Annual list points to continued expansion by senior living companies of all sizes
BY ANGELA HICKMAN
The senior living industry has continued to evolve and expand since Senior Living Executive began publishing the annual largest providers list two decades ago. In that time, companies have been bought and sold, consolidated, reorganized, re- branded, expanded, contracted, and folded al- together. This year’s largest provider, Brookdale, became, by far, the largest player in the industry when it merged with Emeritus in 2014. Today, Brookdale reports nearly 100,000 senior living units in its buildings, more than double the units of its nearest competitor, Holiday Retirement, which largely serves independent living residents. The next five senior living providers are fairly similar in size—from nearly 20,000 to 27,000 units. Overall, the 2017 list of the 115 largest senior living providers represents nearly 550,000
* Basis point is one one-hundredth of 1 percent.
senior living units, including assisted living, inde- pendent living, and memory care. From the No. 1 provider to the No. 115 provider, seniors are served by a wide variety of senior living models. Occupancy has remained fairly stable for senior
living, now a mature industry, for some time. The occupancy rate for senior housing for the nation’s largest 31 metropolitan areas was 88.8 percent in the second quarter of 2017, down 50 basis points* from the first quarter, according to the National Investment Center for Seniors Housing & Care (NIC) MAP Data Service. “This placed occupan- cy 190 basis points above its cyclical low of 86.9 percent during the first quarter of 2010 and 140 basis points below its most recent high of 90.2 percent in the fourth quarter of 2014,” explains Beth Burnham Mace, chief economist at NIC.
ISSUE 5 2017 /
ARGENTUM.ORG 7
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