Capital Senior Living Announces September 2021 Occupancy

Rhea-AI Summary

Capital Senior Living Corporation (CSU) reported a September 2021 average occupancy of 81.4%, marking a 20 basis point increase from August and up 610 basis points from the pandemic low of 75.3% in February 2021. This represents the seventh consecutive month of occupancy growth. However, the pace of growth has slowed due to capital constraints and expense management affecting room turnovers. Leading indicators like leads and sales activities increased sequentially in Q3.

Positive

• Average occupancy increase to 81.4% in September 2021.
• 610 basis points recovery from pandemic low occupancy.
• Seventh consecutive month of occupancy improvement.
• Sequential growth in leads, tours, and overall sales activities in Q3.

Negative

• Slower growth in occupancy compared to prior months.
• Capital constraints and expense management delaying room turns.

Marks seventh month of consecutive growth

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 September 2021 occupancy.

Capital Senior Living September 2021 Occupancy Chart (Graphic: Business Wire)

September average occupancy was 81.4%, an increase of 20 basis points from August and 610 basis points from the pandemic low average monthly occupancy of 75.3% in February 2021.

While September marks the seventh consecutive month of occupancy improvement for the Company, the growth has slowed compared to prior months. The deceleration was caused in part by capital constraints and expense management activities which delayed room turns for potential resident tours and move-ins.

Leading indicators, such as leads, tours and overall sales activities, continued to increase sequentially in Q3 compared to Q2.

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.

Learn more on the Capital Senior Living website or connect with the Company on Facebook, Twitter or LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211014005333/en/

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

 

Source: Capital Senior Living Corporation

FAQ

What is Capital Senior Living's occupancy rate for September 2021?

The average occupancy rate for Capital Senior Living in September 2021 was 81.4%.

How much has Capital Senior Living's occupancy improved since February 2021?

Capital Senior Living's occupancy has improved by 610 basis points from a low of 75.3% in February 2021.

How many consecutive months has Capital Senior Living seen growth in occupancy?

Capital Senior Living has seen occupancy growth for seven consecutive months.

What factors contributed to the slowdown in occupancy growth for Capital Senior Living?

The slowdown in occupancy growth was attributed to capital constraints and expense management delaying room turnovers.

What trends are observed in sales activities for Capital Senior Living in Q3?

Leading indicators such as leads, tours, and overall sales activities increased sequentially in Q3 compared to Q2.