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- Lifestyle development group Ingenia Communities (INA) is one of many Australian businesses looking forward to eased restrictions as the COVID-19 curve flattens
- Holiday communities in New South Wales and Queensland are expecting eased restrictions in June — and Ingenia is already seeing bookings
- Unlike other groups, Ingenia has already seen stable income from its retirement community and its land development portfolios
- Shares in the company are unchanged today, trading for $4.14 per share
Lifestyle development group Ingenia Communities (INA) is one of many Australian businesses looking forward to eased restrictions as the COVID-19 curve flattens.
Like many, the pandemic and its call for social distancing has affected holiday spots and water parks.
Unlike other businesses, however, stable revenue from residential areas and senior care centres has kept the business afloat.
With considerable investment in rentals and land developments, the business has been dealt a better hand than others.
Regardless, holiday communities in New South Wales and Queensland are expecting eased restrictions in June — and Ingenia is already seeing bookings.
“We had anticipated increased demand for affordable domestic travel once restrictions eased and our team has been busy preparing our parks to reopen,” Ingenia Chief Executive Simon Owen said on Wednesday.
“We are seeing dramatic increases in website traffic, phone enquiries and online bookings in response to recent announcements,” he continued.
New South Wales is anticipating to open holiday parks on the first day of June, while Queensland has circled June 12 on its calendar.
In response, Ingenia is opening its holiday parks in time for the school holidays, including locations in New South Wales for the June long weekend.
With an edge over holiday park competitors, Ingenia has been reliant on its portfolio of land developments and rental communities while Australians stay indoors.
“The business is continuing to deliver stable rental cash flows from our portfolio of land lease and seniors’ rental communities, and recent easing of restrictions are positive for our holiday parks and new home sales,” Simon Owen added. “Ingenia remains well placed, with a strong balance sheet and improving trading conditions”.
The company holds nearly 4000 land developments, most benefitting from the Commonwealth Government’s pension payments and rent assistance scheme.
Ingenia’s ‘Gardens’ retirement developments have recently reached an all-time occupancy of 93.5 per cent.
Shares in the company are unchanged today, trading for $4.14 per share at 10:42 am AEST.
