"Thriving" corporate sector sees Quest invest in WA

"Thriving" corporate sector sees Quest invest in WA
By admin

Quest Serviced Apartments will more than double its room numbers in Western Australia over the next two years as it responds to growing demand from the “thriving” corporate sector.

Among the five new properties are three new properties in central Perth, another in Rockingham and a fifth in Fremantle.

Once they are all open, the five new properties combined with its existing nine in the state, will take Quest’s WA room tally to 871, able to accommodate more than 60,000 extended-stay business travellers each year – a 128% increase.

The growth comes on the back of “favourable economic conditions” in the state, according to chief executive Zed Sanjana.

“Demand for extended stay accommodation is currently exceeding supply in Australia, nowhere more so than in Western Australia,” he said. “Perth has leading occupancy rates with high room yield growth which is set to continue thanks to the State Government’s commitment to growing the economy.”

Sanjana highlighted a number of infrastructure developments currently planned in the surrounding areas, with investment ongoing despite a dip in commodity prices as a number of other industries flourish. In Perth, these include a major sporting stadium and Elizabeth Quay as well as the $750 million revamp of Perth Airport currently underway.

Premier Colin Barnett welcomed Quest’s growth plans for the State, highlighting the benefits of the five developments as job creation and increased accommodation options for the “booming” corporate market.

There are eight new Quest properties already scheduled to open nationally in 2014 across a range of CBD, suburban and regional locations. 

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