Lifetime Fitness 2007 Annual Report Download - page 9

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PART I
Item 1. Business.
Company Overview
We operate distinctive and large, multi-use sports and athletic, professional fitness, family recreation and resort and
spa centers under the LIFE TIME FITNESS® brand. We design, develop and operate our own centers and we focus
on providing our members and customers with products and services at a high quality and compelling value in the
areas of education, exercise and nutrition.
As of February 29, 2008, we operated 71 centers and one satellite center primarily in residential locations across 16
states. Most Life Time Fitness centers offer 24-hour access to an expansive selection of premium amenities and
services, including more than 400 pieces of state-of-the-art cardio, resistance and free-weight training equipment.
These amenities include multiple group fitness studios with free classes, a team of certified personal trainers and
programming, educational seminars and fitness assessments, a wide selection of adult and youth programs and
activities, athletic events, rock climbing walls, multiple basketball courts, squash and/or racquetball courts, Pilates
and yoga studios, dry saunas, complimentary towel and locker service, large indoor and outdoor aquatics centers
with multiple, two-story waterslides, two large zero-depth recreation pools, a lap pool and children's interactive play
area, two whirlpools, an outdoor bistro, a large child center featuring a play maze, computer center, separate infant
playroom, and numerous children's activities, a separate family locker room, LifeSpa, which delivers a full range of
hair, nail and skin care services, and therapeutic massage, and LifeCafe, which offers the best in nutritional food and
beverage services.
We believe our centers provide a desirable and unique experience for our members, resulting in a high number of
memberships per center, which we closely manage to optimize the member experience. Since 1992, we have refined
our center size and design with the opening of each new center. Of our 71 centers, we consider 62 to be of our large
format design. Among these 62 centers, we consider 39 to be of our current model design. Although the size and
design of our centers may vary, our business strategy and operating processes remain consistent across all of our
centers. Our current model centers generally target 8,500 to 11,500 memberships by offering, on average, 110,000
square feet of multi-use, sports and athletic, professional fitness, family recreation and resort and spa amenities,
programs and services. The first of the 39 current model centers opened in 2000.
Our principal executive offices are located at 2902 Corporate Place, Chanhassen, Minnesota 55317, and our
telephone number is [phone]. Our Web site is located at www.lifetimefitness.com. The information
contained on our Web site is not a part of this annual report.
Our Competitive Strengths
We offer comprehensive and convenient programs and services.
Our large format centers offer a vast array of high quality programs and services in a resort-like setting. Unlike
traditional health clubs, these centers typically offer large indoor and outdoor family recreation pools, climbing
walls and basketball and racquet/squash courts, in addition to approximately 400 pieces of cardiovascular, free
weight and resistance training equipment and an extensive offering of health and fitness classes. Our national team
of member-focused employees, each trained through our specifically designed program of classes, is committed to
providing an environment that is clean, educational and entertaining, friendly and inviting, and functional and
innovative. Our large format centers generally include luxurious reception areas and locker rooms, child center
facilities with spacious play areas, spas offering massage and beauty services and cafes with healthy product
offerings throughout the day.