The outlook for the not-for-profit continuing care retirement community sector remains stable for 2019, Fitch Ratings says.
“The sector continues to benefit from favorable demographic trends and healthy residential real estate markets that are driving strong demand for its services,” according to “2019 Outlook: U.S. Not-for-Profit Continuing Care Retirement Communities.” “General sector-wide financial performance is supported by solid occupancy levels across most of the care continuum, steady monthly service fee increases and good cash flow that is sustained by consistent net entrance fee receipts.”
Independent living unit occupancy is especially healthy, according to Paul Rizzo, director and CCRC sector leader for Fitch Ratings.
Operators continue to face competition for workers, particularly for nurses but also for midlevel professionals and some nonclinical positions, according to the report.
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