p=99268 The luxury club operator is on a roll, unleashing a variety of new wellness-centered services for its members Life Time has leaned further into its wellness and recovery ambitions by partnering with WellnessSpace Brands, formerly HydroMassage. The announcement follows Life Time’s new Dynamic 30-day wellness challenge, created to simplify fitness, nutrition and wellness. The deal…

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The luxury club operator is on a roll, unleashing a variety of new wellness-centered services for its members

Life Time has leaned further into its wellness and recovery ambitions by partnering with WellnessSpace Brands, formerly HydroMassage. The announcement follows Life Time’s new Dynamic 30-day wellness challenge, created to simplify fitness, nutrition and wellness.

The deal introduces Life Time Dynamic Personal Training members to WellnessSpace Brands’ recovery and relaxation products such as its HydroMassage heated massage lounge recovery chairs and CryoLounge+ recovery chairs with cold and heat features. Members will also have access to RelaxSpace Wellness Pods, providing a multi-sensory experience for stress reduction.

While WellnessSpace Brands products are currently found in 30 Life Time facilities, the partnership will expand its product footprint into the majority of Life Time locations across North America by the end 2024.

“It’s great to see leaders in the fitness industry like Life Time fully embracing wellness and recovery, and making technology like HydroMassage, CryoLounge+, and RelaxSpace Wellness Pod a key part of the member experience,” Kevin Conaway, president of WellnessSpace Brands, told Athletech News. “We’re proud to be selected as an official recovery partner for Life Time Dynamic Personal Training.”

Life Time’s Dynamic Personal Training sessions currently offer a warm-up, customized coaching and recovery, nutrition, exercise and lifestyle guidance. Wellness Space Brands will support the luxury lifestyle operator’s holistic approach to health as demand for such services surges.

“More and more athletic and fitness clubs have realized that recovery and wellness products aren’t a luxury – they’re a necessity,” said Paul Lunter, WellnessSpace Brands CEO and founder. “Life Time is recognized as the nation’s premier healthy lifestyle brand, and we are excited to be collaborating with them for this partnership.”

WellnessSpace Brands has also been named an official sponsor of the Life Time Miami Marathon on January 28, 2024, and a sponsor of the Life Time Sea Otter Classic cycling festival on April 18-21, 2024.

Life Time is also pushing into assisted stretching, introducing Dynamic Stretching services for its clients. All of its offerings have paid off, with the luxury club operator reporting strong Q2 results and increased membership metrics. 

credit: Life Time

Despite its premium price point, Bahram Akradi, founder and CEO of Life Time, maintains that the brand’s amenity–rich approaches have resulted in a loyal member base, who are happy to pay for a membership in exchange for Life Time’s sense of community and top-class offerings. Impressively, the operator continues to see strong membership growth without marketing, promotions or sales efforts.

“Our strong quarter further validates that all of our strategies are working and contributing to our success,” Akradi told investors earlier this summer. “Our focus has been working on desirability in clubs, and it’s working.”

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Life Time Leans Into Wellness With 30-Day Challenge https://athletechnews.com/life-time-leans-into-wellness-with-30-day-challenge/ Fri, 06 Oct 2023 00:46:04 +0000 https://athletechnews.com/?p=99190 The luxury club operator is engaging members with an exclusive month-long challenge to build six proven wellness habits Life Time has launched a 30-day challenge running through October, designed to inspire healthy living goals and habits while engaging members to complete and track progress to win prizes. It’s the first challenge of its kind for…

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The luxury club operator is engaging members with an exclusive month-long challenge to build six proven wellness habits

Life Time has launched a 30-day challenge running through October, designed to inspire healthy living goals and habits while engaging members to complete and track progress to win prizes.

It’s the first challenge of its kind for the fitness and lifestyle brand, designed to simplify fitness, nutrition and wellness.

“Our Dynamic 30 Challenge takes commitment and discipline, but with our team of expert coaches, online resources and over 7,000 peers challenging themselves, together we can continue creating healthier happier lives for ourselves, our families, and our communities,” said Anika Christ, RD, CPT and senior director of weight loss and nutrition for Life Time.

The name of the challenge, a nod to Life Time’s Dynamic Personal Training and recently introduced Dynamic Stretching services, demonstrates the wellness ecosystem the luxury lifestyle operator is continuing to build for its clientele.

More Than a “Gym”

Unlike others in the fitness and wellness industry, the Life Time brand isn’t looking to exist as just a third space for health enthusiasts. Instead, it’s intersecting housing and health, as seen by its developments in New York, New Jersey and Connecticut. Those looking for a Life Time Living experience can reside in luxury apartments with access to top-notch comforts, such as healthy dining, golf simulators, sundecks and rooftop beach clubs – and have access to Life Time’s signature fitness facilities.

Dynamic 30 Challenge participants will log their daily habits in Life Time’s app, such as eating 30+ grams of protein at each meal, taking a 30-minute walk, drinking 30 ounces of water four times a day, engaging in 30 minutes of Zone 2 cardio and spending 30 seconds on six different stretches.

Life Time’s challenge fully engages participants in the month-long event, providing them with a 30-minute consult with a trainer, a Dynamic 30 handbook, weekly 30-minute workouts, a packet filled with exclusive offerings and a wristband to receive special discounts. 

While Dynamic 30 is currently exclusive to just Life Time members, the company noted on its website that it may offer the program to non-members in the future.

Weekly winners will be selected on October 9, 16, 23 and 30. Participants in the Dynamic 30 Client category who complete 30 days of daily habits and eight training sessions will be entered in the grand prize drawing. Two winners will be selected to receive a Dynamic Personal Training package, a $500 NoBull voucher and a $250 nutritional supplement voucher.

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UK Luxury Gym Third Space Secures $107M To Fuel Growth https://athletechnews.com/uk-luxury-gym-third-space-secures-107m-to-fuel-growth/ Wed, 04 Oct 2023 23:53:38 +0000 https://athletechnews.com/?p=99147 The posh fitness brand is known for its opulence, having attracted high-profile clientele such as Prince Harry, David Beckham and Guy Ritchie Third Space, a London-based luxury fitness lifestyle brand, has received £88.5 million ($107.4 million) to support the growth of its footprint and its team. The posh fitness brand is known for its opulence,…

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The posh fitness brand is known for its opulence, having attracted high-profile clientele such as Prince Harry, David Beckham and Guy Ritchie

Third Space, a London-based luxury fitness lifestyle brand, has received £88.5 million ($107.4 million) to support the growth of its footprint and its team. The posh fitness brand is known for its opulence, having attracted high-profile clientele such as Prince Harry, David Beckham and Guy Ritchie.

Neo bank OakNorth and private investment firm Searchlight Capital Partners are leading the financing for the health club that launched in 2001.

Third Space’s portfolio includes eight clubs across London that are centered around group fitness classes with gym equipment and opportunities for personal training. Depending on the club’s location, some Third Space facilities boast swimming pools, climbing walls, altitude chambers, spas and medical centers.

The health club has reportedly signed a 25-year lease into the Bayswater development in London across three floors. 

Colin Waggett, Third Space’s CEO, noted that the health club is experiencing strong membership demand, with most clubs having to waitlist interested clients. He sees London residents eager to invest in their health and wellness, as indicated by their willingness to wait months for a chance to join Third Space.

“Our business sits at the heart of Londoners’ desire for health and fitness, authentic experiences and luxury service, and Third Space is uniquely positioned to meet these demands,” Waggett said. “We are pleased to have support from both OakNorth and Searchlight, and we look forward to opening more clubs in residential locations to complement our excellent central London sites and enhance member value, as we know that members like to use a club close to home and work.”

While it’s certainly a place to see and be seen, Third Space’s classes are wide-ranging from everything from strength training, sculpting, HIIT and spin. Other sessions satisfy the mind and body, with sound baths, Pilates, and several yoga formats. Boxing and dance are also available at the luxury fitness operator, as are expert nutritionists and personal trainers.

OakNorth’s senior director of debt finance, Deepesh Thakrar, commented on Third Space’s loyal clientele, calling it a “phenomenal brand” backed by the well-recognized KSL Capital.

“Over the past twenty years, Third Space has established itself as a true leader in London’s burgeoning health market,” said Oliver Haarmann, Founding Partner at Searchlight.

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Equinox, StockX Host Month-Long Pop-Up Event in NYC https://athletechnews.com/equinox-stockx-host-month-long-pop-up-event-in-nyc/ Tue, 03 Oct 2023 22:48:27 +0000 https://athletechnews.com/?p=99082 The collab is part of the new Equinox Circle program, which offers members special benefits at the intersection of fitness and culture Equinox and StockX, an e-commerce marketplace for sneakers and clothing, are collaborating for an exclusive pop-up at Equinox’s Bond Street location in New York City through the end of October. A first look…

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The collab is part of the new Equinox Circle program, which offers members special benefits at the intersection of fitness and culture

Equinox and StockX, an e-commerce marketplace for sneakers and clothing, are collaborating for an exclusive pop-up at Equinox’s Bond Street location in New York City through the end of October.

A first look at the pop-up is planned for October 5 at Equinox Bond Street from 6 to 7:15 pm to kick off the Equinox and StockX collaboration. The event will include limited-edition StockX sneakers, apparel and collectibles. Attendees can also try Circuit Breaker, a powerful new Equinox fitness class, from 7:30 to 8:15 pm.

The Equinox members-only event is a concept of Equinox Circle, the luxury lifestyle and fitness company’s program spotlighting elite brands while delivering special access to experiences, events, content and exclusive offers.

This past May, StockX was announced as one of eight brands in the Equinox Circle debut lineup. As a result of the collaboration, Equinox members and hotel guests can access exclusive StockX events, curated products from Equinox Master Trainers and promotions.

“As part of anticipating customer needs, we are thrilled to bring our members access to expertly curated partner offerings,” said Julia Klim, vice president of strategic partnerships and ventures at Equinox. “Our members trust us to bring them the very best and now we’re delivering on 30 years of expertise.”

In addition to StockX, Equinox Circle boasts access to brands including Bezel, Blade, Dorsia, Indagare, Oura, Provenance and Thorne as partners, satisfying tastes ranging from luxury watches, travel, wellness wearables, supplements and healthy food.

The exclusive membership platform is available to club members, Equinox+ subscribers and Equinox employees.

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Life Time Keeps Expanding, Opening First Club in Bay Area https://athletechnews.com/life-time-opens-first-club-in-bay-area/ Fri, 29 Sep 2023 03:24:00 +0000 https://athletechnews.com/?p=98994 Life Time is continuing its cost-to-coast expansion, entering the highly desirable San Francisco market Life Time has opened its seventh location in California, unveiling its first-ever club in the San Francisco Bay Area. The latest luxury athletic country club, Life Time Walnut Creek, is located in the heart of Broadway Plaza, along the main street…

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Life Time is continuing its cost-to-coast expansion, entering the highly desirable San Francisco market

Life Time has opened its seventh location in California, unveiling its first-ever club in the San Francisco Bay Area.

The latest luxury athletic country club, Life Time Walnut Creek, is located in the heart of Broadway Plaza, along the main street of an open-air shopping center. The opening follows Lifetime’s recent launches on the East Coast in Stamford, Connecticut and New York City.

The 76,000-square-foot Walnut Creek facility boasts four levels and the area’s first rooftop beach club, complete with a six-lane lap pool, splash pad for children, whirlpool, cabana-style seating and a LifeCafe poolside bistro.

Life Time’s latest luxury lifestyle club also offers five boutique fitness studios featuring over 100 weekly classes in barre, cycling, high-intensity, Pilates, strength training and yoga. 

Joining the San Francisco market has been a key objective of Life Time, said Parham Javaheri, Life Time’s chief property development officer.

“This is yet another example of Life Time playing a central role as shopping destinations evolve into holistic lifestyle centers with health, wellness, entertainment, shopping and social offerings for the entire community, while delivering on our asset-light growth strategy,” Javaheri said.

It’s also Life Time’s first shopping center-based location in California with real estate investment firm Macerich.

Members will also have access to Life Time’s group and Dynamic Personal Training, Dynamic Stretch, an indoor basketball court, three pickleball courts, a fitness floor with state-of-the-art equipment, a Kids Academy, LifeCafe, a full-service LifeSpa salon and spa, and Life Time’s signature dressing rooms and rejuvenation suites with whirlpools, cold plunge, saunas, steam rooms and complimentary towels and lockers.

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Equinox Beats Racial Discrimination Lawsuit From Fitness Instructor https://athletechnews.com/equinox-beats-racial-discrimination-lawsuit/ Tue, 26 Sep 2023 21:47:22 +0000 https://athletechnews.com/?p=98864 Equinox was ordered to pay over $11 million in May in a separate race and gender discrimination trial, although the verdict was later vacated A New York district court judge has ruled in favor of Equinox in a lawsuit that alleged the fitness operator terminated an employee from her position as a fitness instructor based…

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Equinox was ordered to pay over $11 million in May in a separate race and gender discrimination trial, although the verdict was later vacated

A New York district court judge has ruled in favor of Equinox in a lawsuit that alleged the fitness operator terminated an employee from her position as a fitness instructor based on her race. 

The judge, J. Paul Oetken, found that Equinox terminated the staff member’s employment for violating its workplace nonviolence policy and that the former employee failed to show that the firing was racially motivated.

The former employee, Dawn Parker, alleged she had suffered discrimination and wrongful retaliation under Title VII of the Civil Rights Act of 1964, that she had been subjected to a hostile work environment and that her manager and Equinox human resources director were liable to her personally under New York’s anti-discrimination laws. 

The fitness instructor, who was employed at Equinox’s East 63rd Street location in New York City, taught two fitness classes before remaining at the club to work out until closing time, at which point she “took a chance” at taking a shower after hearing an announcement that the showers were closed.

The plaintiff’s complaint alleged she was “hit with a rigged investigation” and fired after two custodial workers claimed she was violent toward them after they attempted to remove her from a gym shower after hours. The plaintiff denied pushing the custodial workers and claimed she had worked for Equinox for 13 years and was generally highly regarded by her supervisors.

Equinox’s defense was that the employee disobeyed its workplace nonviolence policy.

In a summary judgment opinion, Judge Oetken dismissed the suit, writing that Equinox demonstrated a “legitimate, nondiscriminatory reason — an investigation, presumed to have been conducted in good faith and according to normal procedures” and found that the employee violated Equinox’s workplace nonviolence policy.

Additionally, the judge stated that the plaintiff didn’t provide enough evidence to show Equinox’s investigation was biased.

More Fitness Litigation

The luxury fitness operator is no stranger to lawsuits. Equinox was ordered to pay over $11 million in damages this past May after being found liable in a race and gender discrimination trial brought forth by a fitness professional and former personal training manager, although the verdict was vacated in August, according to a court order.

Before that, an Alameda County Superior Court judge granted preliminary approval on a $36 million global settlement against the fitness operator regarding a class action settlement that applies to over 15,000 Equinox employees who worked in California between April 3, 2015, and December 31, 2022.

According to the lawsuit, Equinox didn’t pay certain personal trainers, group fitness instructors and others for all time worked. Plaintiffs also brought claims against Equinox’s meal and rest breaks policies, wage statements and other wage and hour practices.

Update: A previous version of this story didn’t include information that the $11.2 million jury verdict awarded against Equinox was later vacated by court order.

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