Vi Marks 25 Years As a National Leader in Senior Living
Aug 14, 2012, 03:00 ET
CHICAGO, Aug. 14, 2012 /PRNewswire/ -- Vi – the developer, owner and operator of older adult living communities – is celebrating its 25th anniversary in August. Vi operates 10 continuing care retirement communities (CCRCs) nationwide.
"We are extremely proud of the accomplishments we have achieved during the past 25 years," said Randy Richardson, President of Vi. "In an era of uncertainty, our employees and residents can take pride in the fact we are a stable, national presence within the senior living industry, free from third-party debt in our CCRC communities and managed by a strong, long-tenured team."
Vi was established in 1987 as Classic Residence by Hyatt. The company changed its name to Vi in 2010. The company was created by Penny Pritzker, whose family founded Hyatt Hotels, to leverage Hyatt's hospitality expertise in the growing retirement living industry to better cater to the needs and lifestyle of discerning older adults.
Vi (pronounced vee) is the Latin root for the word "life." It was chosen as the name for the company because it captures the positive opportunities to live a more engaging and fulfilling life as an older adult.
Vi's ability to merge its hospitality heritage with quality senior living is what differentiates the brand from others. Visitors and residents can sense this commitment to quality and service from the moment they walk into one of Vi's communities, according to Richardson. "Hospitality is in our DNA; and every detail is meant to convey quality service, from the decor to our lifestyle and fitness programs and to our employees who've been specially trained in the art of making residents feel at home."
In addition, Vi communities feature stylish dining venues that enable residents to eat well and dine in style. Menus offer a wide variety of options to suit residents' nutritional needs and taste preferences. Meals are prepared by chefs who receive specialized training at The Culinary Institute of America.
As testament to Vi's approach, a recent survey of independent living residents at Vi's 10 CCRC communities finds them happy with their decision to live at Vi. The survey finds that 94 percent of Vi's independent living residents who completed the survey are very satisfied or satisfied with the community. Almost 95 percent say they would recommend their Vi community to family or friends.
Late last year, Vi commissioned a report by Ken Dychtwald Ph.D., renowned gerontologist, psychologist, best-selling author, and CEO of Age Wave that challenges the "prevailing myths and misperceptions" about CCRC living. The report, "The Five Myths and Realities of Continuing Care Retirement Communities," is available here.
Vi, formerly Classic Residence by Hyatt, is celebrating its 25th anniversary as a developer, owner and operator of older adult living communities. The company was founded in August 1987. The company is dedicated to enriching the lives of older adults by providing quality environments, services and care. Vi currently operates ten continuing care retirement communities (CCRCs) nationwide. For more information about Vi communities, visit http://www.ViLiving.com.
Contact: Tim Hermeling
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