Serviced Apartments Out, Budget Hotels In - Hotel Industry news
Written: 16th April, 2008
Jones Lang LaSalle Hotels releases Australia Top Operator Survey Results Hotel operators who have developed serviced apartment product as a preference over hotels have been more successful at growing their portfolio in recent years. According to Jones Lang LaSalle Hotels' annual Top Operator Survey, this has been the main growth engine for the Australian accommodation market over the last seven years but there are signs that hotels are coming back into favour. The Survey indicates that rooms under management by the Top 10 Operators have increased by approximately 64% since 2000.
'In 2007, Australia's largest hotel operators, Accor Asia Pacific Corporation (AAPC) and Stella Hospitality Group both increased rooms under management by concentrating on the serviced apartment sector - both primarily in the 4-star arena,' said Mr Gus Moors, Senior Vice President, Jones Lang LaSalle Hotels.
AAPC remains Australia's Top Accommodation Operator with 18,591 rooms under management - having grown by 11% during 2007. Stella Hospitality Group maintained 2nd place and continued on an aggressive path, increasing rooms under management by 27%. InterContinental Hotels Group (IHG) also retained 3rd spot.
Source Hotel News Resource