Lifetime Fitness 2004 Annual Report Download - page 10

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Continue to deliver strong growth and performance
Delivering on our growth plans
Open as of 2004: 39
Planned 2005 openings: 6
By applying and building on our
three key principles: Give members
the experience and value they desire;
offer four-in-one centers that appeal
to a broad market; and follow a
disciplined business model — Life Time
Fitness has established a strong foundation
for continued growth. Our strategies for achieving
that growth are:
New center growth: Open six new current-model
centers in 2005, and seven in 2006.
Membership ramp: Grow membership in existing
and new centers to reach our targeted goals.
In-center revenue growth: Increase the quantity and
usage of convenient in-center products and services,
such as personal training, LifeSpa and LifeCafe services,
and member activities like swimming lessons and
summer camps.
The many advantages enjoyed by Life Time Fitness are
bolstered by several key trends, including rising health
care costs and increased awareness of fitness benefits,
both of which are driving an increase in health club
memberships. The U.S. membership-to-population
ratio doubled over the past decade, according to the
International Health, Racquet and Sportsclub
Association. That ratio is expected to keep rising,
driven largely by aging Baby Boomers and an increase
in memberships being subsidized by insurance
companies and corporations, in support of a
healthier, more active population.
With our strong foundation in place and market
dynamics in our favor, Life Time Fitness is well
positioned to lead and succeed for the foreseeable future.
Arizona
2 locations
Texas
7 locations
2 opening 2005
Virginia
2 locations
Maryland
1 opening 2005
Minnesota
14 locations
1 opening 2005
Michigan
5 locations
1 opening 2005
Illinois
7 locations
1 opening 2005
Indiana
1 location
Ohio
1 location