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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

IBISWorld’s Serviced Apartments market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

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 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 those 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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