2024-05-08
|
Study Abroad
Hosted accommodation vies to help the housing crisis
A New Approach to Tackling Housing Shortages?
Hosted accommodation vies to help the housing crisis
MyStay International, led by founder David Bycroft, seeks investments from banks in Australasia to combat the housing shortage for international students through its asset-light homestay solutions.
Key Points:
1. In 2023, the company housed 11,750 students and saw a revenue increase of 130.5% to $40 million compared to 2022.
2. Plans are underway to expand market share in North America, with homestay being viewed as a swift and effective remedy for the global student housing deficit.
3. Schoolhouse Solutions, headed by Ed Slade, specializes in education infrastructure investments and notes sustained interest in education despite rising interest rates.
4. Hosted accommodation is advocated as a practical solution for international students, offering scalability and efficiency over traditional housing options.
5. NEAS standards introduced in 2023 aim to boost consumer confidence in homestay services and provide a compelling alternative to purpose-built student housing.
6. Bycroft stresses the importance of collaboration between industry and government to regulate hosted accommodation, maintain high standards, and offer incentives such as tax credits for hosting international students.
7. Discussions on investment partnerships have been momentarily halted due to rapid growth but are anticipated to resume in the next 12 months to showcase exceptional results to potential investors.
Key Points:
1. In 2023, the company housed 11,750 students and saw a revenue increase of 130.5% to $40 million compared to 2022.
2. Plans are underway to expand market share in North America, with homestay being viewed as a swift and effective remedy for the global student housing deficit.
3. Schoolhouse Solutions, headed by Ed Slade, specializes in education infrastructure investments and notes sustained interest in education despite rising interest rates.
4. Hosted accommodation is advocated as a practical solution for international students, offering scalability and efficiency over traditional housing options.
5. NEAS standards introduced in 2023 aim to boost consumer confidence in homestay services and provide a compelling alternative to purpose-built student housing.
6. Bycroft stresses the importance of collaboration between industry and government to regulate hosted accommodation, maintain high standards, and offer incentives such as tax credits for hosting international students.
7. Discussions on investment partnerships have been momentarily halted due to rapid growth but are anticipated to resume in the next 12 months to showcase exceptional results to potential investors.
