Senior living stabilized occupancy is on track for a gain for the fifth consecutive quarter, according to the National Investment Center for Seniors Housing & Care intra-quarterly snapshot released last week. Meanwhile, individual operators such as Brookdale Senior Living and Life Care Services are celebrating positive occupancy numbers.
Industry-wide three-month rolling data from NIC MAP Vision show that recovery paths and timelines continue to be uneven across markets, with some NIC MAP primary markets recovering relatively quickly while others continue to lag.
Stabilized occupancy rose 0.3 percentage points to 83.7% in August, according to the data. Occupancy for properties that primarily are independent living was 85.7%, with occupancy for majority assisted living properties at 81.4%. According to NIC, occupancy for assisted living continues to recover faster compared with independent living.
At Brentwood, TN-based Brookdale, sequential weighted average occupancy increased by 50 basis points (0.5%), and month-end occupancy increased by 80 basis points (0.8%), the company announced Friday in a monthly report. Additionally, more than 2,200 residents moved in during August, representing the highest number of move-ins in a single over the past four years.
Weighted average occupancy at Brookdale was 76.4% in August, marking six consecutive months of increases, 10 consecutive months of year-over-year weighted average occupancy growth and a bump of 700 basis points (7%) since March 2021, the company reported.
Month-end occupancy in August was 77.9%, Brookdale said, marking increases every month this year.
At Des Moines, IA-based LCS, the company last week honored 17 of its communities for achieving 100% occupancy across one or more levels of care and services at some point between Jan. 1 and June 30.
Ten communities reached the milestone in independent living occupancy, three were recognized for assisted living occupancy, two were honored for skilled nursing occupancy, one was recognized for independent living and assisted living occupancy, and one was recognized for assisted living and skilled nursing occupancy.
An additional 43 communities received recognition for reaching occupancy greater than 95%, with many communities reaching this achievement across multiple levels of care and services.
“Reaching 95%+ and 100% occupancy is a testament to the dedication each of these communities make to live our SalesFIRST culture and create paths for seniors to move into our communities,” LCS Executive Vice President and Chief Operating Officer Chris Bird stated in a press release.
