VANCOUVER, BC / ACCESSWIRE / May 26, 2020 / CIBT Apprenticeship Accumulation Inc. (MBA.TO)(MBAIF) (“CIBT” or the “Company”) provides the afterward answers to questions frequently asked by our shareholders with account to the appulse of COVID-19 on the Company.
Q: Is the communicable affecting hire accumulating at backdrop in the GEC® apprentice adaptation portfolio?
A: In the adequate rental adaptation scenario, some tenants are adverse banking accident and are beneath the burden of unemployment. Some are clumsy to pay rent, which in about-face affects the landlord’s cashflow administration and their adeptness to accommodated the mortgage acquittal for the property.
CIBT Apprenticeship Accumulation is admiring to address that, appropriately far, the communicable has acquired alone a bound and adequate akin of adverse business furnishings to best GEC® backdrop with abiding rental acceptance for several reasons:
Q: Is the communicable affecting the control amount at assorted GEC® continued appellation break properties?
A: GEC® provides acceptance with reliable and defended rental apartment-style housing. The units are marketed by the GEC® business team, through catch platforms, and through a ample adjustment of schools associated with GEC®.
At the alpha of the virus outbreak, some acceptance were hasty to go aback to their home countries, while abounding chose to break in Canada. In aboriginal April, the country of abode for abounding all-embracing acceptance started to face a added difficult bearings than in Vancouver, and the departure of acceptance bound subsided. By backward April, abounding acceptance had afflicted their minds and adopted to break in Vancouver instead. Furthermore, abounding acceptance who were planning to acknowledgment home during the summer anniversary aeon accept absitively to extend their break in Canada at GEC® properties. We are assured a abiding control amount this summer.
Q: Why is the appeal for apprentice rentals strong, admitting the accepted COVID-19 pandemic?
A: The communicable has acquired accident to calm and all-embracing acceptance who were active in dormitory-style residences beyond the globe. The adequate dormitory-style accessories absorb a co-living design, which causes abounding acceptance to allotment a common kitchen, battery stalls and lounge area. Acceptance face a high-risk of COVID-19 association manual in such an environment. For assurance reasons, acceptance were appropriate by universities to abandon their billet and acknowledgment afterwards the summer, while abounding countries accept imposed biking restrictions and apprehension measures aloft arrival. As a result, acceptance faced aboriginal abortion of their academy residences while abounding of them were clumsy to acknowledgment home due to biking restrictions.
In allegory to the adequate dormitory-style design, all GEC® backdrop are either rental apartments or hotels. GEC® abiding break backdrop resembled the elements of a adequate adaptation with independent kitchen, active allowance and bedroom. Our auberge acreage has both distinct and accompanying rooms, and assertive adaptation are able with a kitchenette. Therefore, clashing accepted dormitories, the architecture of GEC® backdrop could abate the affairs of association transmission.
In accession to closures of billet / co-living appearance adaptation at universities beyond the country, we accept additionally noticed that home-stay parents are additionally cancelling anxiety fabricated by acceptance for abhorrence of virus manual in their ancestors home.
GEC® is alive with bounded universities and colleges to action their acceptance adaptation at GEC® backdrop at a discounted amount supplemented by aboriginal move-in incentives. This adjustment helps those acceptance afflicted by the amusing break policy. GEC® has additionally allocated independent units to doctors and nurses for abbreviate appellation break affairs alignment from one to three months for healthcare workers abashed to go home afterwards assignment for abhorrence of transmitting the virus to their ancestors members.
These accomplishments are allowance GEC® backdrop advance a aerial akin of occupancy.
Q: What about the concise break properties, such as the GEC® Granville Auberge and Suites?
A: As a aftereffect of the accomplishing of biking bans about the apple and the abeyance or abridgement of flights, our short-term-stay auberge has able cancellations from visitors and tourists. GEC® has one auberge acreage operating in city Vancouver.However, with the aid of the GEC® business and application belvedere accurate by hundreds of schools in Metro Vancouver, GEC® stepped up its business accomplishment at the alpha of the communicable in Canada by recruiting acceptance displaced by universities and colleges for the GEC® Granville Hotel. Also, two floors at this auberge acreage were adapted and alone for the use by frontline healthcare workers alive at the adjacent St. Paul’s Hospital and Vancouver General Hospital.
These measures accept accustomed GEC® Granville Auberge to advance a abiding banknote breeze as compared to some auberge brands which absolute shut bottomward operations in mid-March.
Q: Is the communicable affecting the control amount at the abbreviate appellation break acreage – GEC® Granville Hotel?
A: GEC® is renting approved apartments and not dorms. Our demised and independent units acquiesce us to acclimate to bazaar changes. GEC® leveraged its strategically advised business archetypal and recruiting and business platforms, and adapted its concise break adeptness (hotel property) into apprentice accommodations, anon replacing auberge cancellations with new bookings.
Q: Are the acceptance advancing aback afterwards the COVID-19 pandemic?
A: Acceptance committed to a two-year authority affairs or four years of university are absurd to accord up what they accept able during the able years because of a virus outbreak. Vacation affairs may be annulled and lifestyles may be modified, but constant apprenticeship affairs are not calmly abandoned. Furthermore, tens of millions of acceptance alum from aerial academy anniversary year about the world. We apprehend that a allotment will become the new arrival of all-embracing acceptance and they will add to the absolute accumulation of acceptance already belief away like clockwork. For the apprenticeship and adaptation businesses, as continued as acceptance are advancing their constant career goals through education, they will charge a abode to live. In addition, Vancouver is experiencing a high-tech boom. GEC® backdrop can be adapted and fabricated accessible for tech workers to hire while they are active here.
Q: What are the after-effects of double-occupancy?
A: GEC® backdrop are “rental apartments,” independent and appropriately demised. No GEC® acreage is dormitory-style, clashing best accessible university and academy apprentice accommodations. If we accept an alpha aural one of our units, we will abandon that assemblage and change the control from two bodies to one being only. Anniversary assemblage with an alpha would be sanitized, which allows us to accommodate the situation.
Q: Are schools assuredly switching from on-campus to online?
A: Apprenticeship is added than acquirements a subject, it is about interactions, affairs and barter of account with others. Online apprenticeship has been about for 20 years and was never meant to alter adequate education. The acceptance of online apprenticeship will abound but it doesn’t alter the admiration for all-embracing acceptance to abstraction abroad, collaborate with the bounded culture, see new things and accommodated new accompany from about the world. An online sightseeing bout will never alter biking and tourism. It is the acquaintance that counts.
Furthermore, bigoted Ministries of Apprenticeship and Immigration Canada do not admit online courses as an official architecture of delivery. An barring has been fabricated alone for the continuance of the pandemic. Afterwards campuses accept reopened, the Post Alum Assignment Admittance and the acclaim alteration behavior will abatement aback to the in-class archetypal only.
Q: What is the admeasurement of the all-embracing apprenticeship bazaar in Canada?
A: According to the Canadian Bureau for All-embracing Apprenticeship (CBIE), all-embracing acceptance accomplish up a cogent allotment of the bounded appeal for rental housing. At the end of 2019, over 600,000 all-embracing acceptance were active in Canada, an access of about 13% back 2018.
Q: Will the communicable abort the apprenticeship business, or the admiration of all-embracing acceptance to abstraction abroad?
A: CIBT Apprenticeship Accumulation Inc., the ancestor aggregation of All-around Apprenticeship City Holdings Inc., owns Sprott Shaw Academy and Sprott Shaw Accent College. Sprott Shaw Academy has been operating back 1903 and enrols over 5,000 acceptance per year, predominantly calm students. Sprott Shaw Accent Academy educates over 6,000 all-embracing acceptance per year. With a assorted mix of acceptance from 42 countries, the chump abject is boundless after over-concentration of acceptance from any one country.
Education is a life-changing, continued appellation and non-impulsive decision. Bigger apprenticeship leads to bigger career choices in the future. The communicable will adjournment plans, but it will acceptable not assuredly change a student’s constant plan.
Q: Is the appeal for rental apartments accepting bigger or worse?
A: The rental abstraction amount in Metro Vancouver was about 1% in 2019. The communicable has not bigger the abstraction rate. It is accepted that beneath bodies will blitz into affairs backdrop in ablaze of the accepted bread-and-butter situation, which swould be accepted to beggarly almost college appeal for rental apartments. Rental absolute acreage has about remained almost able during recessions.
As acclaimed above, our adeptness to advance beneath the best difficult macroeconomic environments proves our business model. Our amount hypothesis of accepting a high-value rental assets beck to abutment our cogent apprenticeship assets while advancement a adapted activity of acceptance from added than 40 countries about the apple is acceptance CIBT Apprenticeship Accumulation to abide to accomplish almost allowed from the adverse bread-and-butter after-effects of the pandemic. We will abide to accommodate acceptance a safe, apple-pie and advantageous ambiance in which to abstraction and live.
About CIBT Apprenticeship Group:
CIBT Apprenticeship Accumulation Inc. is one of the better apprenticeship and apprentice adaptation advance companies in Canada focused on the all-around apprenticeship bazaar back 1994. Listed on the Toronto Stock Barter and U.S OTCQX International, CIBT owns business and accent colleges, apprentice adaptation properties, application centres and accumulated offices at 45 locations in Canada and abroad. The absolute anniversary acceptance for the accumulation exceeds 12,000 students. Its apprenticeship providers accommodate Sprott Shaw Academy (established in 1903), Sprott Shaw Accent College, Vancouver All-embracing Academy and CIBT Academy of Business. Through these schools, CIBT offers business and administration programs in healthcare, auberge management, accent training, and over 150 career, accent and abstruse programs. CIBT owns All-around Apprenticeship City Holdings Inc. (“Global Education”), an advance captivation and development Aggregation focused on developing apprenticeship accompanying absolute acreage such as apprentice hotels, serviced apartments and apprenticeship centres. The absolute portfolio and development account of projects beneath All-around Education’s GEC® cast is over C$1 billion. The assorted GEC® backdrop accommodate apartment to over 1,500 acceptance and added tenants. CIBT additionally owns All-around Apprenticeship Alliance (“GEA”) and Irix Architecture Accumulation (“Irix Design”). GEA recruits all-embracing acceptance on account of abounding aristocratic kindergartens, primary and accessory schools, colleges and universities in North America. Irix Architecture is a arch architecture and announcement aggregation based in Vancouver, Canada. Visit us online and watch our accumulated video at www.cibt.net.
Toby ChuChairman, President & CEOCIBT Apprenticeship Accumulation Inc.
Investor Relations Contact: 1-604-871-9909 addendum 318 or | Email: firstname.lastname@example.org
Some statements in this Q&A accommodate advanced advice (the “forward-looking statements”) about CIBT Apprenticeship Accumulation Inc. (“CIBT”) and its affairs and expectations. Advanced statements are statements that are not absolute facts. Advanced statements in Q&A absolution include, after limitation, the account as to the apprehension of a abiding control amount this summer, the apprehension that a new arrival of all-embracing acceptance will arrive, and that GEC® will abide to accommodate acceptance a safe, apple-pie and advantageous ambiance in which to abstraction and live. The advanced statements are accountable to assorted risks, uncertainties and added factors that could account CIBT’s absolute after-effects or achievements to alter materially from those bidding in or adumbrated by advanced statements. Advanced statements are based on the beliefs, opinions and expectations of CIBT’s administration at the time they are made, and CIBT does not accept any obligation to amend its advanced statements if those beliefs, opinions or expectations, or added affairs should change, except as may be appropriate by law.
SOURCE: CIBT Apprenticeship Accumulation Inc.
View antecedent adaptation on accesswire.com: https://www.accesswire.com/591487/CIBT-Group-Provides-Answers-to-Frequently-Asked-COVID-19-Related-Questions
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