Penny Pritzker, chairwoman of Classic Residence by Hyatt

Execution is becoming an increasingly important aspect of running a successful senior living business, according to Penny Pritzker, chairwoman and founder of Classic Residence by Hyatt.

Speaking in Chicago Thursday at the 19th annual National Investment Center for the Seniors Housing and Care Industry (NIC) conference, Pritzker added that consumers are paying greater attention to value.

“Value is the new ‘must-have,'” said Pritzker, who is also a member of President Obama’s Economic Recovery Advisory Board.

Pritzker added that future growth will be driven by better demographics and an increase in dual-income families. The show continues through today.