Capital Senior Living Announces May 2021 Occupancy

Rhea-AI Summary

Capital Senior Living Corporation (NYSE: CSU) reported an increase in May occupancy to 78.2%, up 294 basis points from the pandemic low of 75.3% in February 2021. Over 53% of its 60 owned communities, as well as nearly all managed communities, are now performing above pre-pandemic levels from February 2020. The rise in occupancy is credited to effective safety protocols, a successful vaccination program, and new resident-centric initiatives. The company has lifted its mask mandate for vaccinated residents and staff, complying with CDC guidelines while adapting to state regulations.

Positive

• Occupancy increased to 78.2%, up from 75.3% during the pandemic low.
• 53% of owned communities exceed pre-pandemic occupancy levels.
• Successful vaccination program enabled lifting of mask mandates.
• New resident-centric programming contributing to positive trends.

Negative

• None.

Capital Senior Living Corporation (the “Company” or “Capital Senior Living”) (NYSE: CSU), a leading owner-operator of senior living communities and services announced its May occupancy of 78.2%, which is an increase of 294 basis points from the pandemic low average monthly occupancy of 75.3% in February of 2021. Approximately 53% of its 60 owned communities and all but two of its managed communities are above pre-pandemic February 2020 occupancy levels.

“The positive occupancy trends are very encouraging as we enter the growth-focused phase of our strategic plan,” said Kimberly S. Lody, President and CEO. “We attribute this increase in occupancy to several factors – the safety protocols we implemented at the onset of the pandemic, our well-executed vaccination program that has allowed us to ease restrictions across much of our portfolio and the introduction of new resident-centric programming.”

With nearly all residents now fully vaccinated, Capital Senior Living has lifted its company-wide mask mandate for fully vaccinated residents and staff, in accordance with CDC guidance. Communities continue to adhere to all state and local regulations while determining the best practices for their specific level of care and resident population. Additionally, the Company has been able to modify other COVID-19 protocols, permitting less restrictive visitation and screening, full in-person tours, communal dining, group activities and events.

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 or Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210621005787/en/