Brookdale Reports December 2024 Occupancy

Rhea-AI Summary

Brookdale Senior Living (NYSE: BKD) has reported improved occupancy metrics for December 2024. The company achieved a 100 basis points year-over-year increase in weighted average occupancy, rising from 78.3% in 2023 to 79.3% in 2024.

The fourth quarter 2024 showed strong performance with a 100 basis points increase compared to the prior year quarter, and a 50 basis points sequential increase from Q3, exceeding normal pre-pandemic seasonality. Move-in volume for Q4 2024 was particularly robust, surpassing both the prior year and pre-pandemic average by 8%.

Brookdale operates 647 communities across 41 states, with capacity to serve approximately 58,000 residents through its independent living, assisted living, memory care, and continuing care retirement communities.

Positive

• Weighted average occupancy increased 100 basis points YoY to 79.3%
• Q4 2024 move-in volume exceeded pre-pandemic average by 8%
• Q4 2024 sequential occupancy growth of 50 basis points exceeded normal seasonality

Negative

• Overall occupancy remains below 80% despite improvements

NASHVILLE, Tenn., Jan. 9, 2025 /PRNewswire/ -- Brookdale Senior Living Inc. (NYSE: BKD) reported today its consolidated occupancy for December 2024.

December 2024 Observations:

• Supported by favorable move-in and move-out levels, December weighted average occupancy increased 100 basis points year-over-year, from 78.3% in 2023 to 79.3% in 2024.
• Fourth quarter 2024 weighted average occupancy also increased 100 basis points compared to the prior year quarter.
• Sequentially, fourth quarter 2024 weighted average occupancy increased 50 basis points compared to the third quarter, exceeding normal pre-pandemic seasonality for this period.
• Fourth quarter 2024 move-in volume surpassed the prior year and exceeded the pre-pandemic average for this period by 8%.

About Brookdale Senior Living 
Brookdale Senior Living Inc. is the nation's premier operator of senior living communities. The Company is committed to its mission of enriching the lives of the people it serves with compassion, respect, excellence, and integrity. The Company, through its affiliates, operates independent living, assisted living, memory care, and continuing care retirement communities. Through its comprehensive network, Brookdale helps to provide seniors with care, connection, and services in an environment that feels like home. The Company's expertise in healthcare, hospitality, and real estate provides residents with opportunities to improve wellness, pursue passions, make new friends, and stay connected with loved ones. Brookdale, through its affiliates, operates and manages 647 communities in 41 states as of December 31, 2024, with the ability to serve approximately 58,000 residents. Brookdale's stock trades on the New York Stock Exchange under the ticker symbol BKD. For more information, visit brookdale.com or connect with Brookdale on Facebook or YouTube.

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SOURCE Brookdale Senior Living Inc.

FAQ

What was Brookdale's (BKD) occupancy rate in December 2024?

Brookdale's weighted average occupancy rate in December 2024 was 79.3%, representing a 100 basis points increase from 78.3% in December 2023.

How did Brookdale's (BKD) Q4 2024 move-in volume compare to pre-pandemic levels?

Brookdale's Q4 2024 move-in volume exceeded the pre-pandemic average by 8% for this period.

How many senior living communities does Brookdale (BKD) operate as of December 2024?

As of December 31, 2024, Brookdale operates 647 communities across 41 states, with the capacity to serve approximately 58,000 residents.

What was Brookdale's (BKD) quarter-over-quarter occupancy growth in Q4 2024?

Brookdale's Q4 2024 weighted average occupancy increased 50 basis points compared to Q3 2024, exceeding normal pre-pandemic seasonality.