This May there was a slight boost in census from April, and a 9% increase when compared to May of last year. The average number of days to convert tours to move-ins has averaged 65 days over the last three months, but other indicators such as leads, tours, move-ins and outreach activity are not so positive. Move-outs in the last three months have averaged over 10% higher than in March, April and May of 2021 and are higher than in the previous three months starting in December of 2021. Cash receipts have continued to decline and are at their lowest level of the last six months and showing no gains over the same time last year. Room revenues have also been slowly dropping and last month was the first time in the last six months to show a decline when compared to room revenues in May 2021. Resident acuity in 2022 has increased, as residents with assessments was up more than 25% and assessment fee revenues were over 26% higher than in May of last year. Monthly fee revenues continued their upward trend for 2022 with significantly more revenues in the year over year comparison. Service fee revenues in May also outperformed 2021 by almost 34% but failed to rebound to the levels reported in the first quarter of 2022. Given these trends, it would make sense to act now to increase lead volume with more lead follow up and nurturing, and cultivation of referral sources.
