Hi everyone and welcome to the first CLV Update of the 2018 financial year. Well, a lot has happened since our last update. The business sale process that was being explored by our investors over the past twelve months was discontinued in May. Investors have now asked management to focus on regionalising the business, and for Australia and New Zealand, that means forging closer relations between the two countries. This is an exciting opportunity for our region, and I’ll be sharing further communication on the regionalisation strategy over the coming weeks.
With the financial year recently closed, I am pleased to announce that both Australia and New Zealand met their budget targets for Financial Year 2017. This is a great achievement in challenging environments in both countries, and it is also one of our 3 Year Strategic Goals that we have satisfied in the first year of our 3-year plan. Well done everyone!
The Board has approved the regional budgets for Financial Year 2018 and we are focused on Integration, Innovation, and Motivation, ensuring we continue as the market leader in on-campus student accommodation. Right now we are actively recruiting for new talent, continuing to drive operational excellence across our Villages, and enthusiastically pursuing new business development opportunities on both sides of the Tasman. CLV is open for business, and has a strong appetite for growth in Australia and New Zealand.
CLV’s stellar form in winning industry awards continued in May this year when the University of Canterbury Accommodation in Christchurch received the Excellence in Student Experience Award at the annual AACUHO Conference in Hobart. This success is yet another acknowledgement of the market leading operating platform that CLV has established, placing the student at the centre of everything that we do. Congratulations to the team at UCA for this outstanding award.
We’re entering another exciting time of year with Open Days underway, and the let-up cycle for 2018 about to begin. We’ve got some great sales strategies and creative marketing campaigns in play that will drive interest in our Villages, but it is the energy, passion and enthusiasm of our staff that will determine our success. Speaking of our great staff, CLV’s Annual Conference Awards are only 5 weeks away, and I encourage you all to get online and nominate your colleagues and teams for any of the 10 awards that will be presented on the night.
That’s about all we’ve got time for this quarter. Have a great let-up season everyone, look after each other, and most importantly, enjoy what you do. See you on site soon.