SERVICED APARTMENTS are enjoying healthy growth in Australia, providing increasingly intense competition to the hotel industry.
Between 2000 and 2004, the number of serviced apartment rooms increased by 24 per cent, contrasting with a 2 per cent rise in hotel rooms.
Tourism & Transport Forum (TTF) Australia spokesman Peter Staveley confirmed this upward trend. 'The continuing boom in the serviced apartment sector was anticipated and it is pleasing to see the increase in accommodation takings across all sectors,' he said.
'The 9.1 per cent increase in total accommodation takings of hotels, motels and serviced apartments between December quarters 04 and 05 is a solid indicator of a healthy industry.
'Considering that occupancy levels remained relatively constant over the same period - with only a 0.5 per cent increase - the increase in takings are a welcome boost to yield.
'The performance of five- and four-star establishments is continuing to improve, with a respective 3.2 per cent and 7 per cent increase in revenue per available room. The star performers of the industry, undoubtedly, are serviced apartments on all indicators.'