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Top 10 Senior Housing News Stories Of 2024
To say the least, 2024 was a year of change for the senior housing industry.
Some of that change came through high-profile transactions that occurred throughout the year. Several of our most-read stories of the year focused on those deals.
There were also plenty of personnel changes throughout the year as well, and stories related to these moves also were among the most popular with readers.
Looking ahead, the industry could be set to “thrive in ‘25” with continuing demographic growth and increased demand, all while new inventory growth is slowing to some of the lowest levels seen in years. But the 10 most-read stories also highlight that the year will be one of continued adaptation and innovation, as the industry seeks to reach and serve a new generation.
Some of the stories below are accessible as part of our SHN+ offering, and we’re like to extend a special thanks to members of the SHN+ community for their continued support throughout the year.
As always, we hope you find this list informative and helpful as you take stock of 2024 and what lies ahead in 2025. We wish all of our readers happy holidays. Thanks for reading.
1. [Updated] Welltower Transitioning 89 Holiday by Atria Communities to 6 Operators
Publish date: June 3, 2024
Key quote: “The transitions will create strong geographic density with best-in-class regional operating partners across the U.S. that have a proven track record in markets where the properties are located.” – Welltower business update.
Further reading:
Welltower Reloads ‘Growth Bazooka,’ Prepares for Wider Rollout of Management Platform With Cogir
Welltower Builds on Record-Setting $6.1B Investment Year With More Growth Planned
Atria to Acquire Holiday Retirement as Welltower Buys 86 Properties for $1.6B
2. ‘Myriad of Benefits’: Brookdale Senior Living to Buy 41 Leased Communities for $610M
Publish date: Sept. 30, 2024
Key quote: “Through ownership, we have flexibility to modify the portfolio based upon what is strategically the right decision for Brookdale and our shareholders. This flexibility doesn’t exist when communities are locked within a leased structure.” – Brookdale President and CEO Cindy Baier
Further reading:
Inside Brookdale’s $610M Deal and Operators’ Quests for More Ownership
What Pivots from Brookdale, Sonida Senior Living Say About Future of Third-Party Referrals
Pent-Up Distress Clouds the Dawning ‘Golden Age of Senior Living’
3. Atria Senior Living Names New CEO in Planned Leadership Transition
Publish date: March 1, 2024
Key quote: “The full recovery of our industry is top priority for everyone, and it’s top priority for us, as well. Getting back to pre-pandemic and fully recovered occupancy and NOI levels is what we’re very focused on.” – Atria CEO Holly Belter-Chesser
Further reading:
Atria CEO Belter-Chesser: Senior Living Buying Experience Has Changed, Innovations Needed
‘Act Very Differently:’ Atria Senior Living, Sonida, Vi Retool Staffing for the Future
Brookdale, Atria, LCS Again Top Argentum Largest Providers List in 2024
4: Retirement Unlimited President Sullivan Steps Down
Publish date: Sept. 5, 2024
Key quote: “Sullivan resigned from her position at RUI to pursue other opportunities.” – RUI spokesperson
Further reading:
Changemakers: Doris-Ellie Sullivan, President, Retirement Unlimited
Scaling Up: Inside the Strategies of Senior Living’s Fastest-Growing Operators
Welltower Readies Self-Managed Operating Platform, With Goal of Exceeding Pre-Pandemic Margins
5. Senior Living Operators Pivot from Resident Rates to Ancillary Services to Boost Revenue
Publish date: May 13, 2024
Key quote: “The last three years of rate increases aren’t sustainable.” – Juniper Communities CFO Chuck Hastings
Further reading:
Senior Living Operators Manage ‘Balancing Act’ of Rising Acuity, Falling Margins
Inside the New Senior Living P&L: How Insurance, Staffing Are Changing Expenses
Inside the Art vs. Science of Setting Senior Living Rental Rates
6. Senior Living Operators Level Up Sales to Beat ‘Alarming’ Trends in Conversions
Publish date: Feb. 12, 2024
Key quote: “There are people who need help and information, and oftentimes, we don’t have the same urgency that our prospects have. There’s a need, and we can be the help that they may need.” – Legend Senior Living Senior Vice President of Sales and Marketing Christy Van Der Westhuizen
Further reading:
Belmont Village, Sodalis, Trustwell Evolve Sales Tactics to Improve Lease-Up
How Discovery, Acts, Atria Are Improving Senior Living Sales for 2024
Nearly Half of Senior Living Operators Expect to Grow Marketing Budgets This Year
7. Fast Food Giant Taco Bell Launching ‘Early Retirement Community’ Experience
Publish date: July 10, 2024
Key quote: “The Cantinas early retirement community, just like our brand, represents a place where all generations can come together, regardless of age, to Live their Mas however they want.” – Taylor Montgomery, U.S. Chief Marketing Officer of Taco Bell
Further reading:
More U.S. Expansion On Tap for Latitude Margaritaville After Brand Goes International
New Disney Storyliving Community With 55+ Housing Planned in North Carolina
Publish date: Feb. 22, 2024
Key quote: “We’re just at the early stage of that occupancy band where margin starts to grow … we’re at an inflection point,” Justin Hutchens, EVP of senior housing and chief investment officer of Ventas
Further reading:
Brookdale CEO Sees More HealthPlus Growth Ahead, With ‘Robust’ Revenue Opportunity
What the Senate Hearing on Assisted Living Foretells About Sector’s Future
Ventas Accelerates Senior Housing Growth With Nearly $1.7B Invested in 2024
9, Welltower to Buy Affinity Living Active Adult Portfolio for $969M
Publish date: Feb. 13, 2024
Key quote: “These communities provide thoughtful amenities and targeted social programming for empty nesters and active adults at moderate price points.” – Welltower CEO Shankh Mitra
Further reading:
Why Welltower’s $1B Affinity Deal is Another Milestone for the Active Adult Market
Welltower CEO: We’ve ‘Never Felt Better’ About Growth, Pipeline Remains ‘Robust’
5 Senior Living Operators to Watch in 2024
10. Washington Post Analysis Links A Place for Mom Reviews, Awards with Care Citations
Publish date: May 16, 2024
Key quote: “Our national team of senior living advisors help to simplify a complex process, speaking with over 700K families every year. We are dedicated to our mission, providing access to transparent information, tools, and resources to help families make informed and confident senior care decisions.” – A Place for Mom spokesperson
Further reading:
A Place for Mom Cuts Customer Success Team, Pivoting to ‘More Direct’ Community Strategy
A Place for Mom Names New CEO, Current Leader Kutscher to Chair Board
3 Lessons from the Washington Post’s Senior Living Takedown
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