Unite Share News (UTG)

(Sharecast News) - Unite Group said on Monday that it plans to operate a reduced programme of summer business due to the risk of disruption to bookings from the coronavirus, but that there has been no "noticeable" impact so far from the outbreak.
The student accommodation provider said reservations are currently 77%, in line with the same time a year ago, while sales to and enquiries from international students are also in line with prior years.

It noted statements by a number of UK universities in response to the pandemic, confirming that some face-to-face teaching has been suspended in the run-up to Easter. University campuses, libraries and halls of residence remain open, it said.



Unite now plans to operate a reduced programme of summer business in 2020 "given the risk of disruption to bookings". It said the removal of variable costs associated with its summer business will help to mitigate the impact on earnings, which is not expected to be material. In 2019, summer business made up 3% of rental income.

"The safety and wellbeing of the students who live with us and our employees remains our top priority. The company continues to operate all of its properties and has implemented advice from the World Health Organisation and Public Health England.

"We are in active dialogue with our university partners and will continue to provide our students with support and access to the most up-to-date information."