Global Apartment Hotel
Market Report
2024
The Global Apartment Hotel Industry's Compound Annual Growth Rate will be 10.90% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
PDF Access: Password protected PDF file, Excel File Access: Quantitative data, PPT Report Access: For the presentation purpose, Cloud Access: Secure Company Account Access.
Share your contact details to receive free updated sample copy/pages of the recently published edition of Apartment Hotel Market Report 2024.
The Global Apartment Hotel Industry's Compound Annual Growth Rate will be 10.90% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Apartment Hotel Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 10.9% |
Market Split by Type |
|
Market Split by Application |
|
List of Competitors |
|
Regional Analysis |
|
Country Analysis |
|
Key Qualitative Information Covered |
|
Report scope is customizable as we have a huge database of Apartment Hotel industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Apartment Hotel Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
An apartment hotel is a lodging option for travelers that shares similarities with hotels and serviced apartments, as it incorporates elements from both. Typically found in urban areas, these establishments offer fully furnished single-room apartments with everything needed for a comfortable stay. These apartments can be rented for varying durations, catering to the needs of both long-term and short-term guests, usually accommodating one or two individuals. The surge in demand for short-term lodging among business travelers, coupled with the rise in urbanization, the expanding number of leisure travelers, and evolving lifestyles, are contributing factors driving the growth of the apartment hotel market.
These developments empower businesses to offer better-tailored solutions and services, which, in turn, contribute to the growth of the Apartment Hotel industry.
For instance,Marriott International has recently announced its agreement with the board of Elegant Hotels Group plc. The agreement entails a recommended all-cash offer for Elegant. Each shareholder of Elegant would be eligible to receive 110 pence per share, per the terms of the offer.
Changing travel preferences and lifestyle trends significantly influence the Apartment Hotel market. Modern travelers, whether for business or leisure, are increasingly seeking accommodations that provide comfort and convenience and a sense of home away from home. Apartment hotels cater to this demand by offering spacious living areas, kitchen facilities, and amenities that mimic residential settings. The rise of remote work and the digital nomad culture have also contributed to the growing appeal of apartment hotels, as they provide a conducive environment for extended stays where guests can balance work and leisure seamlessly.
Marriott International has just introduced Marriott Bonvoy, a fresh loyalty brand that will take over existing loyalty brands such as Marriott Rewards, The Ritz-Carlton Rewards, and Starwood Preferred Guest (SPG). This new brand is designed to showcase the unique advantages, unified loyalty portfolio, and exciting experiences announced.
Additionally, travelers prefer self-contained spaces that allow for social distancing and reduced interaction with other guests, which has become particularly relevant in the wake of the COVID-19 pandemic. These evolving preferences drive the demand for apartment hotels, making them a preferred choice over traditional hotels for a diverse range of traveler
The Apartment Hotel market faces a key restraint in the form of regulatory and zoning challenges. Many cities and regions have strict regulations and zoning laws that differentiate between traditional hotels and residential accommodations. With their hybrid nature of providing both temporary lodging and residential features, apartment hotels often find themselves navigating complex legal frameworks. Local authorities may impose restrictions on the duration of stays, taxation, and building codes, which can affect the feasibility and profitability of apartment hotels. These regulatory hurdles can create uncertainties for investors and developers, potentially limiting the growth and expansion of the market in certain locations.
The Apartment Hotel market was heavily impacted by the COVID-19 pandemic, resulting in immediate disruptions and long-term changes in consumer behavior and industry dynamics. As travel restrictions, lockdowns, and health concerns spread worldwide, the hospitality sector, including apartment hotels, saw a significant decrease in occupancy rates and revenue. The reduced demand for temporary accommodations due to halted travel and limited business activities harmed the financial stability of many apartment hotel operators. Nevertheless, the industry demonstrated resilience by adapting to evolving consumer preferences, such as remote work's increasing popularity and personal space prioritization. Despite ongoing challenges, the sector gradually recovers as travelers return, seeking comfort and safety in apartment hotels.
We have various report editions of Apartment Hotel Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
The apartment hotel market is highly competitive and varied, with many service providers. These include large multinational corporations and smaller, specialized organizations. In the face of globalization and technological advancements, businesses fiercely compete to offer innovative solutions, professional translation and interpreting services, and top-notch apartment hotel services.
August 2020: AccorHotels announced that it has completed its $1.2 billion acquisition of Mantra Group. The deal includes the Mantra, Peppers, BreakFree and Art Series brands, representing 138 hotels in Australia, New Zealand, Hawaii and Bali.
August 2020: Hyatt Hotels Corporation announced that Hyatt is collaborating with Google to pilot a new capability of the Google Assistant - Interpreter Mode.
(Source:www.hospitalitynet.org/news/4091450.html)
Top Companies Market Share in Apartment Hotel Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research,The apartment hotel industry in North America is currently undergoing a period of expansion. This growth can be attributed to several factors, such as an uptick in tourism, increased business travelers, and a rising demand for short-term rental accommodations. Various factors, including higher disposable incomes, a growing influx of international visitors, and an uptick in extended vacations, drive the surge in tourism. As a result, there is a greater need for short-term rental accommodations, which the apartment hotel market is successfully meeting. Additionally, the convenience of having a nearby short-term rental option contributes to the growth of the apartment hotel market among business travelers in North America. Furthermore, the increasing demand for luxury accommodations is also propelling the apartment hotel market in the United States. This is primarily due to rising affluent travelers seeking a more lavish experience. Overall, the apartment hotel market in North America is in a phase of expansion due to increased tourism, a rise in business travelers, and a growing demand for luxury accommodations.
The Asian region's apartment hotel market is undergoing rapid growth for several reasons. A growing demand for short-term accommodation is driven by the rise in business travelers and tourists visiting the region. As a result, there has been a significant increase in the construction of apartment hotels in the area. Furthermore, the expansion of the middle class in the region has contributed to this growth. With higher disposable incomes, the middle class can afford the higher prices of apartment hotels. Moreover, the thriving tourism industry has also played a significant role. The influx of tourists has created a higher demand for short-term accommodation. In summary, the apartment hotel market in the Asian region is experiencing rapid growth due to the increasing demand for short-term accommodation, the rise of the middle class, and the growth of the tourism industry.
The current report Scope analyzes Apartment Hotel Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
To learn more about geographical trends request the free sample pages.
Get Free Sample
Global Apartment Hotel Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Apartment Hotel Industry growth. Apartment Hotel market has been segmented with the help of its Type, Application , and others. Apartment Hotel market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research,The upscale extended-stay hotel segment is dominant. This dominance can be attributed to the increasing demand for luxurious and comfortable accommodations that offer a home-like environment to guests who require longer stays. Upscale extended-stay hotels blend premium amenities, spacious suites, and convenient locations, making them attractive options for business travelers, families, and tourists seeking an enhanced experience. The appeal of upscale amenities, such as fitness centers, upscale dining options, and concierge services, positions this segment as a favored choice among travelers seeking a balance between comfort, convenience, and extended stays.
The midscale extended stay hotel segment is the fastest-growing category in the Apartment Hotel market. This growth can be attributed to its ability to cater to a wider range of travelers seeking cost-effective and convenient accommodations. Midscale extended-stay hotels balance affordability and essential amenities, making them attractive options for budget-conscious travelers, long-term business stays, and temporary relocations. The appeal of competitive rates combined with features like kitchenettes and communal spaces addresses the evolving preferences of travelers seeking comfort and value for extended periods.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Apartment Hotel Industry. Request a Free Sample PDF!
The segment dominated by business customers holds a significant position. This dominance can be attributed to the growing trend of business travel, conferences, and meetings that require accommodations catering to professionals. Business customers often seek extended stay options due to project assignments, training programs, and other work-related commitments. The convenience of having fully equipped suites with amenities like workspaces, high-speed internet, and proximity to commercial areas makes apartment hotels an attractive choice for this segment. Additionally, the ability to combine work and leisure in a comfortable setting contributes to the preference for apartment hotels among business travelers.
According to Cognitive Market Research, the traveler's segment is experiencing rapid growth within the Apartment Hotel market. This growth is primarily driven by the increasing number of tourists and leisure travelers seeking a home-like experience during their journeys. Travelers, including families, couples, and solo adventurers, are opting for apartment hotels as they offer the flexibility of extended stays and home comforts. The availability of spacious rooms, kitchen facilities, and communal spaces creates a sense of familiarity and convenience, making apartment hotels an attractive option for travelers looking to immerse themselves in local culture and experience longer stays.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
To learn more about market share request the free sample pages.
Get Free Sample
Research associate at Cognitive Market Research
Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
Swasti an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
In her current role, Swasti manages research for service and software category, leading initiatives to uncover market opportunities and enhance competitive positioning. Her strong analytical skills and ability to provide clear, impactful findings have been crucial to her team’s success. With an expertise in market research analysis, She is adept at dissecting complex problems, extracting meaningful insights, and translating them into actionable recommendations, Swasti remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Apartment Hotel Market is witnessing significant growth in the near future.
In 2023, the Upscale Extended Stay Hotel segment accounted for noticeable share of global Apartment Hotel Market and is projected to experience significant growth in the near future.
The Travelers segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Hilton Hotels & Resorts , Marriott Hotels & Resorts and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Upscale Extended Stay Hotel, Midscale Extended Stay Hotel, Economy Extended Stay Hotel |
Application | Travelers, Business Customers, Trainers and Trainees, Government and Army Staff, Others |
List of Competitors | Hilton Hotels & Resorts, Hyatt Hotels Corporation, Marriott Hotels & Resorts, InterContinental Hotels Group (IHG), Choice Hotels International Inc, Accor S.A., Wyndham Hotels & Resorts Inc, Four Seasons Hotels Limited, Omni Hotels & Resorts, InTown Suites, Motel 6, Extended Stay America Inc, Others |
This chapter will help you gain GLOBAL Market Analysis of Apartment Hotel. Further deep in this chapter, you will be able to review Global Apartment Hotel Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America Apartment Hotel Market Trends North America Apartment Hotel Technological Road Map North America Apartment Hotel Market Drivers North America Apartment Hotel Market Restraints North America Apartment Hotel Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
You can purchase only the Executive Summary South America Market (2019 vs 2024 vs 2031)
Chapter 6 Middle East and Africa Market Analysis
You can purchase only the Executive Summary Middle East and Africa Market (2019 vs 2024 vs 2031)
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Apartment Hotel market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Upscale Extended Stay Hotel have a significant impact on Apartment Hotel market? |
What are the key factors affecting the Upscale Extended Stay Hotel and Midscale Extended Stay Hotel of Apartment Hotel Market? |
What is the CAGR/Growth Rate of Travelers during the forecast period? |
By type, which segment accounted for largest share of the global Apartment Hotel Market? |
Which region is expected to dominate the global Apartment Hotel Market within the forecast period? |
Segmentation Level Customization |
|
Global level Data Customization |
|
Region level Data Customization |
|
Country level Data Customization |
|
Company Level |
|
Additional Data Analysis |
|
Additional Qualitative Data |
|
Additional Quantitative Data |
|
Service Level Customization |
|
Report Format Alteration |
|
Published Report Editions
are Just a Tip of an Iceberg
Access the Complete Database of
Apartment Hotel Market
Request Sample