Making a remark about a workout fiend "living at the gym" used to be a joke. Now, it's becoming a real option, as upscale gym brand Life Time plans to launch Life Time Living residences in 2020 in Miami, Las Vegas, and Dallas.
Of course, all residents of the company's properties will have access to its in-house gyms, as well as other Life Time Fitness locations when traveling. The company is also mindful of which eateries go into their complexes or are located nearby, so residents will have plenty of healthy options within walking distance.
Life Time has already expanded from only operating athletic clubs to managing fitness-oriented co-working spaces, so getting into full-on real estate seems like a logical move, especially since competitor Equinox recently opened its first hotel.
As the wellness movement gains momentum, it's smart for fitness-focused companies to broaden their appeal and become fully fledged lifestyle businesses. Doing so means they can capitalize on more than just one segment of the wellness pie.
Speaking of lifestyle, New Zealand is making progress on improving the wellness of its residents. The progressive country is among the first to consider "well-being" as a measure of its citizens' success, rather than the traditional "gross domestic product" measure. Its initiatives will likely set a standard for countries looking to think outside of the box on economics.
Whether you're a company or a country, making wellness a priority is, we think, a solid decision.
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