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Brookdale Senior Living continues push toward pre-pandemic occupancy recovery

Brookdale Senior Living continues push toward pre-pandemic occupancy recovery
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(Credit: Vertigo3d / Getty Images)



Continuing its push to recover pre-pandemic occupancy, Brookdale Senior Living announced Tuesday that average weighted occupancy for June increased 140 basis points compared with June 2023, to 78.2%.

June weighted average occupancy grew 10 basis points from May, whereas June month-end occupancy increased 20 basis points. The latter result supported a second-quarter weighted average sequential occupancy increase of 20 basis points compared with the first quarter, according to an occupancy report released by the Brentwood, TN-hased company, the country’s largest senior living company. Second-quarter average occupancy increased 160 basis points compared with the same quarter of 2023.

Brookdale said that both second-quarter and June average occupancy figures reflected the company’s continued outperformance compared with pre-pandemic normal seasonality, a continuing trend from May’s occupancy report.

During a first-quarter earnings call, President and CEO Lucinda “Cindy” Baier said that Brookdale entered 2024 with a “clear vision and an intense focus” on recovering pre-pandemic occupancy and margins. Those efforts already were showing “meaningful positive outcomes” across the company’s key strategic priorities, Baier said at the time.

Brookdale operated and managed 649 communities in 41 states as of June 30; it owns some of those communities and leases others from the owners.

The company topped Argentum’s 2024 list of largest senior living providers, landing at No. 1 for the fifth consecutive year as well as topping separate Argentum lists of the largest US assisted living providers and largest memory care providers. The 2023 ASHA 50 list from the American Seniors Housing Association ranked Brookdale as the largest operator and third-largest owner of US senior living communities.

occupancy chart
Source: Brookdale Senior Living



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