Life Time Highlights DEI, Environmental Initiatives in Inaugural ESG Report
The athletic country club operator is focused on the three P’s: People, Planet and Principles
Life Time released its inaugural Environmental, Social and Governance (ESG) report, demonstrating the luxury athletic club operator’s commitment to sustainable and socially responsible business practices.
The mid-year release of the report comes after the fitness operator reported a strong start to 2023, with a 30.2% revenue increase in Q1 compared to 2022.
Life Time discussed its increased net center memberships in the first quarter on an April earnings call with investors, indicating that the lifestyle operator expects its membership increase to last through the summer. The company also raised its full-year Adjusted EBITDA guidance to $470 to $490 million in response to its solid momentum.
In its ESG report, the fitness and health club’s “Way of Life” accomplishments were highlighted across categories including Healthy People, Healthy Planet and Healthy Principles, showcasing Life Time’s inclusive approach, reducing greenhouse gas, water and single-use plastics and its dedication to sound business practices.
“Life Time has always moved with a necessary boldness. It’s how we transformed our industry and defined an entirely new ‘Healthy Way of Life’ business,” said Bahram Akradi, founder, chairman and CEO of Life Time. “From day one, we have been fully dedicated to our mission to help our members live healthier, happier lives, and advance the common good within the communities that are home to our clubs, as well as the world at large. I’m proud of our accomplishments and ongoing commitments to lead with care and compassion, and to prioritize health as we continue to make a positive impact on people and the planet.”
The report highlights the following initiatives by Life Time:
Healthy People:
- An advanced approach to DEI with the implementation of an Inclusion Council with over 400 team members.
- Multiple affinity groups, including W.E.L.L – Women Empowering Leadership at Life Time, S.P.A.R.K – Sexuality Pride Allyship Respect Kinship, and C.O.V.E.R.T – Community Outreach, Veterans, Engagement, Relationships, and Transition.
- The launch of Arora, an active social and educational community for mature health and lifestyle enthusiasts, ages 55-plus.
- Celebration of the Life Time Foundation’s success, which was created over a decade ago to provide more than six million healthy meals to students and empower 25,000-plus children with access to physical activity.
Healthy Planet:
- Celebrating the selection of materials, mechanicals, fixtures and technology to ensure Life Time facilities operate efficiently, as well as water and waste reduction/diversion initiatives.
- Named the top energy goal achiever in the U.S. Department of Energy Better Buildings Challenge in 2022, achieving 38% energy reduction.
- Removal of single-use plastic water bottles for sale in LifeCafes and replacing them with recyclable aluminum water bottles, leading to the elimination of more than one million plastic bottles by 2022.
- Committed to reducing greenhouse gas emissions intensity by 50% over the next ten years.
Healthy Principles:
- A comprehensive Code of Business Conduct and Ethics, which guides Life Time’s board of directors, senior leaders and team members in conducting business with integrity
- A diverse board of directors
Life Time recently announced it would continue its expansion in NYC, bringing seven indoor pickleball courts, lounge seating and a bar to Penn 1, located in a desirable, high-traffic area adjacent to Madison Square Garden. A membership waitlist has been created for the new NYC Life Time location.
The luxury lifestyle and fitness company also signed men’s activewear brand Ten Thousand for a three-year sponsorship deal to become the exclusive men’s training brand of Life Time’s Dynamic Personal Training team and classes such as Studio, GTX, Alpha and Ultra Fit.
Ten Thousand will sponsor Life Time events and launch exclusive products as part of the deal.
