Global Serviced Apartment Market Revenue Grows at a CAGR of 11.85% 

Introduction

Straits Research published a report, “Global Serviced Apartment Market, 2025-2033”. According to the study, the market size is valued at USD 125.42 billion in 2024 and is projected to expand to USD 340.23 billion by 2033, registering a CAGR of 11.85% 

Market Dynamics 

The global serviced apartment market is driven by the rising demand for flexible and cost-effective lodging solutions, especially among millennials and remote workers. Increasing urbanization and rising disposable incomes are expanding the market in key regions. Opportunities exist in developing eco-friendly and sustainable serviced apartments, integrating smart technologies for seamless guest experiences, and tapping into emerging markets in the Asia-Pacific and the Middle East.

However, hotels continue to attract travelers with loyalty programs, consistent services, and established brand recognition, while platforms like Airbnb and Vrbo offer flexible, often more affordable alternatives for short-term stays. This competition limits pricing power and occupancy rates for serviced apartment operators.

Market Highlights

• Type Insights: The short-term (<30 Nights) segment holds the highest market share of over 60%, while the long-term (>30 Nights) segment records the fastest CAGR.
• End-Use Insights: The corporate and business travelers segment holds the highest market share of about 50%, while the expats and relocators segment records the fastest CAGR of 14.23%.
• Booking Mode Insights: The direct bookings segment holds the highest market share, while the corporate contracts segment records the fastest CAGR of 13.54%.
• Regional Insights: North America dominates with over 35% market share, due to strong corporate travel demand and extended stays.

Competitive Players

1. The Ascott Limited
2. Frasers Hospitality
3. The Serviced Apartment Company
4. Staycity Ltd
5. Habicus Group
6. THE SQUA.RE SERVICED APARTMENTS
7. com
8. Viridian Apartments
9. Adagio
10. Marriott International, Inc.

Recent Developments

In July 2025, Central Park, a prominent real estate developer, announced a ₹550 crore investment to develop a serviced apartment project named Selene in Sohna, near Gurgaon. This project will be situated within the Central Park Flower Valley township, covering an area of 3.818 acres.

Segmentation

1. By Type
   1. Long-Term (>30 Nights)
   2. Short-Term (<30 Nights)
2. By End-Use
   1. Corporate/Business Traveler
   2. Leisure Traveler
   3. Expats and Relocators
3. By Booking Mode
   1. Direct Booking
   2. Online Travel Agencies
   3. Corporate Contracts