Annual Review 2012 webpreview2 - Campus Living Villages

18 Campus Living VillagesOperational highlightsAnnual Review 2012 19AustraliaHead officeSydney, AustraliaDate of entry into market2003—Sydney University VillageNumber of beds7,926Number of properties12FY12 revenueAU $74.6millionNet asset valueAU $185.2millionFinancial performanceFY12 brought a number ofsuccesses for CLVau. Despite difficult globaleconomic conditions and a pronounceddownturn in international studentenrolments, CLVau successfully deliveredagainst and in many cases exceededits financial goals, demonstrating theeffectiveness of its operating model.Occupancy figures remained strong,aided by a successful 2011 reapplicationscampaign that saw a record number ofresidents reapplying for accommodation in2012. Overall, CLVau achieved an occupancyof 97.6% as of 31 March 2012, with sixof the twelve villages and two regionalcampuses reaching 100%.What drives resident satisfaction?The results of CLV’s benchmarkresearch studyA benchmark CLV research study hasreinforced the relevance of CLV’s key activitiesand areas of focus. The study was conductedin partnership with JWT Education (nowEduworld), a global specialist in educationmarket research. Surveying students acrossAustralia and the UK, the study aimed todiscover the choice factors that drive decisionmaking and satisfaction in accommodation.The results provide detailedinformation on students’ accommodationpreferences and values, and identify keydrivers of resident satisfaction.CLVau contributed significantly tothe results, working closely with educationpartners to achieve over 3,800 of the 5,500total responses gained. The high number ofresponses provides statistical validity to thework, making the results a key resource forCLV and higher education institutions.CLVau’s Chief Executive Officer,Michael Heffernan says, “CLV works withinstitutions who believe in the value andimportance of research. The study providesvalidation for CLV’s product and residential lifephilosophy, while also offering insights intohow we can improve what we do to enhancethe satisfaction of our residents“.“A research-led approach is key toestablishing best practice and industry leadingprogramming and services. CLV is now ideallypositioned to help current and prospectivepartners develop effective accommodationstrategies and best meet the needs of theirstudents,” adds Michael.To access the results of the study,please contact CLV.australiaMichael HeffernanChief ExecutiveOfficer, CLVauRon de HaanRegional ManagerSydney MetroChris HamiltonHuman ResourcesManagerKeiron HumblerGlobal Director ofRisk and FacilitiesAndrew KirkDirector of DevelopmentBrigitte MartinGlobal Director ofSales and MarketingSteve NobbsNational Commercial andFacilities ManagerTara VoLegal CounselBusiness performanceBuilding partnerships with our keystakeholders is intrinsic to the operatingmodel in Australia. To this end, CLVauenjoyed a positive year and continued ourcommitment to strengthening relationshipswith both existing and potential partners.In 2012, we successfully engaged with thetertiary sector through key sponsorship ofthe Universities Australia Higher Educationconference, as well as award sponsorshipfor the ATEM/Campus Review ‘Award forExcellence by a Young Person in TertiaryEducation’. The chosen award aligned closelywith CLV’s ongoing commitment to supportthe development of young people andachieve excellence in the sector.At village level, a number of launchevents were held with the support of keyuniversity representatives. September 2011saw the official opening of Edith CowanUniversity (ECU) Village’s new studentaccommodation on the Mount Lawleycampus. Key speakers at the ceremonyincluded the Minister for Defence, theHon. Stephen Smith MP, ECU’s Chancellor,the Hon. Dr Hendy Cowan and ECU’s Vice-Chancellor, Professor Kerry Cox. The eventprovided an opportunity to bring residents,staff and the university community togetherto showcase village facilities and celebratethe campus’s newest addition.In June 2012, Macquarie UniversityDeputy Vice-Chancellor (Students andRegistrar), Diedre Anderson officiallyunveiled a new entertainment deck atMacquarie University Village. In addition tothis impressive outdoor area, a new e-libraryand boardroom were also opened, providingresidents with access to computers,wireless internet connectivity, private andgroup study spaces and other importantfacilities to support academic success.A number of major refurbishmentsalso took place across the portfolio. Theseincluded bathroom and kitchen renovationsat Murdoch University Village as part of athree-year project to enhance the originalaccommodation developed by MurdochUniversity in the 1980s. At Southern CrossUniversity (Lismore), work was undertakento deliver new bathrooms, a poolsidebarbeque, dedicated study spaces andoutdoor entertainment areas.Maintaining the quality andcondition of its existing facilities is a keyreason that CLV is able to sustain its marketleading position in Australia. To supporteach village’s long-term asset strategy, anAsset Register Identification and ValuationProject was conducted by risk managementconsultants, Aon. Data was used to developa detailed Life Cycle Costing Plan andFacility Condition Index for each site,an approach aimed at more accuratelypredicting future maintenance costs andbetter managing the condition of each assetover the duration of every project.CLVau is also proud to havereceived wide-ranging recognition frompartners and the higher education sector asleaders in developing risk and safety bestpractice. This year, excellent progress wasmade again in this area, enhancing CLVau’scompetitive advantage as the studentaccommodation provider of choice. OurSafety Management Plan has incorporatedrecent changes to the Workplace, Health andSafety Act, ensuring that we remain currentand compliant with relevant regulations.Safety training was undertaken at allvillages throughout FY12 as part of CLVau’semphasis on creating a safety culture acrossour business.Business developmentIn 2012, CLVau finalisedarrangements for its first operationalpartnership with a private studentaccommodation provider, Iglu StudentAccommodation (Iglu). The partnership isexpected to generate an increase of some500 beds to CLVau’s existing managementportfolio over the next two years and opensthe door for future business ventures.CLVau was appointed by Iglu, anewcomer in the Sydney student housingmarket, to provide day-to-day functions(bookings, facilities, reception, maintenanceand bookkeeping) for a 98-bed off-campusproperty in Chippendale, due to open inFebruary 2013. Similar terms have beenagreed for a second 396-bed Iglu propertyin Chatswood, which is expected to open inFebruary 2014.Iglu cited CLV’s experience as “theleading provider of on-campus studentaccommodation in Australia and a respectedpartner for campuses around the world” asthe reason for engaging CLVau to performthese selected operator services.The year aheadThe new year brings opportunitiesfor CLVau to work towards achieving itsthree-year strategic goals - growing theportfolio, maximising occupancy, maintaininghigh resident reapplication rates, enhancingemployee and resident satisfaction,providing a safe and secure environmentfor our residents, staff and contractors, andmaintaining the quality and marketability ofour assets. Over the past few years, CLVauhas refined its residential life framework andother core offerings and enters 2013 withgrowth as a key focus.Discussions are underway with anumber of existing and potential partnersand the business expects significantdevelopment and operational projects tobe realised within the next year. To ensureCLVau is appropriately resourced to tacklethis anticipated growth, initiatives havebeen put in place to enhance the operationalmanagement structure, including thecreation of a Director of Operations role.Through our commitment todeveloping our people, the Australianbusiness recently launched the CLV FutureLeaders Program to identify strongperformers, hone their leadership skills andprovide pathways for career progression.Customer service and sales training will berolled out on a national basis to frontlinestaff in a concentrated effort to maintainour high levels of service and underpin salesrevenue as the business grows.Class-leading systems are beingimplemented across the network. Anexample is SharePoint, a global intranetplatform that has already created notableefficiencies at head office level. Over thenext year, SharePoint will be rolled out at avillage level, further promoting knowledgesharing and best practice across the region.Another development is the establishmentof an online contracting system. This projectrepresents a significant opportunity forthe business to streamline the applicationprocess for residents whilst reducingthe volume of administration required atthe villages. This will be supported by thedevelopment of customised e-commercegrade reporting tools, leading to increasedefficiencies and valuable insights into CLVau’smarketing return on investment.A renewed focus on the developmentand growth of additional revenue streamshas resulted in the complete redevelopmentof CLVau’s Campus Summer Stays website.Designed to offer short stay accommodationoutside of the academic year when residentstypically leave over summer, the websitehas expanded its utility to sell pockets ofavailability throughout the year. The newwebsite, to be launched early 2013, willreduce staff workloads through an integratedbooking engine that enables online inventoryto be distributed across multiple third-partytravel websites and managed through onecentral system. The web platform has beendesigned to incorporate the global businessas required.With these initiatives in place, CLVlooks forward to enhancing operations andlaying the groundwork for future growth.