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Brookdale reports uptick in February 2024 occupancy

EditorAhmed Abdulazez Abdulkadir
Published 03/08/2024, 07:52 PM
© Reuters.

NASHVILLE - Brookdale (NYSE:BKD) Senior Living Inc. (NYSE: BKD), a leading operator of senior living communities in the United States, has reported an increase in its consolidated occupancy rates for February 2024. The company noted a year-over-year weighted average occupancy increase of 160 basis points, reaching 77.9% this year. This marks the twenty-eighth consecutive month of year-over-year occupancy growth for Brookdale.

The company also observed a slight seasonal decrease in occupancy compared to the fourth quarter of 2023, with a 40 basis point drop in the first quarter-to-date 2024. Despite this, Brookdale anticipates its first-quarter results will fall within the top half of its previously provided guidance ranges for Revenue per Available Room (RevPAR) and Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA).

Brookdale operates a network of independent living, assisted living, memory care, and continuing care retirement communities across the country. As of December 31, 2023, the company managed 652 communities in 41 states, with the capacity to serve around 59,000 residents. Its mission is to enrich the lives of its residents through a blend of healthcare, hospitality, and real estate services.

The information presented in this article is based on a press release statement from Brookdale Senior Living Inc.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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