Capital Senior Living Announces August 2021 Occupancy

Rhea-AI Summary

Capital Senior Living Corporation (NYSE: CSU) reports a significant occupancy increase, reaching 81.2% in August 2021, a rise of 590 basis points from the pandemic low of 75.3% in February 2021. This marks six consecutive months of growth, attributed to various factors:

• High vaccination rates among residents
• Active engagement with local referral partners
• Positive sales indicators, including leads and tours
• Implementation of resident-centric programs like Magnolia Trails

Positive

• Occupancy increased to 81.2% in August 2021, marking a 590 basis point recovery from pandemic lows.
• Six consecutive months of occupancy growth demonstrate a positive trend in the business.
• Strong leading indicators including increased leads, tours, and sales activities suggest robust market engagement.

Negative

• None.

An increase of 590 basis points from the pandemic low

DALLAS--(BUSINESS WIRE)-- Capital Senior Living Corporation (the “Company” or “Capital Senior Living”) (NYSE: CSU), a leading owner-operator of senior living communities and services announced its August 2021 occupancy.

Capital Senior Living August 2021 Occupancy (Photo: Business Wire)

August marks the sixth month of consecutive growth for the Company with occupancy at 81.2%, an increase of 590 basis points from the pandemic low average monthly occupancy of 75.3% in February of 2021.

Several factors continue to contribute to increased occupancy:

• Nearly all residents are fully vaccinated, coupled with open visitation and communal activities at all communities

• Increased virtual and in-person engagement with local referral partners to help identify appropriate resident candidates

• Strong leading indicators such as leads, tours and overall sales activities

• The continued implementation of differentiated resident-centric programs, such as the Magnolia Trails memory care program

About Capital Senior Living

Dallas-based Capital Senior Living Corporation is one of the nation’s leading operators of independent living, assisted living and memory care communities for senior adults. The Company operates 75 communities that are home to nearly 7,000 residents across 18 states providing compassionate, resident-centric services and care and engaging programming. The Company offers seniors the freedom and opportunity to successfully, comfortably and happily age in place. For more information, visit http://www.capitalsenior.com or connect with the Company on Facebook, Twitter or LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210914006141/en/

Kimberly Lody (972) 308-8323, klody@capitalsenior.com

Source: Capital Senior Living Corporation

FAQ

What was Capital Senior Living's occupancy rate in August 2021?

Capital Senior Living's occupancy rate reached 81.2% in August 2021.

How much did occupancy increase from the pandemic low for CSU?

Occupancy increased by 590 basis points from a pandemic low of 75.3%.

How many consecutive months has CSU seen occupancy growth?

Capital Senior Living has experienced six consecutive months of occupancy growth.

What factors contributed to the occupancy increase for CSU?

Factors include high vaccination rates among residents, active engagement with referral partners, and strong sales indicators.