Exhibit 99.1

Investor Relations Contact

Tim Smith, 703-854-0348

Sunrise Reports Financial Results for Second Quarter of 2011

MCLEAN, VA - Sunrise Senior Living, Inc. (NYSE: SRZ) today reported financial results and operating data for the second quarter of 2011. Sunrise will host a conference call and webcast on Thursday, August 4, 2011, at 9:00 a.m. ET, to discuss the financial results.

2011 Second Quarter Results

In the second quarter of 2011, Sunrise reported revenues of $322.0 million as compared to $348.1 million for the second quarter of 2010. Net income for the second quarter of 2011 was $1.3 million or $0.02 per fully diluted share, as compared to net income of $46.3 million, or $0.81 per fully diluted share, for the second quarter of 2010. Sunrise’s second quarter 2011 results included an $11.3 million gain on the fair value of pre-existing equity interest relating to acquiring the AL US portfolio. Sunrise’s second quarter 2010 results included a $52.0 million gain from the German debt restructuring and a $12.7 million gain from the termination of certain management contracts.

Adjusted EBITDAR for the second quarter of 2011 was $39.1 million as compared to $32.0 million for the second quarter of 2010. This measure is used by management to focus on income generated from the ongoing operations of the Company. Adjusted EBITDAR is a measure of operating performance that is not calculated in accordance with U.S. GAAP and should not be considered as a substitute for income/(loss) from operations or net income/(loss). For a reconciliation of this measure, please refer to the attached table “Reconciliation for EBITDA, Adjusted EBITDA and Adjusted EBITDAR.”

Cash and Liquidity Update

Sunrise had $65.1 million of unrestricted cash at June 30, 2011. As of June 30, 2011, Sunrise’s consolidated debt was $565.5 million, as compared to $163.0 million at December 31, 2010, an increase of $402.5 million. The increase in consolidated debt relates to the AL US acquisition totaling $325.4 million (at fair value) and the issuance of junior subordinated convertible notes totaling $86.3 million during the second quarter of 2011.

Sunrise entered into a new $50 million senior revolving line of credit with KeyBank which closed during the second quarter of 2011. As of June 30, 2011, there were no outstanding draws against this credit facility and $0.5 million of letters of credit were issued and outstanding. Sunrise has $13.4 million in outstanding letters of credit on its terminated Bank of America Bank Credit Facility that are fully cash collateralized. Sunrise is in the process of transferring these letters of credit to its new credit facility with KeyBank, at which point the current cash collateral will be available for general corporate purposes.

AL US Acquisition

On June 2, 2011 the Company purchased from a group of funds affiliated with Morgan Stanley an 80 percent ownership interest in a joint venture entity, AL US Development Venture, LLC, that owns 15 senior living communities for a purchase price of $45 million. The Company now owns 100 percent of the ownership interest in the portfolio of 15 Sunrise-managed senior living communities. In connection with the closing of the transaction, the Company entered into a loan modification agreement with AL US’s lender, HSH Nordbank, that provides for an extension of the maturity date through June 14, 2015, a partial pay down of $25 million, a cash sweep through maturity, and the release of certain management fees that were escrowed. In addition, the loan modification eliminated the requirement to further subordinate or defer management fees provided no event of default occurs. The loan modification also provides relief under current debt service coverage requirements and restructures other terms of the loan.

General and Administrative Expenses

In connection with the Company’s ongoing efforts to reduce its general and administrative expenses, Sunrise eliminated 20 positions during the quarter ended June 30, 2011 and incurred $1.1 million of severance costs associated with these terminations. Further, during the quarter ended June 30, 2011, Sunrise’s general and administrative expenses included $1.0 million in professional expenses associated with its previously announced transactions.

Operating Data for Second Quarter 2011

Mark Ordan, Sunrise’s chief executive officer, commented on the quarter, “We are pleased with our second quarter performance which shows continued strength in occupancy, rate and operating results. We are also pleased with our continuing progress in achieving our strategic goals. While our second quarter sequential occupancy dropped by 50 basis points from the first quarter to the second quarter, we have seen renewed strength in recent weeks.”

Stabilized properties are single properties or pools of properties owned or leased by us or owned by a joint venture where the single property or all of the communities in the pool have been open and operating for more than 36 months as of June 30, 2011. This differs from our “comparable community” definition which defines comparable at the individual community level as having been open and operating as of January 1, 2009.

Venture Transaction – Subsequent to Quarter End

On August 2, 2011, Sunrise and its venture partner in a portfolio of six communities transferred ownership of the portfolio to a new joint venture owned 70 percent by a wholly-owned subsidiary of CNL Lifestyle Properties (“CNL Sub”) and 30 percent by Sunrise. As part of the new venture agreement with CNL Sub, from the start of year four to the end of year six, Sunrise will have a buyout option to purchase CNL Sub’s 70 percent interest in the venture for a 16% internal rate of return to CNL Sub. In addition, the new venture modified the existing mortgage loan in the amount of $133.2 million to provide for, among other things, (i) pay down of the loan by approximately $28.7 million and (ii) an extension of the maturity date of the loan to April 2014 which may be extended by two additional years under certain conditions. In connection with the transaction, Sunrise contributed $8.1 million and CNL Sub contributed $19.0 million to the new venture. See below for key financial statistics on this portfolio.

Key Financial Statistics*

*June 2011 YTD Annualized

1) The portfolio is still in the lease-up phase.

2) In connection with this transaction, our management fee was reduced from 7% of revenue to 5% of revenue. However, we have an incentive management fee opportunity if certain operating results are achieved.

3) Interest rate is libor plus 208 with a 250 bps floor on libor resulting in a current all in rate of 4.58%.

Supplemental Information

For additional details on Sunrise’s stabilized and lease up properties, please refer to the Supplemental Information attached. Also, additional supplemental information has been furnished to the Securities and Exchange Commission in a Form 8-K, and can also be found on the Supplemental Data link on the Investor Relations section of the Company’s Web site at http://suppdata.sunriseseniorliving.com/

Conference Call and Webcast

Sunrise will host a conference call and webcast at 9:00 a.m. ET on Thursday, August 4, 2011, to discuss the financial results for the second quarter of 2011 and the other matters discussed in this press release. The call-in number for the conference call is 888-215-6896 or 913-312-1444 (from outside the U.S.). Callers should reference the “Sunrise Senior Living Q2 Earnings Call” or the participant passcode: 4094017. Those interested may also go to the Investor Relations section of the Company’s Web site (http://www.sunriseseniorliving.com) to listen to the earnings call. A telephone replay of the call will be available until August 18, 2011 at 1 p.m. ET, by dialing 888-203-1112 or 719-457-0820 (passcode: 4094017); a replay will also be available on Sunrise’s Web site during that period.

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About Sunrise Senior Living

Sunrise Senior Living, a McLean, Va.-based company, employs approximately 31,700 people. As of June 30, 2011, Sunrise operated 316 communities located in the United States, Canada and the United Kingdom, with a unit capacity of approximately 31,000 units. Sunrise offers a full range of personalized senior living services, including independent living, assisted living, care for individuals with Alzheimer’s and other forms of memory loss, as well as nursing and rehabilitative services. Sunrise’s senior living services are delivered by staff trained to encourage the independence, preserve the dignity, enable freedom of choice and protect the privacy of residents. To learn more about Sunrise, please visit http://www.sunriseseniorliving.com.

Forward-Looking Statements

Certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Sunrise believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, there can be no assurances that these expectations will be realized. Sunrise’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors, including, but not limited to, the risk that we may not be able to successfully execute our plan to sell certain assets mortgaged to our German restructure transaction or the net sale proceeds of the mortgaged North American properties are not sufficient to pay the minimum amount guaranteed by Sunrise to the lenders that are party to the German restructure transactions; the risk that we may be unable to reduce expenses and generate positive operating cash flows; the risk of future obligations to fund guarantees to some of our ventures and lenders to the ventures; the risk of further write-downs or impairments of our assets; the risk that we are unable to obtain waivers, cure or reach agreements with respect to existing or future defaults under our loan, venture and construction agreements; the risk that we will be unable to repay, extend or refinance our indebtedness as it matures, or that we will not comply with loan covenants; the risk that our ventures will be unable to repay, extend or refinance their indebtedness as it matures, or that they will not comply with loan covenants creating a foreclosure risk to our venture interest and a termination risk to our management agreements; the risk that we are unable to continue to recognize income from refinancings and sales of communities by ventures; the risk of declining occupancies in existing communities or slower than expected leasing of newer communities; the risk that we are unable to extend leases on our operating properties at expiration, in some cases, the expiration is as early as 2013; the risk that some of our management agreements, subject to early termination provisions based on various performance measures, could be terminated due to failure to achieve the performance measures; the risk that our management agreements can be terminated in certain circumstances due to our failure to comply with the terms of the management agreements or to fulfill our obligations thereunder; the risk that ownership of the communities we manage is heavily concentrated in a limited number of business partners; the risk our current and future investments in ventures could be adversely affected by our lack of sole decision-making authority, our reliance on venture partners’ financial condition, any disputes that may arise between us and our venture partners and our exposure to potential losses from the actions of our venture partners; the risks from our international operations which are subject to a variety of risks that could adversely affect those operations and thus our profitability and operating results; the risk from competition and our response to pricing and promotional activities of our competitors; the risk of liability claims against us in excess of insurance limits could adversely affect our financial condition and results of operations including publicity surrounding some claims that may damage our reputation, which would not be covered by insurance; the risk of not complying with government regulations; the risk of new legislation or regulatory developments; the risk of changes in interest rates; the risk of unanticipated expenses; the risks of further downturns in general economic conditions including, but not limited to, financial market performance, downturns in the housing market, consumer credit availability, interest rates, inflation, energy prices, unemployment and consumer sentiment about the economy in general; the risks associated with the ownership and operation of assisted living and independent living communities; and other risk factors detailed in our Current Report on Form 8-K filed with the SEC on April 14, 2011, and as may be further amended or supplemented in our Form 10-Q filings. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. Unless the context suggests otherwise, references herein to “Sunrise,” the “Company,” “we,” “us” and “our” mean Sunrise Senior Living, Inc. and our consolidated subsidiaries.

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SUNRISE SENIOR LIVING, INC.

CONSOLIDATED BALANCE SHEETS

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SUNRISE SENIOR LIVING, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

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SUNRISE SENIOR LIVING, INC.

Reconciliation For EBITDA, Adjusted EBITDA, and Adjusted EBITDAR

EBITDA, Adjusted EBITDA, and Adjusted EBITDAR

EBITDA, adjusted EBITDA, and adjusted EBITDAR are measures of operating performance that are not calculated in accordance with U.S. generally accepted accounting principles and should not be considered as a substitute for income/loss from operations or net income/loss. EBITDA, adjusted EBITDA, and adjusted EBITDAR are used by management to focus on performance and liquidity as EBITDA excludes depreciation and amortization, interest income, interest expense, and provision for income taxes. Adjusted EBITDA further excludes accounting restatement, special independent committee inquiry, SEC investigation, stockholder litigation, buyout fees, restructuring costs, write-off of capitalized project costs, allowance for uncollectible receivables from owners, impairment of long-lived assets, gain on investments, other income (expense), stock compensation, gain on the sale and development of real estate and equity interests, proportionate share of joint venture interest, taxes, depreciation, and amortization, loss from investments accounted for under the profit-sharing method, and discontinued operations (net of tax). Adjusted EBITDAR further excludes consolidated community lease expense and our share of lease expense from consolidated New York communities leased from a venture.

The following table reconciles adjusted EBITDA and adjusted EBITDAR to net income (loss) attributable to common shareholders (in millions):

Footnotes:

In connection with the Company’s ongoing efforts to reduce its general and administrative expenses, Sunrise eliminated 20 positions during the quarter ended June 30, 2011 and incurred $1.1 million of severance costs associated with these terminations. Further, during the quarter ended June 30, 2011, Sunrise’s general and administrative expenses included $1.0 million in professional expenses associated with its previously announced venture transactions.

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Sunrise Senior Living

Community Data

Ownership Type

Footnotes:

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