August brought the highest number of move-ins in the past five years, fueling 22 consecutive months of year-over-year weighted occupancy growth for Brookdale Senior Living, according to an August occupancy report from the company.
The Brentwood, TN-based senior living operator, the country’s largest, reported Tuesday that it had achieved more than 2,200 move-ins last month across its communities. August average occupancy increased 50 basis points, to 77.6%, compared with July.
Supported by a 120-basis-point occupancy increase over August 2022, August represented 22 consecutive months of year-over-year weighted average occupancy for Brookdale. August month-end occupancy surpassed 79%, a new high since the start of the COVID-19 pandemic recovery in March 2021.
During a second-quarter earnings call last month, Brookdale President and CEO Lucinda “Cindy” Baier said that the company increased occupancy each month, returning to an occupancy level greater than that at the end of 2022.
During the earnings call, Baier said that she was confident that the company would remain on the path of occupancy growth into the future, “capturing an organic growth opportunity that has more potential for positive emomentum than at any other point in the past decade.”
Bookdale operated and managed 672 communities in 41 states as of June 30, with the ability to serve more than 60,000 residents. It is the largest operator and third largest owner of senior living communities, according to the 2023 ASHA 50 list from the American Seniors Housing Association. Brookdale also topped Argenum’s 2022 list of largest providers.
The company had 265 communities recognized in US News & World Report Best Senior Living program for 2023.
