Capital Senior Living (CSU) Announces May 2021 Occupancy
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Capital Senior Living Corporation (the “Company” or “Capital Senior Living”) (NYSE: CSU), a leading owner-operator of senior living communities and services announced its May occupancy of 78.2%, which is an increase of 294 basis points from the pandemic low average monthly occupancy of 75.3% in February of 2021. Approximately 53% of its 60 owned communities and all but two of its managed communities are above pre-pandemic February 2020 occupancy levels.
“The positive occupancy trends are very encouraging as we enter the growth-focused phase of our strategic plan,” said Kimberly S. Lody, President and CEO. “We attribute this increase in occupancy to several factors – the safety protocols we implemented at the onset of the pandemic, our well-executed vaccination program that has allowed us to ease restrictions across much of our portfolio and the introduction of new resident-centric programming.”
With nearly all residents now fully vaccinated, Capital Senior Living has lifted its company-wide mask mandate for fully vaccinated residents and staff, in accordance with CDC guidance. Communities continue to adhere to all state and local regulations while determining the best practices for their specific level of care and resident population. Additionally, the Company has been able to modify other COVID-19 protocols, permitting less restrictive visitation and screening, full in-person tours, communal dining, group activities and events.
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