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Homes for Students Projects Significant Revenue Growth

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Homes for Students is on track to meet its revenue growth forecast of 69% for the next financial year and will operate over 20,000 student beds throughout the UK by the end of 2019.

The student accommodation operator said that based on contracts already secured, it will achieve turnover of £17.7m in its 2018-19 financial year. For 2019-20, the company is projecting a 69% increase to £29.9m.

The company operates 75 schemes in 29 university towns and cities under its Homes for Students and Prestige Student Living brands. Due to its rapid growth, the business is now looking to add a number of roles within its sales and marketing, compliance and asset management teams to support its growth strategy.

Martin Corbett, Homes for Students' managing director, suggests that as more purpose-built student accommodation enter the market, managing accommodation will become more challenging.

He said: "The scale of the business and the platform it works off will become increasingly important to compete with the larger owner-operated brands in respect of internet presence, marketing intelligence and operational efficiencies."

"Homes for Students' focus is on the UK and Ireland and we are now consolidating ready for further expansion later this year by adding key roles to support our business objective of managing 30,000 beds by the end of our initial five-year plan."

The company is opening several new sites in time for the 2019-20 academic year, including those located in Birmingham, Exeter, Glasgow, Lancaster, Leicester, Nottingham, Plymouth and Sheffield.