“Most Baby Boomers (99%) will take at least one leisure trip in 2018, with an average of five or more trips expected throughout the year.”
The senior living resident of the future is younger, and they still have a continued desire to travel. Has your senior living company thought about this during your sales process or sales & marketing strategy?
When I look at statistics like 99% of seniors plan on taking 5 or more trips this year, it makes me think of a big red flashing neon sign that says “MISSED OPPORTUNITY!” I say this because I know that the average senior living operator has between 8-20 communities regionally, and the top 20 companies have 50-100 communities or more nationally.
What kind of missed opportunities am I talking about?
~ A sales & marketing opportunity, imagine being able to tell a potential resident (“You can travel to any community in our entire network, year-round”)
~ An opportunity for the residents to engage your brand, and your entire company in a new way (Now that’s just cool!)
~ An opportunity to generate revenue from unoccupied units (That is if revenue is important to your company?)
~ An opportunity to increase occupancy rates through short-term stays (That is if occupancy rates are important to your company?)
~ An opportunity to call yourself an innovative company (Your younger team members and potential team members love innovation!)
If you don’t mind having empty units in your buildings, don’t read any further…
With occupancy rates in the industry hovering around 88%, that means there are 10-15 empty units on average in an independent living community, units that could be occupied and monetized. These empty units could be offered to your current residents in need of lodging for leisure, business or family travel, or as sales incentives for becoming part of your companies family of residents. These units can also be used as employee retention bonuses or for friend and family stays. (this recent blog post details that opportunity. Employee retention)
Companies with communities in Florida, California, Arizona, or South Carolina could easily find every empty unit filled with their own residents or staff members from the Midwest, East Coast, and Canada during the winter months. While communities in the Midwest, East Coast, and Canada, where it is comfortable in the summer months could find themselves at 100% occupancy with residents from areas like Florida and Arizona where it is unbearably hot in the summer.
If you’re ready to start thinking differently about how you market and manage your short-term stay programs, please DROP US A LINE!
Shameless (but ingenious) plug! (Shameless plug )
Simplestays is focused on providing software solutions for organizing short-term and longer-term stays in senior living communities. We believe the resident of the future is expecting travel style technology and services from your company, and that’s what we provide.