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Serviced Apartments in Australia Industry Data and Analysis
The Serviced Apartments industry has experienced significant volatility in recent years. The outbreak of the COVID-19 pandemic saw a drastic drop in occupancy rates because of international and domestic travel restrictions, posing a significant challenge to meeting fixed costs. Government stimulus like the JobKeeper payment scheme and strategic diversification of revenue sources helped businesses survive the pandemic years. Easing restrictions in 2022 saw a tourism revival, boosting occupancy rates and profit margins. Industry employment surged as establishments hired additional casual staff to meet rebounding demand. Pre-pandemic investments in new serviced apartments also facilitated growth in business numbers.
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What's included in this industry analysis
IBISWorld's research coverage on the Serviced Apartments industry in Australia includes market sizing, forecasting, data and analysis from 2014-2029. The most recent publication was released August 2024.
About this industry
What's this industry report about?
The Serviced Apartments industry in Australia operates under the ANZSIC industry code H4404. The industry comprises enterprises that operate serviced apartments for short-term or long-term accommodation. Serviced apartments contain a kitchen or kitchenette and usually have separate lounge or dining facilities. Serviced apartments are often cheaper than equivalent hotel rooms as they have fewer complex facilities and provide fewer daily services. Related terms covered in the Serviced Apartments industry in Australia include tariff, management agreement and occupancy rate.
What's included in this industry?
Products and services covered in Serviced Apartments industry in Australia include Food and beverages, Other products and services and Upscale and upper midscale accommodation.
What companies are included in this industry?
Companies covered in the Serviced Apartments industry in Australia include Accor Asia Pacific, QSA and Oaks Hotels Australia.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Serviced Apartments industry in Australia.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Serviced Apartments industry in Australia.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Serviced Apartments industry in Australia.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Serviced Apartments industry in Australia. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Serviced Apartments industry in Australia. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Serviced Apartments industry in Australia. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Serviced Apartments industry in Australia. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Serviced Apartments industry in Australia.
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Frequently Asked Questions
What is the market size of the Serviced Apartments industry in Australia in 2026?
The market size of the Serviced Apartments industry in Australia is $6.1bn in 2026.
How many businesses are there in the Serviced Apartments industry in Australia in 2024?
There are 756 businesses in the Serviced Apartments industry in Australia, which has grown at a CAGR of 3.6 % between 2019 and 2024.
How may import tariffs affect the Serviced Apartments industry in Australia?
The Serviced Apartments industry in Australia is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Serviced Apartments industry in Australia?
The Serviced Apartments industry in Australia is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Serviced Apartments industry in Australia grown or declined over the past 5 years?
The market size of the Serviced Apartments industry in Australia has been growing at a CAGR of 7.6 % between 2019 and 2024.
What is the forecast growth of the Serviced Apartments industry in Australia over the next 5 years?
Over the next five years, the Serviced Apartments industry in Australia is expected to grow.
What are the biggest companies in the Serviced Apartments industry in Australia?
The biggest companies operating in the Serviced Apartments industry in Australia are Accor Asia Pacific, QSA and Oaks Hotels Australia
What does the Serviced Apartments industry in Australia include?
Upscale and upper midscale accommodation and Luxury and upper upscale accommodation are part of the Serviced Apartments industry in Australia.
Which companies have the highest market share in the Serviced Apartments industry in Australia?
The company holding the most market share in the Serviced Apartments industry in Australia is Accor Asia Pacific.
How competitive is the Serviced Apartments industry in Australia?
The level of competition is high and increasing in the Serviced Apartments industry in Australia.
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