Lifetime Fitness 2012 Annual Report Download - page 8

Download and view the complete annual report

Please find page 8 of the 2012 Lifetime Fitness annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 96

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96

2
Our offerings also include our proprietary line of nutritional products and supplements, and our award-winning
magazine, Experience Life®. We also have an Athletic Events division, which offers more than 100 events each
year, including running, cycling and triathlon events from entry-level to ultra-endurance. Additionally, we offer a
portfolio of health assessments to our members at our centers as well as employees at corporate clients, along with
partnerships with health insurance companies, with the goal of further extending the Healthy Way of Life.
Our corporate headquarters are located at 2902 Corporate Place, Chanhassen, Minnesota 55317, and our telephone
number is (952) 947-0000. Our principal website is lifetimefitness.com. The information contained on our websites
is not a part of this annual report.
Our History
Our Chairman, President and Chief Executive Officer, Bahram Akradi, opened the first Life Time Fitness center in
1992 with an unwavering commitment to our members and their experiences with us. From the design of our
centers, to the amenities and services we provide, to the sheer breadth of programming and events we deliver,
everything we do is driven from the member point of view. For example, our company has never required long-term
member contracts, instead preferring to offer month-to-month agreements that provide members flexibility, while
maintaining clear focus on delivering unparalleled programs and value in an effort to earn their business each and
every day.
At Life Time, our mission is clear. We provide an educational, entertaining, friendly and inviting, functional and
innovative experience that meets the health and fitness needs of the entire family. Over the course of two decades,
Life Time has raised the standards in the health and wellness industry while also pioneering the creation of a new
industry we call Healthy Way of Life. Through this, we aim to deliver best-in-class programs that help organizations,
communities and individuals achieve their total health objectives, athletic aspirations and fitness goals by engaging
in their areas of passion. Life Time is well positioned to help them do so by providing the best programs, best people
and best places to deliver exceptional experiences.
We were incorporated in 1990 as a Minnesota corporation under the name FCA, Ltd., and subsequently registered to
use the name of Life Time Fitness in 1992. We then officially changed our corporate name to Life Time Fitness, Inc.
in 1998. In 2004, we completed our initial public offering. Our stock is listed on the New York Stock Exchange
(Ticker: LTM).
Our Competitive Strengths
We offer comprehensive programs and services.
The breadth of our programs allows us to connect and engage members in their areas of passion along with others
who share the same interests. Unlike many traditional health clubs or gyms, which typically offer little more than
rooms with equipment, most Life Time destinations operate 24 hours a day, seven days a week and offer an
expansive selection of premium amenities and services, comprehensive programming with dedicated spaces, a large
team of certified professionals, service and operations employees, and hundreds of pieces of state-of-the-art
cardiovascular and resistance equipment and free-weights.
Our team of member-focused employees — trained through our specifically designed programs and/or certifications
— is committed to providing an environment that is clean, educational and entertaining, friendly and inviting, and
functional and innovative.
We offer a value proposition that encourages membership loyalty.
The broad range of amenities, programs and services we offer exceeds that of most other health and fitness center
alternatives available to consumers. We offer different types of membership plans for individuals, couples and
families. Our typical monthly membership dues range from $40 to $140 per month for an individual membership
and from $80 to $270 per month for a couple or family membership. Our memberships include the primary
member’s children under the age of 12 at a modest per child monthly cost. We provide the majority of our members
with a variety of services with their membership, including group fitness classes and fitness assessments, towel and