Brookdale Community Occupancy, Revenue Up in Q4 2010

Brookdale Senior Living Inc. (NYSE: BKD) released preliminary community performance information last week that showed its average unit occupancy for the fourth quarter of 2010 increased 10 basis points to 87.5% from the third quarter of 2010 and increased 90 basis points from the fourth quarter of 2009.  The data showed revenue growth of 3.9%, expense growth of 1.8% and facility operating income growth of 8.0% for the fourth quarter of 2010 versus the fourth quarter of 2009.

“We continue to see solid, positive trends in the fundamentals of our business.  We produced the fifth consecutive quarter of occupancy increases in a market that still has its demand challenges.  Our fourth quarter 2010 same community revenue per unit for the senior housing business, excluding the results of our ancillary services programs, grew approximately 2.6% over the fourth quarter of 2009.  This continues the improving trend of same community revenue per unit growth that we have seen throughout 2010, where the revenue per unit growth rate in our senior housing business was 0.8% in the second quarter and 1.5% in the third quarter.  Also, in the senior housing business, we did a good job of managing costs with a quarter over quarter expense growth of just 0.7%, which drove a facility operating income growth of 7.0%,” said Bill Sheriff, Brookdale’s CEO.

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