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The impending wave of baby boomers further complicates a senior living landscape where penetration rates hover around just 10%. To fight back, operators are attracting new customers by taking a play from the hospitality industry: the multi-brand strategy.
Health care costs for seniors are soaring, health levels are plateauing and experts across the care continuum are searching for fixes to both. The answer could be found by going back to the basics in medical care. And senior housing might hold the key.
The demand by seniors to not be called “seniors” is not one of vanity. It is one of realism. With life expectancy rising and health levels improving, seniors are demanding intergenerational lifestyles and living arrangements, and operators are getting creative with their execution.
As the smart tech revolution grows, senior living operators are evolving beyond merely using smart technology on a device-by-device basis and pivoting instead to full smart units and communities. These smart dwellings are helping senior housing operators deliver their value proposition by enhancing resident lifestyle, safety and health.
With big spending on nutrition, fitness, health care and other areas, wellness is a $3.7 trillion industry. What senior housing residents want in wellness is personal fulfillment that addresses their physical, emotional, mental, social and spiritual wellbeing.
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Source: Senior Housing News