Friday, January 28, 2011

Serviced Apartments

"Although often maligned for poor returns, the serviced-apartment sector was boosted last year through the release of a CB Richard Ellis report that predicted the sector would become a dominant part of the accommodation market.

According to the report, 75 per cent of new accommodation projects either planned or under construction involve serviced apartments, partly because of the comparative cost benefits of serviced apartments to conventional hotels.

Serviced apartments were introduced to the Australian market in the 1970s and at present there are about 12 major operators that are estimated to provide about 25 per cent of all short-term accommodation."

From Article about Oaks Resorts buying the management rights for Mon Koko

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