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Senior Living Provider Classic Residence by Hyatt Changes Name to “Vi”
New Study of Older Adults Confirms New Brand Reflects Values and Aspirations of Today’s Seniors
Chicago, IL -
June 7, 2010
Classic Residence by Hyatt, a leading national developer, owner
and manager of quality senior living communities, today unveiled
its new company brand name, Vi (pronounced VEE). The company's
portfolio includes rental communities and continuing care
retirement communities (CCRCs). The CCRCs will be branded as
Vi, while rental communities will change their names to Classic
Residence, a Vi Community. The name change will take place
throughout the summer. Leadership, management and day-to-day
operations of the company and all of the communities remain
unchanged.
According to the company, the name Vi was selected because it
represents life and the opportunity for a better quality of life in
the communities the company operates. Furthermore, Vi personifies
what living life as an older adult can be all about-more vibrant,
more engaged and more enriched. The name, Vi, is derived
from vita, the Latin word for life.
"Our new identity reflects what our communities are all
about-health, happiness and vitality," commented Randal J.
Richardson, President of Vi. "In addition, the name Vi
captures the environment and experience we offer residents, and
signifies our continued dedication to providing communities and
services that enhance the quality of our residents' lives."
The expectations of today's older adults were underscored in a
new study of Americans aged 65 and over commissioned by
Vi. According to the Vi Next Chapter study, more than four out
of five seniors (82%) feel they have "so much to look forward to"
in the next chapter of life, and 83% say they "feel younger than
they are."
With more than 70 million baby boomers starting to turn 65 this
year, it is estimated that boomers will have 30+ years of
retirement. The Vi Next Chapter study found that 81% of
Americans over 65 have a different vision of their retirement from
that of their parents. Almost nine out of 10 (86%) say they want
their retirement to be more exciting and more active than their
parents' retirement, while almost all (98%) say retirement "can and
should be a fun experience." Conversely, a scant 6% look to
their parents' retirement as a guide for their own future.
"This study supports the fact that older adults view our
communities as a place to grow and thrive, and is a primary reason
we want to change the perception of older adult living through our
new brand," said Richardson. "Given both the life expectancy and
high lifestyle expectations of today's older adults, we have
identified four Vital Elements that signify everything our new
brand stands for and delivers," added Richardson. "These Vital
Elements-Home, Wellness, Connection and Vitality-are the foundation
of Vi."
In addition to a new visual identity, Vi will introduce a new
website, http://www.viliving.com/, in
July. A comprehensive marketing campaign to support the new
brand will begin this fall.
About Vi
Vi is a national leader in senior living that develops, owns and
operates communities for older adults in Scottsdale, Ariz.;
Monterey, Calif. (owned by Pacifica Companies and managed by Vi);
Palo Alto, Calif.; San Diego, Calif.; Highlands Ranch, Colo.;
Aventura, Fla.; Boca Raton, Fla.; Hollywood, Fla.; Lantana, Fla.;
Naples, Fla.; Plantation, Fla.; Pompano Beach, Fla.; Glenview,
Ill.; Chevy Chase, Md.; Reno, Nev.; Teaneck, N.J.; Yonkers, N.Y.;
Hilton Head Island, S.C.; and Dallas, Texas. Vi's newest continuing
care retirement community is under development in Scottsdale, Ariz.
A major expansion has just been completed in San Diego, Calif. Vi
communities have earned honors for being among the nation's finest,
including Platinum, Gold, and Silver Achievement Awards from the
National Association of Home Builders 50+ Housing Council. The
company's Web site is at http://www.viliving.com.
Vi is a privately held company and is independent from Hyatt
Hotels and Resorts.
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