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 2013-14, IBISWorld expects revenue will increase by an annualised 3.1% to $3.0 billion.
While the Serviced Apartment industry is strongly placed among accommodation service providers, the industry has battled a strong Australian dollar and cheap international airfares for much of the past five years... purchase to read more
Industry Report - Industry Products Chapter
Serviced apartments can be segmented via star ratings, which depend on the quality of rooms, facilities and services. For example, five-star accommodation, usually situated in prime locations, has high room rates and generally provides 24-hour room service and reception, on-site restaurant facilities and quality furniture and fittings in the rooms. Accommodation with three stars or fewer provides considerably fewer services and facilities and is usually priced accordingly. These star ratings are assessed by Star Ratings Australia, a division of Australian Motoring Services that consists of NRMA, RACV, RACQ, RAASA, RACWA and RACT... purchase to read more