The information is not NHP specific, but for two operator’s of senior housing facilities.

From the data they reported I guess 4Q08 was not that bad after all, what do you think?


Brookdale:

- Average occupancy for the fourth quarter was 89.7%, flat with the third quarter of 2008 and down from 90.6% for the fourth quarter of 2007. Average occupancy for the full year was 89.6% compared to 90.7% for the full year of 2007.

- Average monthly revenue per unit was $3,830 in the fourth quarter, an increase of 5.2% over the fourth quarter of 2007, and $3,791 for the full year of 2008, a 6.0% increase over the same period of 2007.

- Revenue for the fourth quarter was $486.9 million, up 3.7% from the fourth quarter of 2007. Revenue for the full year 2008 was $1.9 billion, a 4.8% increase from $1.8 billion for the full year 2007.


Sunrise:

The same-community average occupancy rate for the fourth quarter of 2008 was 89.9 percent, which remained flat with occupancy rates of 89.9 percent for the fourth quarter of 2007 and the third quarter of 2008.

Average daily rate (ADR) for the same-community portfolio for the fourth quarter of 2008 increased 1.7 percent to $158.26 as compared to $155.60 for the fourth quarter of 2007.