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As of December 31, 2024, we operated 179 centers in 31 states and one Canadian province, 57 of which were owned (including ground leases) and 122 of which were leased.
−Removed: During 2023, we opened 11 new centers.
−Removed: Our luxurio us athletic country clubs total approximately 17 million square feet in the aggregate and measure approximately 98,000 square feet on average.
−Removed: Depending on the size and location, 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.
−Removed: Excluding renewal options, the terms of our leased centers, including ground leases, expire at various dates from October 2024 through December 2054.
+Added: During 2024, we opened eight new centers.
+Added: Our luxurio us athletic country clubs total over 17 million of indoor square feet and approximately seven million of outdoor square feet in the aggregate and measure approximately 99,000 square feet on average.
+Added: Depending on the size and location, they offer expansive fitness floors with top-of-the-line equipment, spacious locker rooms, group fitness studios and spaces, indoor and outdoor pools and bistros, indoor and outdoor tennis courts, indoor and outdoor pickleball courts, basketball courts, LifeSpa personal care services, LifeCafe healthy restaurants and child care and Kids Academy learning spaces.
+Added: Excluding renewal options, the terms of our leased centers, including ground leases, expire at various dates from August 2025 through December 2054.
Including renewal options, only nine of our 122 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.
−Removed: Of our 58 owned properties, 24 are pledged as collateral under our Credit Facilities as well as our secured notes, and 13 are pledged as collateral under our mortgage notes.
+Added: Of our 57 owned properties, 24 are pledged as collateral under our Credit Facilities as well as our secured notes, and eight 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.
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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, 2023, we had seven new centers under construction, with $241 million of growth capital expenditures already invested into these new centers that have yet to open.
−Removed: We also operate six facilities that we classify as satellite locations.
+Added: In addition to the centers listed in the table above, as of December 31, 2024, we had 12 new centers under construction, with significant growth capital expenditures already invested into these new centers that have yet to open.
+Added: We also operate seven facilities that we classify as satellite locations.
These include tennis-only facilities that we own in Oakdale, Minnesota;
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and Plano, Texas;
+Added: a pickleball-only facility that we own in Chanhassen, Minnesota;
along with leased small centers in Austin, Texas;
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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.