Quest continues to perform at top end of market

MEDIA RELEASE

For immediate release

14 August 2013

Quest continues to perform at top end of market

Quest Serviced Apartments are performing at the top end of the accommodation sector in a comparison to national average as reported in the Quarter Ending June 2013 guest night statistics. 

While there was growth in room nights across the whole sector last year, Quest has continued to outperform into the first quarter of 2013 (ending June), by trading nationally at 35% above the national average with a network result of 70%, the data from Statistics New Zealand reveals.

Quest is the largest serviced apartment group in New Zealand and with more than 33 operations nationally, and three more expected to open in 2014, it will soon also be the largest New Zealand accommodation group, being in more locations than any other group providing a consistent experience in all of the key business centres of New Zealand.

Stephen Mansfield CEO of Quest Serviced Apartments in New Zealand said it was pleasing to see the overall growth in the visitor nights over last year and that the Quest network is continuing to perform at the top end of the market.

“As we continue to expand into new parts of New Zealand, constantly improve our service and facilities and strengthen our networks marketing programme, we are confident that our ability to trade at the top end of the market will only strengthen.

“We are particularly pleased with the performance being delivered in some of the key regions, including Hamilton, Invercargill, New Plymouth, Rotorua, Napier and Palmerston North, which are not only showing a similar gap but a continuing trend to widen.”

The continuing strong occupancy is also allowing Quest to strengthen its average rate performance, improving the overall profitability of the businesses and encouraging reinvestment, he said.

ENDS

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