As the senior living industry enters a post-Covid environment, rising expenses are hitting bottom lines and raising doubts about how quickly operators can recover financially.
Labor was an ongoing concern, pre-pandemic. Now, hiring employees is the top challenge, and providers are competing against other industries for entry-level and skilled talent, face higher minimum wage floors, and continued enhanced unemployment benefits.
Sales and marketing costs are rising as communities reopen and compete for new residents, and are expected to continue an upward trend throughout the remainder of 2021.
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