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 Locations Chapter
The spread of serviced apartment operators has generally followed Australia's population distribution. Serviced apartments are heavily weighted towards business hubs and holiday destinations which consequently houses a high concentration of population. Sydney, Melbourne and Brisbane are Australia's busiest business locations and have the highest concentrations of serviced apartments, collectively accounting for more than 75% of establishment locations. Approximately 28% of serviced apartment guests are domestic business travellers, although this percentage is greater in city locations. On the other hand, serviced apartments in regional holiday destinations such as the Gold Coast, the Sunshine Coast and northern New South Wales, attract a higher number of leisure travellers... purchase to read more