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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 | May 2014

Foreign service: The industry will work to capture more of the international market

The Serviced Apartments market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 09-14
3.1%
Annual Growth 14-19
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Profit
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Employment
15,930
Businesses
630
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 2013-14, IBISWorld expects revenue will increase by an annualised 3.1% to $3.0 billion.

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

Industry Report - Industry Investment Chapter

The Serviced Apartment industry exhibits a medium level of capital intensity. IBISWorld estimates that for every dollar paid as wages, operators are required to invest $0.27 in capital. The Serviced Apartments industry, like other industries in the hospitality sector, is labour-intensive. The industry requires high levels of face-to-face service in all areas of operation, from management through to a range of front-of-house and back-of-house activities, including cleaning and maintenance. However, compared with hotels, motels and resorts, serviced apartments require less labour as rooms are serviced less frequently and many serviced apartments do not have on-site restaurants (which are typically highly labour intensive)... 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 rating accommodationFour-star accommodation
 
Industry Activities
Operating self-contained apartments Operating serviced apartments


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