Life Time stock plummets as company spends more on premium fitness experience ...Middle East

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Life Time stock plummets as company spends more on premium fitness experience
Jeff Zwiefel, President and Chief Operating Officer, Life Time Group Holdings, Inc. at the NYSE, October 7, 2021 Source: NYSE Life Time Group shares plummeted 15% Wednesday after the company’s third-quarter results revealed higher spending to boost the premium member experience. The cost of running its fitness centers, including new and ramping locations, rose 8.2% year over year during the quarter to $319.4 million, the company said. Life Time CEO Bahram Akradi said the investments — including new pickleball courts and personal training programs — have helped to drive member engagement at its clubs, with average member visits up 24% since 2019. The company has a total of 170 center

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