Serviced Apartment Market

The Global Serviced Apartment Market is estimated to be valued at USD 124.16 Bn in 2025 and is expected to reach USD 284.93 Bn by 2032, exhibiting a compound annual growth rate 12.6% from 2025 to 2032. The global serviced apartment market represents a dynamic and rapidly evolving sector within the hospitality and real estate industries, offering a compelling alternative to traditional hotel accommodations and conventional residential rentals. Serviced apartments combine the comfort and privacy of residential living (CAGR) of with the convenience and services typically associated with hotel stays, featuring fully furnished units equipped with kitchens, living areas, and housekeeping services. This accommodation model has gained significant traction among business travelers, extended-stay guests, corporate relocations, and leisure tourists seeking flexible, cost-effective lodging solutions. The market encompasses various property types, from luxury high-rise buildings in metropolitan areas to boutique properties in suburban locations, catering to diverse customer segments including corporate clients, individual travelers, and families.

Market Dynamics

The global serviced apartment market is propelled by several key drivers that are reshaping the accommodation landscape and driving sustained growth across multiple regions. The primary growth driver stems from the evolving preferences of business travelers and corporate clients who increasingly seek cost-effective, flexible accommodation solutions that offer greater space, privacy, and home-like amenities compared to traditional hotel rooms, particularly for extended stays and relocations. The rise of remote work culture and digital nomadism has created a substantial demand for fully equipped living spaces that serve as temporary offices, while urbanization trends and increasing business travel activities in emerging markets continue to expand the customer base.

Key Features of the Study

• This report provides in-depth analysis of the global serviced apartment market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2025–2032), considering 2024 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global serviced apartment market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Marriott International, Inc., The Ascott Limited, Oakwood Worldwide, InterContinental Hotels Group (IHG), Fraser Hospitality, Staybridge Suites, Citadines Apart'hotel, Residence Inn by Marriott, Hilton Worldwide Holdings Inc., Accor S.A., Sonder Holdings Inc., Wyndham Hotels & Resorts, Blueground, Taj Hotels, and Greet Hotels
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global serviced apartment market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global serviced apartment market

Market Segmentation

• Type Insights (Revenue, USD Bn, 2020 - 2032)
• Luxury Serviced Apartments
• Mid-Range Serviced Apartments
• Budget Serviced Apartments
• Others
• Application Insights (Revenue, USD Bn, 2020 - 2032)
• Business Travelers
• Leisure Travelers
• Long-Term Stay
• Others
• Booking Mode Insights (Revenue, USD Bn, 2020 - 2032)
• Direct Booking
• Online Travel Agencies
• Corporate Contracts
• Online
• Lease Duration Insights (Revenue, USD Bn, 2020 - 2032)
• Long-Term (More Than 30 Nights)
• Short-Term (Less Than 30 Nights)
• Regional Insights (Revenue, USD Bn, 2020 - 2032)
• North America
• U.S.
• Canada
• Latin America
• Brazil
• Argentina
• Mexico
• Rest of Latin America
• Europe
• Germany
• U.K.
• Spain
• France
• Italy
• Russia
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• ASEAN
• Rest of Asia Pacific
• Middle East
• GCC Countries
• Israel
• Rest of Middle East
• Africa
• South Africa
• North Africa
• Central Africa
• Key Players Insights
• Marriott International, Inc.
• The Ascott Limited
• Oakwood Worldwide
• InterContinental Hotels Group (IHG)
• Fraser Hospitality
• Staybridge Suites
• Citadines Apart'hotel
• Residence Inn by Marriott
• Hilton Worldwide Holdings Inc.
• Accor S.A.
• Sonder Holdings Inc.
• Wyndham Hotels & Resorts
• Blueground
• Taj Hotels
• Greet Hotels

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