Els reports minimal impact from Hurricane Helene

CHICAGO, September 30, 2024 /PRNewswire/ — Equity LifeStyle Properties, Inc. (NYSE:ELS) (hereinafter referred to as “Company”, “we”, “us” and “our”) today announced its preliminary assessment of the impacts of Hurricane Helene on its Florida, North Carolina And South Carolina Characteristics.

There have been no reported injuries to our residents, guests or staff. Certain properties were affected by flooding, wind, wind-blown debris, and falling trees and branches. We are in the process of estimating the costs associated with the cleanup and restoration work. We believe we have adequate insurance, subject to deductibles, including business interruption insurance. At this time, we do not believe that Hurricane Helene will materially affect our results of operations or financial condition on a consolidated basis

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. When used, words such as “anticipate,” “expect,” “believe,” “project,” “estimate.” “Guidance”, “intend”, “may be” and “will be” and similar words or expressions or the negative thereof, unless the context otherwise requires, are intended to identify forward-looking statements and may contain, without limitation, information regarding our expectations, objectives or intentions regarding the future and expected effects of our acquisitions. By their nature, forward-looking statements involve estimates, forecasts, objectives, forecasts and assumptions and are subject to risks and uncertainties that could cause actual outcomes or outcomes to differ materially from those expressed in any forward-looking statement for a variety of reasons , which include, but are not limited to, the following: (i) the mix of site uses within the portfolio; (ii) revenue management at our short-term resort and marina locations; (iii) planned or implemented rate increases at community, resort and marina locations; (iv) planned or implemented rate increases in annual membership dues payments; (v) changes in occupancy; (vi) our ability to attract and retain member customers; (vii) changes in customer demand for travel and outdoor vacation destinations; (viii) our ability to manage expenses in an inflationary environment; (ix) changes in debt service and interest rates; (x) our ability to integrate and operate recent acquisitions in accordance with our estimates; (xi) our ability to implement expansion/development opportunities in light of changes affecting the supply chain or labor markets; (xii) completion of the outstanding transactions in their entirety and on the expected schedule; (xiii) our ability to attract and retain real estate employees, particularly seasonal employees; (xiv) ongoing legal matters and related fees; (xv) costs of restoring property operations and potential loss of revenue following storms or other unplanned events; and (xvi) the potential impact and our ability to correct material weaknesses in our internal control over financial reporting.

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For more information about these and other factors that could affect us and the statements contained herein, please see our filings with the Securities and Exchange Commission, including the “Risk Factors” and “Forward-Looking Statements” sections in our most recent Form 10 Annual Report -K and all subsequent quarterly reports on Form 10-Q.

These forward-looking statements are based on management’s current expectations and beliefs about future events. Like any forecast or forecast, these statements are inherently subject to uncertainty and changes in circumstances. We are under no obligation to, and expressly disclaim any obligation to, update or revise our forward-looking statements as a result of such changes, new information, subsequent events or otherwise.

We are a fully integrated lifestyle property owner and own or have an interest in 452 properties, predominantly located in the United States consisting of 172,866 locations July 22, 2024. We are a self-managed, self-managed real estate investment company based in Chicago.

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SOURCE Equity Lifestyle Properties, Inc.