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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 2015

A good offer: A depreciating Australian dollar will help boost demand for industry

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 10-15
2.3%
Annual Growth 15-20
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Profit
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Employment
15,589
Businesses
633
Industry Analysis & Industry Trends

The Serviced Apartments industry has been the steadiest 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 industry revenue to increase by an annualised 2.3% to $3.0 billion.

While the Serviced Apartments industry is well 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. These factors have been driving Australian tourists overseas at the expense of the domestic tourism market... purchase to read more

Industry Report - Industry Key Buyers Chapter

The Serviced Apartments industry exhibits a low level of market share concentration based on revenue generated by the major industry players. IBISWorld forecasts that the industry's top four players collectively account for less than 40% of industry revenue. While there are many large chains that operate and manage a significant number of rooms through lease agreements, these operators earn comparatively less revenue than owner-operators. Owner-operators are typically independent establishments that earn more revenue than leased serviced apartment operators, who also tend to pay lease and/or franchise fees.

Market share concentration is expected to increase slightly 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 beverageOther star-rated accommodationFour-star accommodation
 
Industry Activities
Operating self-contained apartments Operating serviced apartments


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