Senior living’s premier event energizes and motivates enthusiastic attendees.
At a time when the senior living industry faces rapid advancements and shifting market dynamics, the 2024 NIC Fall Conference delivered three days of strategic networking, timely high-profile speakers, and educational opportunities.
Taking place just weeks before the 2024 election and after a long-awaited interest rate cut, the conference offered attendees broad perspectives from top-tier political, economic, and industry experts. The well-attended educational sessions reflected the conference theme: Navigating the Crossroads: Insights for Strategic Choices.
“This year’s conference was designed to help industry stakeholders navigate key decision points,” said NIC President and CEO Ray Braun. “The conference provided practical insights for making strategic choices while creating lasting connections and innovative idea exchanges.”
Recognized as the industry’s annual flagship event, the 2024 NIC Fall Conference was held September 23-25 at the Marriott Marquis, Washington, D.C. Almost 3,000 people participated in the event.
The conference featured 11 main stage sessions offering timely insights on emerging trends and critical issues for the sector, including the state of the capital markets, the evolving active adult and middle market segments, and a roadmap for the acquisition and deployment of cutting-edge technology. Attendees dove into the details during Innovation Labs—interactive, workshop-style sessions that provided actionable strategies to be implemented back at the office.
Highly recognized speakers delivered compelling keynote addresses to a full ballroom.
NBC’s Chief Political Analyst Chuck Todd was featured in a discussion of likely policy and regulatory changes in the aftermath of the 2024 election. He was joined on the main stage by Mike Leavitt, former Utah governor and Secretary of Health and Human Services. While the pair declined to predict a winner of the presidential race, they agreed that the branches of government would probably remain divided.
A timely economic outlook was presented by Diane Swonk, chief economist at KPMG and globally recognized advisor to policy makers. She methodically guided attendees through the metrics that will impact the senior living industry as the Federal Reserve adjusts its policies. Bottom line: Swonk expects another interest rate cut after the election and additional cuts in 2025.
Amid continuing workforce challenges, several sessions focused on employee retention. Pete Stavros, founder of Ownership Works and a partner at private equity firm KKR discussed his mission to advocate for employee ownership of business. At a separate session, “Happy Teams, Healthy Returns,” panelists highlighted resident and employee engagement programs that boost profits.
Other educational sessions—also focused on key industry issues—were well attended and well received.
A panel of stakeholders in the growing active adult segment shared key lessons from the first wave of new development and how the product is likely to evolve in response to consumer demand.
NIC Co-Founder and Strategic Advisor Bob Kramer introduced the session on the opportunity for middle market senior housing. Recognizing the huge need for housing and services to support middle-income seniors, Kramer said, “Our industry has to be part of the solution.” The panelists provided examples of successful middle market business models.
A session on technology tackled the puzzling questions on how to evaluate and deploy the best solutions. Innovative approaches were detailed as well as what’s ahead, including the role of AI in operations. “AI will eventually become ubiquitous,” said Arick Morton, CEO of NIC MAP Vision.
Other conference highlights include:
- A signature session on the capital markets addressed the recent interest rate cut and implications for the industry including debt financing, transaction volumes and valuations. Panelists agreed that the credit logjam is starting to ease.
- NIC Head of Research & Analytics Lisa McCracken led a panel of experts on the investment outlook for senior living as demand from aging baby boomers begins to outstrip the supply of inventory. Panelist Dianne Munevar, of NORC at the University of Chicago, previewed new research demonstrating the value of senior housing, specifically, the potential for senior housing operators to impact the overall cost of care for older adults.
- The new 7th edition of the NIC Investment Guide was introduced at the conference. The Guide is the most comprehensive review of senior living and the investment opportunities in the sector. The 7th edition provides insights based on data into 2024 and now includes detail on the active adult segment.
Building Connections and Expertise
C-suite and executive decision makers comprised 75% of attendees, with an even mix of operators, developers, and capital providers represented, supporting conversations to advance NIC’s mission to promote housing access and choice for older adults.
Attendees enjoyed multiple daily, formal and informal, networking opportunities, including a Women’s Networking Meet-Up bringing together several hundred women who exchanged ideas and made connections.
NIC Board Chair Susan Barlow of Blue Moon Capital Partners kicked off the Women’s Meet-Up, introducing guest speaker Lauren Miller Rogen, a film producer and the wife of comedian Seth Rogen. The couple has produced a highly anticipated documentary, Taking Care. The film follows the course of Lauren’s mother’s early onset Alzheimer’s disease and the family’s struggle to cope with the situation.
“It was a nightmare. We didn’t know what to do,” said Lauren. “Then we realized we had an opportunity to share our story to help others.” An exclusive preview of the film was shared with all conference attendees during a main stage session the next day.
A skilled nursing bootcamp was held on site during the conference with a record-high number of participants. Participants analyzed a case study on whether to buy, sell or hold a nursing home property. The bootcamp is part of the NIC Academy which offers programs for senior living and care professionals. The Certified Senior Housing Investment Professional (CSHIP) program includes specialized courses on how to underwrite senior housing properties.
Mark your calendar! Join us at the 2025 NIC Spring Conference, March 5-7, 2025 in San Diego, CA.