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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 | Jul 2016

Just like home: Demand has risen as business travellers have sought home-style amenities

IBISWorld’s Serviced Apartments market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 12-17
6.0%
Annual Growth 17-22
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Profit
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Employment
18,338
Businesses
704
Industry Analysis & Industry Trends

The Serviced Apartments industry has grown strongly over the past five years. The industry has steadily drawn market share away from other operators in the Accommodation subdivision, such as hotels and motels, which have struggled with fluctuating levels of domestic travel, a high Australian dollar over the early part of the period and global economic uncertainty. The industry's strong growth is due to the generally low prices charged by providers, and serviced apartments' greater offerings of in-room facilities compared with other accommodation options. These factors make serviced apartments attractive to many guests. As a result, industry revenue is expected to increase by an annualised 6.0% over the five years through 2016-17, to $3.2 billion. This includes forecast 4.0%... purchase to read more

Industry Report - Industry Investment Chapter

The Serviced Apartment industry exhibits a moderate level of capital intensity. 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-end activities, including cleaning and maintenance. However, compared with hotels, motels and resorts, serviced apartments require relatively less labour as rooms are serviced less frequently and many serviced apartments do not have on-site restaurants (which are typically labour-intensive).

As a result, IBISWorld estimates that for every dollar paid as wages, operators are required to invest $0.25 in capital... 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 (more 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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