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Q3 Senior Living Outlook: Providers Confront ‘Long Covid’ of Lower Margins, NOI

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The senior living industry is undoubtedly in a better place in 2022 as operators continue to grow occupancy. But at the start of the third quarter of this year, many are still grappling with the pandemic’s lingering effects.

Occupancy is on the rise across the industry, and many senior living operators have reported seeing sales leads at or above pre-pandemic totals. Meanwhile, there is a sense of optimism and hope that the industry is moving into a new era; one in which Covid cases can be mitigated and therefore not pose a significant challenge to operations.

But that growth in occupancy has come with a tradeoff of higher labor expenses. And while many operators have had success raising resident rates this year — and many plan to do so next year — that alone wasn’t enough to forestall a widespread hit to margins and NOI across the industry.

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The post Q3 Senior Living Outlook: Providers Confront ‘Long Covid’ of Lower Margins, NOI appeared first on Senior Housing News.

Source: For the full article please visit Senior Housing News

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