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No Looking Back for Luxico With Revenue Growth and Expansion Plans

June 10, 2017 Hotel News No Comments Email Email

LUXICO, Australia’s first ‘home hotel’ experienced significant revenue growth of 46% in 2015/16 and the luxury accommodation service is on track to continue this impressive growth trend with the announcement of their 2016/17 results.

Husband and wife team, Alex and Thomas Ormerod co-founded Luxico in 2013 and are pleased to reveal the company will achieve an impressive 45% revenue growth for the 2016/17 financial year with over 10,000 room nights being booked.

Managing Director Alex Ormerod said, “The results are really pleasing but not totally unexpected due to the share-economy trend providing travellers with the option to enjoy more ‘home-style’ accommodation over hotels. Luxico offers the added benefit of exclusive 24-hour concierge service and that along with the standard of luxurious properties we have available, sets us apart and helps to drive bookings.”

Luxico is also the only multi location luxury service operator in Australia with approximately 200 properties in Sydney, Melbourne, Mornington Peninsula and Palm Beach.  The company is currently expanding into new markets and by the end of 2017 will have luxury homes available in Byron Bay, Sunshine Coast and Port Douglas to service growing international demand.

Ormerod went on to say, “we are very focused on using technology to overcome logistical issues which allows us to consistently deliver great service in multiple locations and we are really looking forward to offering accommodation in these new markets providing our guests with greater variety.”

Not surprisingly, in 2016, as in 2015, Chinese visitors paid the highest room rates only booking top luxury properties across Australia, spending double the average room rate.

When it comes to domestic versus international bookings, these are on a par with 51% of nights booked by domestic travellers and 49% of room nights booked by international guests.  The UK and US represented 36% of international bookings for the 2016/17 financial year. Results also showed travellers from Germany had the highest nightly room rate indicating guests from this country seek the ultimate in luxury experiences booking only the top tier properties.

Luxico is also the only operator fully integrated with the international travel trade industry with product offered by travel agent partners worldwide as a core distribution channel including Abercrombie &Kent, Quintessentially and American Express Travel.

Luxico anticipates international bookings will continue to rise with the recent airline announcement of direct flights from London to Perth starting in March next year.

For more information on Luxico visit http://luxico.com.au/

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