Occupancy Growth
Occupancy for the quarter achieved a weighted average of 81.8% and 82.3% on a same community basis, the highest since the pandemic. There was a 38% improvement in communities with occupancy below 70% in just 2 quarters.
Adjusted EBITDA Increase
Adjusted EBITDA in Q3 increased 20% over the prior year and is up 23% year-to-date. Brookdale also generated positive adjusted free cash flow amounting to $21.8 million, a 57% increase compared to the prior year.
Raised Financial Guidance
Full year 2025 adjusted EBITDA guidance was raised from $445 million-$455 million to $455 million-$460 million, with expectations to come above the midpoint of their RevPAR range of 5.25% to 6% year-over-year growth.
Portfolio Optimization
Brookdale plans to exit a total of 55 leased assets by year-end, with 43 already completed. This is expected to improve occupancy, RevPAR, adjusted EBITDA, and adjusted free cash flow.
SWAT-Team Approach Success
SWAT-team efforts have reduced the number of communities with occupancy below 70% from 143 in Q1 to 89 in Q3, a 38% improvement.