Dallas, Texas, Nov. 08, 2021 (GLOBE NEWSWIRE) — Priority Aviation, Inc. (OTC Pink: PJET) (“PJET”) is on track to launch its Student Housing By Owner (SHBO) App next month in December, bringing a yet untapped real estate sector into the student housing market.
PJET management anticipates the App launch may coincide with a student housing demand boom as more students studying remotely during Covid now return to campus into a student housing market with even less conventionally available student housing options than usual due to the economic impact of Covid.
Student housing is already in short supply with only an estimated 22% of students living on campus. Off campus options are also limited and are likely to be even more limited as students studying remotely during the Covid Pandemic begin to return to campus.
With students away from campus during the height of the Pandemic, many off campus student housing operations have been negatively impacted by the drop in rental revenue and some may not be in business any longer in 2022.
For instance, one prominent off campus student housing concern that might not be in operation next year, Nelson Partners, is making national headlines.
PJET anticipates its Student Housing App to resonate with the resource constrained student housing market. In light of the negative economic impact of Covid on student housing operations, PJET’s alternative student housing option could see even more student housing searches next year than if it launched in a relatively normal economy.
In addition to introducing an App intended to be the Airbnb of student housing making it easy for anyone with an extra bedroom, garage apartment, or empty house near a campus to now turn that extra space into income, the App is also architected to optimize advertising to the university student demographic.
21 million U.S. college students are estimated to have over $376 billion in spending power. In 2020, students spent $39 billion on food alone. Annual student spending on clothes and accessories is estimated at $67 billion. Universities themselves spend approximately $1 billion annually advertising to the university student demographic.
See College Student Spending Habits For 2021 to learn more.
PJET’s Student Housing App design includes an artificial intelligence engine intended to optimize the App’s value to businesses looking to attract the university student demographic.
PJET is also building a brick and mortar component of its business. The company has reached terms to fund and build a student housing residential building in Texas that will support a small private university with an enrollment of approximately 1200 students. This is the first such project planned to support smaller universities and complement the Student Housing App initiative.
PJET redirected its operations earlier this year toward the student housing market. The majority shareholder of PJET, ACI Conglomerated, is also the majority shareholder of Puration, Inc. (OTC Pink: PURA) and North American Cannabis Holdings, Inc. (OTC Pink: USMJ), and represents an initiative to diversify outside the cannabis industry. Look for much more to be coming soon on the company’s new business direction.
Visit the company’s new website periodically to look for the latest updates:
Company Website – www.pjet-info.com
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
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