What is the future of serviced accommodation?

The serviced accommodation industry has experienced remarkable growth in recent years, driven by evolving travel preferences and the rise of platforms like Airbnb and Booking.com. According to industry reports, the global serviced apartment market is projected to grow at a CAGR of 7.9% from 2021 to 2028.



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A serviced apartment can be a more economical choice, even more so than a rental property. Rates usually include utilities, housekeeping and amenities, protecting guests from unexpected and hidden costs. Serviced apartments charge per rental unit instead of person, making it a very cost-effective option.

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Every Airbnb host is different. Every Airbnb apartment or house is different. Unlike Airbnb, serviced accommodation and hotels are in the business of providing accommodation for lots of guests on a daily basis. Hotels and serviced accommodation work to provide a consistent experience for guests that can be relied upon.

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Serviced accommodation is frequently used by corporate travellers – such as someone working on a project far from home or someone working from a different office for a period of time.

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They are fully-furnished properties rented out to tenants for a short-term period and include amenities that you'd expect from a hotel in the cost.

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Unlike hotels, serviced apartments are provided with fully equipped kitchens, but they also include Wi-Fi internet access, television sets, room service, security, housekeeping, laundry, among other services.

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