Ever heard of senior housing tourists? No, they’re not busloads of elderly travelers crisscrossing the country to visit assisted living communities. They’re not mature sightseers either, snapping photos of the latest amenity spaces. Instead, senior housing tourists are how Kai Hsiao describes newbie investors, developers, and operators in the senior housing industry, many of whom have failed to appreciate the healthcare aspects of the business.
The pandemic has not only affected operators and their ability to care for their residents but has also required equity and debt partners to revisit how they look at revenues, expenses and returns. In the latest NIC Leadership Huddle event, hundreds of senior housing and care leaders gathered virtually to hear from industry capital providers. The discussion focused on questions such as: Have capital providers altered their views on underwriting metrics, LTVs, recourse, and rates? Have relief funds provided through governmental programs exasperated or helped expense models? And how will COVID impact the structuring of capital on a go-forward basis?
As the pandemic eases, seniors housing and care operators are looking ahead. What lessons have been learned over the last 15 months to bolster consumer confidence? What strategies will boost occupancy?
NIC is convening thousands of seniors housing and skilled nursing capital providers, operators, and sector stakeholders for the first in-person NIC event since the onset of COVID-19. The 2021 NIC Fall Conference will deliver an exceptional attendee experience which attendees of NIC conferences have come to expect – but is incorporating a few changes to adapt to the demands of a world still battling a pandemic.