Senior living operators have for the last few years been laser-focused on generating more revenue to re-elongate margins compressed during the pandemic, and on that front operators have made some progress. But for all the revenue operators have won back through occupancy gains and rate increases, margins have in many cases not returned to pre-pandemic […]
This year is shaping up to be a boom for Three Pillars Senior Living Communities, and the remainder of 2024 is looking good for the single-site community. That’s according to Mark Strautman, president and CEO of the Dousman, Wisconsin-based nonprofit, who said the changes stem from a strategic plan that began in 2017 that aimed […]
Catholic Health Initiative (CHI) Living Communities continues on its recovery journey, as the organization looks to reshape the longstanding senior living model. CHI Living Communities CEO Prentice Lipsey said the organization has spent the last 12 months normalizing operations from the turbulence of the Covid-19 pandemic and focusing on regaining historical occupancy figures. “In 2023, […]
The transformation of Discovery Senior Living in recent years has included rapid growth and the launch of various operating companies. With the creation of the Discovery Management Group (DMG) and a new credit facility from Comvest Credit Partners, the company is almost completely reorganized and ready to begin the next chapter, CEO Richard Hutchinson told […]
The senior living industry is in a state of flux in 2024 as operators look to stick the landing on their pandemic recovery, all while growing for the future. Doing both at the same time is hard. On the one hand, average occupancy rose to 85.6% in the first quarter of 2024, and is on […]
This story is part of your SHN+ subscription Northbridge Companies is continuing to build upon and tweak the company’s affordable senior living model, with an eye toward taking it farther north, according to CEO Jim Coughlin. So far this year for Burlington, Mass.-based provider has seen improvements in margin growth and continues to grow top-line […]
U.S. News has released its third “Best Senior Living” list, with companies including Brookdale Senior Living (NYSE: BKD), LCS and Brightview Senior Living near the top of the stack. . Of the more than 3,500 communities that were surveyed, 1,703 were recognized as “best” in one or more of the available categories, which include best […]
A Place for Mom CEO Larry Kutscher is stepping back from his role, with President Tatyana Zlotsky set to fill his shoes as the company’s top leader. With the move, Kutscher is transitioning to the role of chairman of the company’s board of directors. The company’s changes, effective May 2, are a part of a […]
By Amy Stulick Skilled nursing beds have contributed to operational stress at continuing care retirement communities (CCRCs) this year, according to a new report from Fitch Ratings. Fitch recorded eased labor challenges as well among skilled nursing providers as part of its “exposure draft” document that proposed revising rating criteria for CCRCs. Such campuses continue to […]
Presbyterian Homes and Services is examining potential new markets for future growth as its recovery journey continues into this year. Presbyterian Homes and Services is making strides in its recovery journey as occupancy improves while staffing issues remain the biggest challenge for the nonprofit senior living operator. Also known as PHS, the organization is based […]
