Capital Senior Living Announces September 2021 Occupancy
Capital Senior Living Corporation (the “Company” or “Capital Senior Living”) (NYSE: CSU), a leading owner-operator of senior living communities and services announced its September 2021 occupancy.
September average occupancy was 81.4%, an increase of 20 basis points from August and 610 basis points from the pandemic low average monthly occupancy of 75.3% in February 2021.
While September marks the seventh consecutive month of occupancy improvement for the Company, the growth has slowed compared to prior months. The deceleration was caused in part by capital constraints and expense management activities which delayed room turns for potential resident tours and move-ins.
Leading indicators, such as leads, tours and overall sales activities, continued to increase sequentially in Q3 compared to Q2.