Pent-Up Demand Remains Elusive But Senior Living Occupancy Begins to Recover – Senior Housing News
James Kruml for Senior Housing News
Coming into 2021, many senior living providers hoped that the pandemic had created substantial pent-up demand, which would lead to a rapid occupancy rebound once vaccinations reached critical mass.
Over the last two weeks, Q1 financial reports showed positive occupancy trends, but the census gains might not be due to pent-up demand — a topic that received a lot of attention on the earnings call for Ventas (NYSE: VTR).
Executives with the Chicago-based real estate investment trust (REIT) noted that April sales leads in the senior housing operating portfolio (SHOP) were at 104% of 2019 levels. That’s not reflective of massive pent-up demand, in the view of EVP of Senior Housing Justin Hutchens.
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Tim Mullaney
If he’s not in the newsroom, Tim likes to be on the tennis court or traveling to a new destination. Recent highlights include Sri Lanka and Iceland.
