STARS RE-ALIGN WITH NEW PROPERTY REVIEW CYCLE
· 3 year property review cycle to reflect industry best practices
· Consumer ratings and reviews to complement Star Ratings
· Asset management to become a focus
· Allowances & Dispensations to recognise property refurbishments
· Consistency and reliability key drivers behind change
A new 3 year property review cycle has been confirmed for the Star Rating scheme in Australia.
Following a comprehensive review of operations and after extensive consultation with licensees and peak industry bodies, our decision to extend the review cycle supports industry best practice such as a 3-5 year cycle for ‘soft’ refurbishments and a 7-10 year cycle for ‘hard’ refurbishments.
Under previous management Star Rating property visits were scheduled every 18 months. However, this timeframe was reduced to every 12 months following the launch of the quality-based criteria in 2011. This cycle was simply unrealistic for commercial accommodation operators and did not allow enough time to effectively plan, negotiate costs and access finance, and to then carry out the work required.
Our focus is now on planning the logistics to support the new 3 year property review cycle. Our priority will be to schedule property visits and reviews for new licensees as well as existing licensees we have not visited in the past 18 months.
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