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Empiric Reports Rise in Occupancy

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

The student specialist Empiric has reported revenue occupancy of 81% for the 2021-22 academic year (2020-21: 70%).

The figure is in line with the guidance provided last August of between 75%-85%. The number also includes just over 1% of occupancy from students still to check-in between now and January 2022.

For the 2021-22 season 98% of rent due has been collected and UK student bookings now represent 46% of the total, with 27% Chinese and 27% other internationals. This compares to around one third each pre-pandemic.

The company has also confirmed it is reinstating dividend payments and is expected to pay a dividend of at least 2.5p per share for FY 2022.