Post by
newcoin on Nov 10, 2022 3:39pm
Chartwell Q3 - Similar Issues to SIA
"We continue to focus on occupancy and cash flow recovery. Various operational, sales and marketing strategies are in place to support our residences' leadership teams and staff in their efforts to drive faster recovery in 2023 and beyond," commented Vlad Volodarski, CEO. "We are also building on the strength of our management platform to become an even more agile and scalable organization to support the future growth of our portfolio, through stronger empowerment of our managers and front-line employees, streamlining our corporate support and deploying specialized teams to execute complex operating and capital allocation strategies. Such strategies may include service model changes, capital upgrades, changes in use or dispositions of properties identified as non-core. We believe that these strategies, combined with pent-up demand for retirement accommodation, driven by Canada's increasingly ageing population, slower new construction starts, and the persistent shortage of long term care beds will support sustainable long-term value for all our stakeholders."