Your note strikes a cord as we (Finance Committee) receive substantial monthly and YTD data from our accounting department, including financial results and occupancy rates in IL, comprehensive care, assisted living and memory care. While I've only been a resident for 2 and 1/2 years, I've gotten very involved in Blakehurst's finances (Towson, MD) due to my professional career. Historically we have maintained between a 92-94% combined occupancy rate, while our principal competitors have between an 85-95% occupancy.
Our marketing department is headed by a very senior, high energy, highly productive woman who works the local market better than competitors in my mind. Her wait list is full and we turn over a substantial number of units annually. She knows our competitors very well.
I believe your board and managment is accepting of less than good results. While you have referenced one source for information, I offer these investment banking firms: Ziegler, Sims, KeyBanc-Cane Brothers as potential sources of data. Of them Ziegler has numerous annual industry studies that you should be able to access through internet searching. Also, are your annual financial statments audited? If yes, hopefully the firm has CCRC industry experience, whcih can be useful to the board and residents to compare and contrast performance.
I'd also add that such low occupancy you quote would limit cash flow needed to be plowed back into the facility to keep modern and appealing to potential new residents, it seems to me. Our primary competitors have raised over $35 million+ each to expand and refresh their facilities in the past 3 years. We are undertaking a substantial renovation soon, too.
You're on the right path, you just need more teammates!
Regards, Garland