Brentwood, TN-based Brookdale Senior Living announced Tuesday that February was the company’s fourth consecutive month of positive year-over-year weighted average occupancy growth since the pandemic began.
Last month, the company said, Brookdale achieved positive net move-ins and move-outs for the first time since 2014, and weighted average occupancy held relatively flat (–10 basis points) during the month. Weighted average occupancy has grown 390 basis points (3.9%) from the start of the turnaround in February 2021, the company reported.
The announcement continues a positive trend for the country’s largest senior living operator. According to a January update, Brookdale experienced in December the first positive year-over-year quarterly weighted average occupancy growth for the first time since the pandemic began. In fact, the company entered 2022 having experienced 10 months of sequential weighted average occupancy growth.
During the company’s fourth-quarter and full-year 2021 earnings call last month, Baier described 2021 as “intense” but saying that Brookdale is “solidly on the path to recovery.”
Highlights from the end of 2021:
- Fourth-quarter revenue per available unit increased approximately 4% compared with the prior-year quarter, including an 80-basis-point (0.8%) increase in occupancy.
- Fourth-quarter consolidated weighted average occupancy grew 100 basis points (1%) sequentially.
The company’s three priorities for growth in 2022, Baier said last month, are to attract, engage, develop and retain employees; get every available room in service at the best profitable rates; and earn resident and family trust and satisfaction by providing value, high-quality care and personalized service.
