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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 | Sep 2013

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

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 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. However, the Serviced Apartments industry has gained market share and grown revenue in all but one of the past 10 years. 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 competitors, 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 SWOT Analysis Chapter

The Serviced Apartments industry is in the mature phase of its life cycle. While growth rates have been modest over the past five years (with one year of declining revenue in 2008-09), the industry's fundamentals remain largely the same, supported by external growth opportunities. The majority of industry growth has been driven by the recovery of the global economy and strong tourism growth rates. Over the 10 years through 2018-19, IBISWorld expects industry value added to grow at an annualised rate of 2.1%, compared with GDP growth of 2.5% over the same period. While the industry grows, it is still expected to underperform the overall economy.

Growth in the number of international travellers, especially from Asian markets, is expected to continue over the next five years... 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 beverage provisionOther-star rating accommodationFour-star accommodation
 
Industry Activities
Operating self-contained apartments Operating serviced apartments


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