Maplewood Senior Living Achieves 95% Occupancy Rate Across Portfolio

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Dec 14, 2023, 10:53 ET

With company-wide resilience in swift bounce-back to pre-pandemic occupancy, Maplewood exceeds industry average by over 10%

WESTPORT, Conn., Dec. 14, 2023 /PRNewswire/ -- Maplewood Senior Living, a leading national provider of senior living residences with 16 communities across the Northeast and Ohio, is proud to announce it has reached a 95% average occupancy rate across its stabilized portfolio, with multiple communities currently at 100%.

The company's newest luxury property, Inspīr, located on the Upper East Side of New York City, is experiencing great lease-up momentum as well. "We continue to be excited by the strong occupancy numbers at Inspīr and are thrilled that the balance of the Maplewood Senior Living portfolio has achieved a 95% occupancy rate," said Shane Herlet, Chief Operating Officer, Maplewood Senior Living.

Maplewood's impressive numbers beat out the industry average by over 10 percentage points. According to the latest quarterly occupancy report from the National Investment Center for Seniors Housing & Care and NIC MAP Vision, the industry average stands at 84.4% occupancy in the third quarter of 2023. Additionally, Maplewood's RevPOR and NOI margins rank among the highest in the industry.

"The entire industry has made significant strides from the pandemic lows of 77.8% and we are pleased to be a part of that collective rebound," continues Herlet. "But our numbers are noteworthy in that we have been able to outperform the market. We are extremely grateful to our associates for helping us to achieve these results. This level of performance could not be achieved without all of the talented and dedicated team members across our communities"

The senior living provider attributes their exceptional occupancy rates and rapid return to pre-pandemic numbers to their "people-first" investment and commitment to technological innovation. Maplewood's person-centered process involves dedicated Community Directors who champion resident interests, curating opportunities that empower residents to lead fulfilling lives within the communities. Their engagement strategies are hailed as best-in-class, fostering a vibrant community where residents actively participate and connect.

Another factor contributing to Maplewood's resilience in the post-COVID market are their world-class healthcare partnerships and tech innovations. From working with leading institutions, such as Cleveland Clinic in a telehealth collaboration which piloted virtual geriatric consultations via AI-enabled Temi robots, to introducing cutting-edge fall detection and prevention technologies into residents' rooms, Maplewood continues to stand at the forefront of healthcare innovation.

Maplewood's success story extends far beyond its elevated occupancy levels. High customer satisfaction has resulted in the majority of Maplewood communities being ranked as 'Best of Senior Living' by top senior care referral services, outperforming competition in nearly every market. Their growth continues on an upwards trajectory, propelled by the support of their financial partner, Omega, and an unwavering dedication to innovation, resident engagement, and collaborative partnerships that continue to redefine excellence in senior living.

To learn more about Maplewood Senior Living or to schedule a tour, please call 203-557-4777 or visit http://www.maplewoodseniorliving.com.

About Maplewood Senior Living
Maplewood Senior Living is known for its upscale senior living residences, offering a broad range of premier services, amenities and care to its residents. Based in Westport, CT, Maplewood Senior Living operates 16 senior living communities in Connecticut, Massachusetts, New Jersey, New York and Ohio. There is an Upper East Side location in Manhattan, NY, within the company's newest brand, Inspīr. This new, senior living offering was launched to provide a luxurious option for seniors looking to join a residential community in major metropolitan areas. A second Inspīr location is under development in Washington D.C.'s vibrant Dupont Circle neighborhood. For more information, please call 203-557-4777 or visit http://www.maplewoodseniorliving.com.

Media Contact
Anna de Graaf
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SOURCE Maplewood Senior Living