Quarterly Update

As you will read, our local region is moving on a number of fronts to leverage the tremendous potential of the next generation of wireless networking technology, 5G, and establish itself as a leading hub of innovation, development and commercialization around that technology. Integral to that environment, enterprise software Accelerator L-SPARK is helping drive innovation in a number of key new industry sectors. And the Alacrity Global program now has its latest member by virtue of a partnership with the University of Ottawa here in our city.

Further afield, management at Alacrity Canada company Pretio Interactive took advantage of an opportunity to exit a portion of the business from the portfolio and spin a new firm out as part of that process. Hutsix in the U.K. surpassed the 30,000-user mark of its online security training platform, driven by the ever-stronger need for better defenses against the growth in digital cyber attacks, in some ways accelerated by the realities of the pandemic and global geo-political tensions. And speaking about effects of the pandemic, the sometimes-stunning growth experienced by many technology companies over the past 18-24 months has created renewed scrutiny around the need for reforms in international tax and other policies, having the potential to influence investment and other trends in the process.

On the commercial real estate side of the business, management is navigating their way through a demand for space that is strong but different in several key ways. Tenant leasing has not declined, but demands for how that space is ‘fitted up’ is evolving to accommodate more social distancing, reworked central meeting areas and public areas, and other nuances brought about by the pandemic.

And in terms of the hospitality operations, emergence from lockdowns is occurring at different rates in different regions, however there is no denying demand has been pent up. As restrictions are removed, occupancy rates and facility bookings are growing strongly. If the demand for golf reservations, for example, can be viewed as any sort of future indicator, the challenge will shift quickly to keeping up.

So please read on, as I trust you will enjoy these latest insights. Thank you for the continued interest and take good care.

Kind Regards,
Terry Matthews, Chairman