Global Serviced Apartments Market Structure Analysis: On-site Managed Dominates with a Market Share of 67.63%
The global serviced apartment market size will be $30.27 billion in 2024 with a CAGR of 9.97% from 2024 to 2029. Definition A serviced apartment is a fully furnished apartment, available for both short-term and long-term stays, providing amenities for daily use, housekeeping and a range of other services, all included within the rental price. Market by Type According to type, the serviced apartment market is divided into on-site managed and off-site managed. Among them, on-site managed occupies a dominant position, accounting for about 67.63% of revenue, and off-site managed revenue accounts for about 32.37% in 2024. An on-site managed serviced apartment will usually feature a reception and property manager. An off-site managed serviced apartment has no staff on-site – guests self-check in and keys are usually collected from a safety deposit box. Types Revenue Share in 2024 On-site Managed…