Serviced Apartment Market Size Projected to Reach $379.69 billion by 2034 | 11.85%

According to Straits Research, the global serviced apartment market size was valued at $139.74 billion in 2025 and is projected to reach $379.69 billion by 2034, registering a CAGR of 11.85% during the forecast period 2026–2034.

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 Segments

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