Unlocking the Future: Key Insights from the SR Team at NIC Fall Conference

Shep Roylance, Jack Osteen, and George Bingham recently returned from a rewarding experience at the NIC Fall Conference in Chicago, where they engaged with operators, investors, and industry luminaries to delve into the most pressing industry trends.
Shep Roylance had this to say about the conference: “Over the course of two days, we had the opportunity to engage in 40 productive meetings, allowing us to forge new connections and strengthen existing partnerships. To top it all off, the Sherman & Roylance team concluded our NIC conference with an exciting Chicago Blackhawks hockey game, providing a memorable and enjoyable end to the event.” 
In addition to an exciting hockey game, these were some of our key takeaways and areas of focus
  • Baby Boomers as Catalysts
    The power of Baby Boomers, aged 58 to 77, is steering the transformation of the senior living industry. Furthermore, their demand for personalized experiences is redefining the landscape.
  • Embracing Risk and Innovation
    To meet the ever-evolving needs of the next generation, the senior living industry is championing risk and innovation. Rigid, one-size-fits-all approaches are giving way to adaptability and flexibility.
  • Consumer-Centric Philosophy
    The integration of a cooperative business model, fueled by direct consumer feedback, is reshaping senior living communities. This is introducing a more consumer-centric domain.
  • Variety for All
    The diverse range of consumer preferences calls for tailored solutions, replacing uniformity. It's a call to provide an array of choices in food, entertainment, and experiences. In addition, this is an opportunity for developers and operators alike to shift their focus and innovate to meet the demands of the active adult. 
  • Education and Communication
    Operators play a pivotal role in educating consumers about the different types of senior housing and the associated benefits. Transparent communication stands as the cornerstone.
As we reflect on our experience at the NIC Fall Conference, we’re excited about the possibilities that lie ahead. As Shep reflected, “The conference brought together an exceptional group of individuals, including owner-operators, investors, and finance companies, making it the best gathering of its kind in the nation”. Consequently, innovation was a big topic of discussion over the week, with the role of AI and other advanced technologies undoubtedly playing a role in the future of senior housing development. Stay tuned for more insights from the SR team and don’t hesitate to reach out if you’d like to see our portfolio or have questions about investing in senior living.