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12 Oaks Senior Living is maintaining its momentum after a successful 2023, with President Greg Puklicz aiming to continue the growth trend in 2024. The company saw an increase in occupancy by 16 points, reaching an average of 80% across its 38 communities. Revenue per available room (RevPAR) also rose by 10.4% in 2023, driven by rate increases.
The transition of several Enlivant properties mid-year contributed significantly to this growth, aligning with 12 Oaks’ strategic expansion plan. The company’s success is attributed to its “high touch” model of management, where regional vice presidents specialize in overseeing smaller groups of properties, enhancing market knowledge and operational efficiency.
Looking ahead, 12 Oaks plans to focus on improving net operating income, maintaining company culture, and enhancing resident and employee satisfaction. The company is also investing in staff development programs and new technologies, such as electronic medical records and CarePredict, to streamline care processes and improve resident response times.
As 12 Oaks continues to grow its portfolio in Texas and Oklahoma, the company is shifting its business plan towards CapEx initiatives and operational improvements. With a focus on increasing occupancy rates and decreasing reliance on agency staffing, 12 Oaks aims to maximize revenue and address industry challenges to ensure continued success.
