Centurion Corporation Limited acquires a student accommodation in Australia
Centurion Corporation Limited (hereinafter to be referred as Centurion) is one of the fast growing dormitory vendors in the region which has been pointed out in our early post ‘the biggest dormitory operator in Malaysia’ and ‘Singapore dormitory’s vendor expands international market’. The recent successful expansion in student accommodation is a great stride of Centurion in the achievement of sustainable competitive advantage.
The news that ‘Centurion made its first foray into the student accommodation business of RMITVillage and an adjoining car park building in Melbourne, Australia…’ (Centurion Corporation Limited 2013) was released to public on 28 Nov, 2013. The student hostel is located in CBD of Melbourne and ‘approximately a 5 minute tram ride or a 10 minute walk to RMITUniversity and across the road from the University of Melbourne’ (RMIT Village 2013 (1)). It hosts ‘approximately 456 residents’ (RMIT Village 2013 (2)) with providing customized management, comprehensive facilities and focusing on well-being of residents.
The successful growth strategies of Centurion can be summarized to broaden its business scope into various accommodation types and expand into other geographical locations. The acquisition on student accommodation not only widens the scope of business but also scalable business model for Centurion. Just like James Tobin who was winner of the 1981 Nobel Prize in economics said, ‘do not put all your eggs into one basket’ (Wikipedia 2013). Through executing dynamic marketing strategy and providing fully integrated service, it is no doubt that the goal of Centurion’s accommodation portfolio, ‘grow to a total of over 50,000 beds by the end of 2015’ (Centurion 2013), will be achieved.
Centurion Corporation Limited 2013, Melbourne Acquisition Marks Centurion Corp’s Foray Into The Student Accommodation Business, [online]. Available at URL: http://centurion.listedcompany.com/newsroom/20131128_150649_OU8_EF4E4395ACEEB02148257C3100220E5D.1.pdf [Accessed 13 Dec 2013].
RMIT Village 2013 (1), Location, [online]. Available at URL: http://www.rmitvillage.com.au/location.html [Accessed 13 Dec 2013].
RMIT Village 2013 (2), About Us, [online]. Available at URL: http://www.rmitvillage.com.au/the-village/about-us.html [Accessed 13 Dec 2013].
Wikipedia 2013, James Tobin, [online]. Available at URL: http://en.wikipedia.org/wiki/James_Tobin [Accessed 13 Dec 2013].
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