Quest Serviced Apartments was awarded the Innovators Award at the Australia New
Zealand Pacific Hotel Investment Conference (ANZPHIC) today, in recognition of the
company’s long term leading role in driving the sustainable growth of the serviced
apartments market.

The award is the first of its kind, specifically acknowledging the success of the Quest
business model in the accommodation industry. The model caters for the extended stay
business traveller with flexible, spacious and comfortable serviced apartment
accommodation, delivers sustainable rent to developers and landlords, meets the
requirements of financiers and provides profitable businesses for franchisees.
On accepting the award at ANZPHIC, Quest Serviced Apartments Chairman Paul
Constantinou said “we have positioned ourselves as a market leader, establishing a
serviced apartments sector that now represents 25% of Australia’s accommodation
market, up from 10% in 1999”.

“Over the past 24 years, the Quest Group has grown to over 140 properties throughout
Australia, New Zealand and Fiji. Our focus is the corporate traveller market, accounting
for 80% of guests across our network. One of the key components of our strategy is to
respond to the location and accommodation requirements of the business traveller,
following the new development corridors of major cities, suburban growth centres and
regional hubs.” Mr Constantinou said.

In the next four months alone, four new properties will open, in Bundoora (Vic) in August,
Whyalla (SA) in September, Sydney Olympic Park (NSW) in October and Albion (QLD) in
November.

ANZPHIC is the leading industry conference, focusing on the development and
investment of the hotel industry across Australia, New Zealand and the Pacific