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Serviced Apartments in Australia: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Serviced Apartments Market Research Report | ANZSIC H4404 | Oct 2014

Home away from home: Demand from business travellers has offset reduced domestic tourism

IBISWorld’s Serviced Apartments market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 10-15
3.3%
Annual Growth 15-20
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Profit
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Employment
15,589
Businesses
631
Industry Analysis & Industry Trends

The Serviced Apartments industry has been the strongest performer in the Accommodation subdivision over the past decade. Other accommodation providers, including hotels and motels, have struggled in the wake of declining domestic tourism, a high Australian dollar and global economic uncertainty. In the five years through 2014-15, IBISWorld expects revenue will increase by an annualised 3.3% to $3.1 billion.

While the Serviced Apartments industry is strongly placed among accommodation service providers, it has had to contend with a strong Australian dollar and cheap international airfares for much of the past five years... purchase to read more

Industry Report - Industry Locations Chapter

The spread of serviced apartment operators has generally followed Australia's population distribution. Serviced apartments are heavily weighted towards business hubs and holiday destinations which consequently houses a high concentration of population. Sydney, Melbourne and Brisbane are Australia's busiest business locations and have the highest concentrations of serviced apartments, collectively accounting for more than 75% of establishment locations. Approximately 28% of serviced apartment guests are domestic business travellers, although this percentage is greater in city locations. On the other hand, serviced apartments in regional holiday destinations such as the Gold Coast, the Sunshine Coast and northern New South Wales, attract a higher number of leisure travellers... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Serviced Apartments Industry?

The Serviced Apartments industry comprises establishments that operate self-contained apartments for short-term (one to six nights), medium-term (seven nights to one month) and long-term (longer than one month) stays. Serviced apartments contain a kitchen or kitchenette and usually have separate lounge or dining facilities. Serviced apartments are generally cheaper than equivalent hotel rooms due to fewer complex facilities and fewer daily services provided.

Industry Products
Food and beverageOther star-rated accommodationFour-star accommodation
 
Industry Activities
Operating self-contained apartments Operating serviced apartments


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