A new strategic investment partnership between Australian-based MyStay International and US-based AmeriStudent has ushered in the creation of the world’s largest consortium of homestay providers.
“We see the US as a major growth territory for our businesses”
The partnership, which sees AmeriStudent invest an undisclosed amount, will facilitate growth across MSI’s global projects, including the Australian Homestay Network, American Homestay Network and MyStay English, as well as broaden its reach into Asia and the US.
“Asia is the main market for inbound students to our key territories of Australia and US,” said MSI director David Bycroft.
“Our new partner is well established in both US and Asia, and we see the US as a major growth territory for our businesses.”
Speaking with The PIE News, Bycroft said the partnership had come after an ongoing search for strategic investment, and said now in place, was expected to double the volume of student homestay placements to 20,000 in the next three years.
“AmeriStudent relates well to the high-quality standards that we have introduced to the Homestay industry and their reach into Asia will see us bring many more students to Australia as well as the USA,” he said.
AmeriStudent chief executive Adam Lee said the decision to invest in MSI came after observing the company’s growth over several years.
“AmeriStudent and MSI have been dedicated, for years, to developing standards and quality services for students studying abroad,” he said.
“Our joint venture brings the best of both into one strategic focus, to benefit students and the industry. This partnership opens new global networks and opportunities for all AmeriStudent relationships and entities.”
Outside of Asia and the US, Bycroft said MSI would use the funding partnership to expand into more territories, such as Europe and Canada, and broaden its other services.
“Our other products are also expected to expand rapidly through this arrangement,” he said.
“We have already started plans to look into helping solve other international student accommodation issues in high student demand territories.”
It has been a busy time for MSI, which launched MyStay English and the Irish Homestay Network in 2018.
