Global Serviced Apartment Market Size is valued at USD 123.9 Bn in 2024 and is predicted to reach USD 405.1 Bn by the year 2034 at a 12.7% CAGR during the forecast period for 2025-2034.
A serviced apartments are fully furnished apartments that can be rented for short or long periods of time. It has many of the same services as a hotel, like cleaning, utilities, and sometimes even concierge services. They offer more space, privacy, and the comforts of a home-like setting, with a kitchen, living room, and bedrooms that are different from each other. There are a lot of business travelers, tourists, and people moving for long periods of time who like serviced apartments because they are cheaper and more flexible than standard hotels.
Furthermore, given that travellers are becoming more interested in distinctive, unique situations, serviced flats can offer the ease and adaptability required for lengthier or more interactive excursions. Furthermore, sophisticated serviced apartments that integrate cutting-edge amenities and intelligent technology greatly improve visitor enjoyment, propelling market expansion.
However, regulations that are too stringent to ensure the health and safety of the base edit the product's lack of capacity to prevent fog in conditions with significant temperature swings or elevated humidity. The demand for serviced apartments carries the risk of adverse impacts or accidental alterations. The safety and specificity of base editing tools must be guaranteed before they can be utilized extensively. The potential for unintentional genomic alterations can impede regulatory approvals and market acceptance. Maintaining investigations are focused on advancing serviced apartment techniques to decrease unwanted consequences and enhance risk. However, managing these difficulties remains a major roadblock to the industry's growth.
The serviced apartment market is segmented based on type, end-use, and booking mode. By type, the market is divided into long-term (>30 nights) and short-term (
The long-term serviced apartment market will hold a major global market share in 2022. Because they combine hotel-quality services with the familiarity of residence, serviced flats are becoming increasingly popular for extended visits. Relative to conventional hotels, serviced residences provide greater space, security, and adaptability. They are perfect for longer stays because they have facilities such as distinct living areas and fully functional appliances. Moreover, they frequently offer longer-term price reductions because their rates are more affordable than accommodations, supporting the segment's expansion.
The direct bookings industry uses serviced apartments because there are no intermediaries to charge; this direct method increases earnings and may result in higher-quality prices for clients. It also enables lower prices. Direct bookings also make better customer gathering possible, opening the door to customized products and services and individualized marketing plans that increase client retention and referrals, especially in countries like the US, Germany, the UK, China, and India.
The North American serviced apartment market is expected to document the highest market share in revenue in the near future. This can be attributed to strong business demand, the development of more mobility employees, and the rising desire for adaptable, homelike housing. These businesses are always developing new ways to satisfy changing customer needs. They integrate smart home technology, better health facilities, and adaptable scheduling choices to stay ahead of the competition in this developing sector. In addition, Asia Pacific is predicted to grow rapidly in the global serviced apartment industry because of the rise in travellers, corporate travel, and the growing tourist industry in developed nations. Large corporations are drawn to these nations due to their expanding economy, which increases the need for prospective lodging options for executives.
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Report Attribute |
Specifications |
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Market Size Value In 2024 |
USD 123.9 Bn |
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Revenue Forecast In 2034 |
USD 405.1 Bn |
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Growth Rate CAGR |
CAGR of 12.7% from 2025 to 2034 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, End-Use, Booking Mode. |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Ascott Limited, Frasers Hospitality, The Serviced Apartment Company, Staycity Ltd, Habicus Group, THE SQUA RE SERVICED APARTMENTS, Adiahotels.com, Viridian Apartments, Adagio, and Marriott International, Inc. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Serviced Apartment Market Snapshot
Chapter 4. Global Serviced Apartment Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Type Estimates & Trend Analysis
5.1. by Type & Market Share, 2024 & 2034
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Type:
5.2.1. Long-Term (>30 Nights)
5.2.2. Short-Term (
Chapter 6. Market Segmentation 2: by End User Estimates & Trend Analysis
6.1. by End User & Market Share, 2024 & 2034
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by End User:
6.2.1. Corporate/Business Traveler
6.2.2. Leisure Traveler
6.2.3. Expats and Relocators
Chapter 7. Market Segmentation 3: by Booking Mode Estimates & Trend Analysis
7.1. by Booking Mode & Market Share, 2024 & 2034
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Booking Mode:
7.2.1. Direct Booking
7.2.2. Online Travel Agencies
7.2.3. Corporate Contracts
Chapter 8. Serviced Apartment Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. North America
8.1.1. North America Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
8.1.2. North America Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by End User, 2021-2034
8.1.3. North America Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by Booking Mode, 2021-2034
8.1.4. North America Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
8.2. Europe
8.2.1. Europe Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
8.2.2. Europe Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by End User, 2021-2034
8.2.3. Europe Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by Booking Mode, 2021-2034
8.2.4. Europe Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
8.3. Asia Pacific
8.3.1. Asia Pacific Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
8.3.2. Asia Pacific Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by End User, 2021-2034
8.3.3. Asia-Pacific Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by Booking Mode, 2021-2034
8.3.4. Asia Pacific Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
8.4. Latin America
8.4.1. Latin America Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
8.4.2. Latin America Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by End User, 2021-2034
8.4.3. Latin America Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by Booking Mode, 2021-2034
8.4.4. Latin America Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
8.5. Middle East & Africa
8.5.1. Middle East & Africa Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
8.5.2. Middle East & Africa Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by End User, 2021-2034
8.5.3. Middle East & Africa Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by Booking Mode, 2021-2034
8.5.4. Middle East & Africa Serviced Apartment Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. The Ascott Limited
9.2.2. Frasers Hospitality
9.2.3. The Serviced Apartment Company
9.2.4. Staycity Ltd
9.2.5. Habicus Group
9.2.6. THE SQUA.RE SERVICED APARTMENTS
9.2.7. adiahotels.com
9.2.8. Viridian Apartments
9.2.9. Adagio
9.2.10. Marriott International, Inc.
9.2.11. Other Market Players
Serviced Apartment Market By Type-
Serviced Apartment Market By End-use-
Serviced Apartment Market By Booking Mode-
Serviced Apartment Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
