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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 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 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 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, 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 2019-20, IBISWorld expects industry value added to grow at an annualised rate of 2.0%, compared with GDP growth of 2.7% 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 beverageOther star-rated accommodationFour-star accommodation
 
Industry Activities
Operating self-contained apartments Operating serviced apartments


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