−Removed: We operate distinctive, resort-like athletic destinations in both affluent suburban and urban locations centered around major metropolitan areas in the United States and Canada.
+Added: We operate distinctive, resort-like athletic country club destinations in both affluent suburban and urban locations centered around major metropolitan areas in the United States and Canada.
As of December 31, 2022, we operated 161 centers in 29 states and one Canadian province, 57 of which were owned (including ground leases) and 104 of which were leased.
−Removed: During 2021, we opened six new centers and closed four small under-performing centers, each of which was subject to a lease that we decided to let expire rather than renew.
−Removed: Our luxurio us athletic centers total more than 15,000,000 square feet in the aggregate and measure approximately 100,000 square feet on average.
−Removed: They offer expansive fitness floors, spacious locker rooms, group fitness studios, indoor and outdoor pools and bistros, indoor and outdoor tennis courts, basketball courts, LifeSpa personal care services, LifeCafe healthy restaurants and child care and Kids Academy learning spaces.
+Added: During 2022, we opened 10 new centers.
+Added: Our luxurio us athletic country clubs total approximately 16 million square feet in the aggregate and measure approximately 99,000 square feet on average.
+Added: They offer expansive fitness floors, spacious locker rooms, group fitness studios, indoor and outdoor pools and bistros, indoor and outdoor tennis courts, pickleball courts, basketball courts, LifeSpa personal care services, LifeCafe healthy restaurants and child care and Kids Academy learning spaces.
Excluding renewal options, the terms of our leased centers, including ground leases, expire at various dates from January 2024 through December 2049.
−Removed: Including renewal options, only four of our 88 leases expire in the next 15 years.
+Added: Including renewal options, only seven of our 104 leases expire in the next 15 years.
The majority of our leases have renewal options and a few grant us the right to purchase the property.
+Added: Of our 57 owned properties, 24 are pledged as collateral under our senior secured credit facility as well as our secured notes, and 13 are pledged as collateral under our mortgage notes.
Our corporate headquarters, located in Chanhassen, Minnesota next to our Chanhassen center, is comprised of two 105,000 square foot, free-standing, three-story buildings that we own.
−Removed: Table of Content s
The table below contains information about our centers as of December 31, 2022:
39 unchanged sentences
The center square footage figures exclude areas used for tennis courts, outdoor swimming pools, outdoor play areas and stand-alone Life Time Work, Life Time Sport and Life Time Swim locations.
−Removed: In addition to the centers listed in the table above, as of December 31, 2021, we had 12 centers under construction and $340 million of capital expenditures invested in future center development, including our 12 centers under construction.
−Removed: We also operate four facilities that we classify as satellite locations.
−Removed: These include tennis-only facilities that we own in Oakdale, Minnesota, Centennial, Colorado and Plano, Texas, along with a leased small center in Austin, Texas.
−Removed: Table of Content s
+Added: In addition to the centers listed in the table above, as of December 31, 2022, we had incurred $456 million of capital expenditures invested in future center development, including 12 centers under construction.
+Added: We also operate six facilities that we classify as satellite locations.
+Added: These include tennis-only facilities that we own in Oakdale, Minnesota;
+Added: Centennial, Colorado;
+Added: and Plano, Texas;
+Added: along with leased small centers in Austin, Texas;
+Added: Battery Park, New York;
+Added: and Hackensack, New Jersey.
Other Property Data :
−Removed: As of December 31,
2022 2021 2020
1 unchanged sentence
Open 1 to 12 months 10 6 3
+Added: Open 13 to 48 months 18 23 27
Open 48+ months 133 122 119
7 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.