Extended Stay Hotel Market Size, Share, Trends, Growth Outlook

The Global Extended Stay Hotel Market Size is estimated to register 7.2% growth over the forecast period from 2023 to 2030.

 

The market growth is driven by the increasing rise of remote work and the gig economy has led to an increased demand for extended stay accommodations among business travelers and digital nomads. Leading companies that are focusing on Increasing Demand for Flexible Work Arrangements, Digital Transformation, Sustainability and Eco-Friendly Practices, Health and Safety Standards, and others to boost market shares in the industry.

 

Market Overview

The extended stay hotel market offers fully furnished, longer-term accommodations with amenities for a diverse customer base, including business travelers and families. It has seen steady growth due to changing travel trends, technology integration, and diverse market segmentation, with competitive factors such as location and amenities. Future trends include sustainability and customization, and global expansion is on the rise. Guest satisfaction is vital for success in this dynamic hospitality sector.

 

Market Dynamics

Market Trends - Maintaining a Safe and Healthy Environment for Extended Stay Guests

In the extended-stay hotel market, ensuring a safe and healthy environment for guests is imperative. This includes rigorous cleaning, staff training, and contactless options. Ventilation and air quality should be improved, health guidelines communicated clearly, and flexible policies adopted. Continuous monitoring of guest health is essential.

 

Market Driver- Industry Partnerships Demand Extended Stay Hotel Market

Industry partnerships are a significant driver of demand in the extended stay hotel market, as they enable attractive bundled packages that offer convenience and cost savings to travelers. These collaborations enhance the value proposition of extended-stay hotels, appealing to a diverse range of travelers and expanding their customer base while increasing brand visibility in the competitive hospitality industry.

 

Market Opportunity-Introduction of Tech Integration

Tech integration is essential in the extended stay hotel market, improving guest convenience, safety, and efficiency. Features like contactless check-ins, mobile key access, and data analytics enhance the overall guest experience and streamline operations. This technological advancement caters to modern travelers' expectations and boosts the market's competitiveness and efficiency.

 

Market Share Analysis- Economic Extended Stay Hotel Market will register the fastest growth

The Global Extended Stay Hotel Market is analyzed across the Economic, Middle, Luxury, and others. Of these, economics is poised to register the fastest growth.  Economic conditions significantly impact the extended stay hotel market. A robust economy drives higher demand for extended stay accommodations due to increased corporate travel, relocations, and work assignments. Conversely, economic downturns can lead to reduced business travel and tighter budgets, affecting occupancy rates and investments in the sector, making the economic health of a region a critical factor in the market's performance and growth.

 

Market Share Analysis- Business Customers held a significant market share in 2023

The Global Extended Stay Hotel Market is analyzed across a wide range of applications including   Travelers, Business Customers, Trainers and Trainees, Government and Army Staff, and others. Of this Business Customers held a significant market share in 2023. Business customers are a vital segment in the extended stay hotel market, comprising corporate travelers in need of extended accommodations for work-related purposes. These travelers seek fully furnished suites with amenities like workspaces and kitchens

 

Extended Stay Hotel Market Segmentation

By Type

• Economic
• Middle
• Luxury

 

By Application

• Travelers
• Business Customers
• Trainers and Trainees
• Government and Army Staff
• Others

 

By Duration

• Weekly
• Long term

 

By Region

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)

 

Extended Stay Hotel Market Companies

 

• Hilton Worldwide (United States)
• InterContinental Hotels Group (United Kingdom)
• Choice Hotels International (United States)
• Marriot (United States)
• Hyatt (United States)
• Holiday Inn (United States)
• Wyndham Hotel Group (United States)
• Extended Stay America (United States)
• OYO Rooms (India)
• Candlewood Suites (United States)

 

*List not exhaustive

 

Extended Stay Hotel Market Outlook 2023

1 Market Overview                     

1.1 Introduction to the Extended Stay Hotel Market

1.2 Scope of the Study

1.3 Research Objective

1.3.1 Key Market Scope and Segments

1.3.2 Players Covered

1.3.3 Years Considered

 

2 Executive Summary

2.1 2023 Extended Stay Hotel Industry- Market Statistics

3 Market Dynamics

3.1 Market Drivers

3.2 Market Challenges

3.3 Market Opportunities

3.4 Market Trends

 

4 Market Factor Analysis

4.1 Porter’s Five Forces

4.2 Market Entropy

4.2.1 Global Extended Stay Hotel Market Companies with Area Served

4.2.2 Products Offerings Global Extended Stay Hotel Market

 

5 COVID-19 Impact Analysis and Outlook Scenarios

5.1.1 Covid-19 Impact Analysis

5.1.2 Post-COVID-19 Scenario- Low Growth Case

5.1.3 Post-COVID-19 Scenario- Reference Growth Case

5.1.4 Post-COVID-19 Scenario- Low Growth Case

 

6 Global Extended Stay Hotel Market Trends

6.1 Global Extended Stay Hotel Revenue (USD Million) and CAGR (%) by Type (2018-2030)

6.2 Global Extended Stay Hotel Revenue (USD Million) and CAGR (%) by Applications (2018-2030)

6.3 Global Extended Stay Hotel Revenue (USD Million) and CAGR (%) by Regions (2018-2030)

 

7 Global Extended Stay Hotel Market Revenue (USD Million) by Type, and Applications (2018-2022)

7.1 Global Extended Stay Hotel Revenue (USD Million) by Type (2018-2022)

7.1.1 Global Extended Stay Hotel Revenue (USD Million), Market Share (%) by Type (2018-2022)

7.2 Global Extended Stay Hotel Revenue (USD Million) by Applications (2018-2022)

7.2.1 Global Extended Stay Hotel Revenue (USD Million), Market Share (%) by Applications (2018-2022)

 

8 Global Extended Stay Hotel Development Regional Status and Outlook

8.1 Global Extended Stay Hotel Revenue (USD Million) By Regions (2018-2022)

8.2 North America Extended Stay Hotel Revenue (USD Million) by Type, and Application (2018-2022)

8.2.1 North America Extended Stay Hotel Revenue (USD Million) by Country (2018-2022)

8.2.2 North America Extended Stay Hotel Revenue (USD Million) by Type (2018-2022)

8.2.3 North America Extended Stay Hotel Revenue (USD Million) by Applications (2018-2022)

8.3 Europe Extended Stay Hotel Revenue (USD Million), by Type, and Applications (USD Million) (2018-2022)

8.3.1 Europe Extended Stay Hotel Revenue (USD Million), by Country (2018-2022)

8.3.2 Europe Extended Stay Hotel Revenue (USD Million) by Type (2018-2022)

8.3.3 Europe Extended Stay Hotel Revenue (USD Million) by Applications (2018-2022)

8.4 Asia Pacific Extended Stay Hotel Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2022)

8.4.1 Asia Pacific Extended Stay Hotel Revenue (USD Million) by Country (2018-2022)

8.4.2 Asia Pacific Extended Stay Hotel Revenue (USD Million) by Type (2018-2022)

8.4.3 Asia Pacific Extended Stay Hotel Revenue (USD Million) by Applications (2018-2022)

8.5 South America Extended Stay Hotel Revenue (USD Million), by Type, and Applications (2018-2022)

8.5.1 South America Extended Stay Hotel Revenue (USD Million), by Country (2018-2022)

8.5.2 South America Extended Stay Hotel Revenue (USD Million) by Type (2018-2022)

8.5.3 South America Extended Stay Hotel Revenue (USD Million) by Applications (2018-2022)

8.6 Middle East and Africa Extended Stay Hotel Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2022)

8.6.1 Middle East and Africa Extended Stay Hotel Revenue (USD Million) by Country (2018-2022)

8.6.2 Middle East and Africa Extended Stay Hotel Revenue (USD Million) by Type (2018-2022)

8.6.3 Middle East and Africa Extended Stay Hotel Revenue (USD Million) by Applications (2018-2022)

 

9 Company Profiles

 

10 Global Extended Stay Hotel Market Revenue (USD Million), by Type, and Applications (2023-2030)

10.1 Global Extended Stay Hotel Revenue (USD Million) and Market Share (%) by Type (2023-2030)

10.1.1 Global Extended Stay Hotel Revenue (USD Million), and Market Share (%) by Type (2023-2030)

10.2 Global Extended Stay Hotel Revenue (USD Million) and Market Share (%) by Applications (2023-2030)

10.2.1 Global Extended Stay Hotel Revenue (USD Million), and Market Share (%) by Applications (2023-2030)

 

11 Global Extended Stay Hotel Development Regional Status and Outlook Forecast

11.1 Global Extended Stay Hotel Revenue (USD Million) By Regions (2023-2030)

11.2 North America Extended Stay Hotel Revenue (USD Million) by Type, and Applications (2023-2030)

11.2.1 North America Extended Stay Hotel Revenue (USD) Million by Country (2023-2030)

11.2.2 North America Extended Stay Hotel Revenue (USD Million), by Type (2023-2030)

11.2.3 North America Extended Stay Hotel Revenue (USD Million), Market Share (%) by Applications (2023-2030)

11.3 Europe Extended Stay Hotel Revenue (USD Million), by Type, and Applications (2023-2030)

11.3.1 Europe Extended Stay Hotel Revenue (USD Million), by Country (2023-2030)

11.3.2 Europe Extended Stay Hotel Revenue (USD Million), by Type (2023-2030)

11.3.3 Europe Extended Stay Hotel Revenue (USD Million), by Applications (2023-2030)

11.4 Asia Pacific Extended Stay Hotel Revenue (USD Million) by Type, and Applications (2023-2030)

11.4.1 Asia Pacific Extended Stay Hotel Revenue (USD Million), by Country (2023-2030)

11.4.2 Asia Pacific Extended Stay Hotel Revenue (USD Million), by Type (2023-2030)

11.4.3 Asia Pacific Extended Stay Hotel Revenue (USD Million), by Applications (2023-2030)

11.5 South America Extended Stay Hotel Revenue (USD Million), by Type, and Applications (2023-2030)

11.5.1 South America Extended Stay Hotel Revenue (USD Million), by Country (2023-2030)

11.5.2 South America Extended Stay Hotel Revenue (USD Million), by Type (2023-2030)

11.5.3 South America Extended Stay Hotel Revenue (USD Million), by Applications (2023-2030)

11.6 Middle East and Africa Extended Stay Hotel Revenue (USD Million), by Type, and Applications (2023-2030)

11.6.1 Middle East and Africa Extended Stay Hotel Revenue (USD Million), by Region (2023-2030)

11.6.2 Middle East and Africa Extended Stay Hotel Revenue (USD Million), by Type (2023-2030)

11.6.3 Middle East and Africa Extended Stay Hotel Revenue (USD Million), by Applications (2023-2030)

 

12 Methodology and Data Sources

12.1 Methodology/Research Approach

12.1.1 Research Programs/Design

12.1.2 Market Size Estimation

12.1.3 Market Breakdown and Data Triangulation

12.2 Data Sources

12.2.1 Secondary Sources

12.2.2 Primary Sources

12.3 Disclaimer

 

List of Tables

Table 1 Market Segmentation Analysis

Table 2 Global Extended Stay Hotel Market Companies with Areas Served

Table 3 Products Offerings Global Extended Stay Hotel Market

Table 4 Low Growth Scenario Forecasts

Table 5 Reference Case Growth Scenario

Table 6 High Growth Case Scenario

Table 7 Global Extended Stay Hotel Revenue (USD Million) And CAGR (%) By Type (2018-2030)

Table 8 Global Extended Stay Hotel Revenue (USD Million) And CAGR (%) By Applications (2018-2030)

Table 9 Global Extended Stay Hotel Revenue (USD Million) And CAGR (%) By Regions (2018-2030)

Table 10 Global Extended Stay Hotel Revenue (USD Million) By Type (2018-2022)

Table 11 Global Extended Stay Hotel Revenue Market Share (%) By Type (2018-2022)

Table 12 Global Extended Stay Hotel Revenue (USD Million) By Applications (2018-2022)

Table 13 Global Extended Stay Hotel Revenue Market Share (%) By Applications (2018-2022)

Table 14 Global Extended Stay Hotel Market Revenue (USD Million) By Regions (2018-2022)

Table 15 Global Extended Stay Hotel Market Share (%) By Regions (2018-2022)

Table 16 North America Extended Stay Hotel Revenue (USD Million) By Country (2018-2022)

Table 17 North America Extended Stay Hotel Revenue (USD Million) By Type (2018-2022)

Table 18 North America Extended Stay Hotel Revenue (USD Million) By Applications (2018-2022)

Table 19 Europe Extended Stay Hotel Revenue (USD Million) By Country (2018-2022)

Table 20 Europe Extended Stay Hotel Revenue (USD Million) By Type (2018-2022)

Table 21 Europe Extended Stay Hotel Revenue (USD Million) By Applications (2018-2022)

Table 22 Asia Pacific Extended Stay Hotel Revenue (USD Million) By Country (2018-2022)

Table 23 Asia Pacific Extended Stay Hotel Revenue (USD Million) By Type (2018-2022)

Table 24 Asia Pacific Extended Stay Hotel Revenue (USD Million) By Applications (2018-2022)

Table 25 South America Extended Stay Hotel Revenue (USD Million) By Country (2018-2022)

Table 26 South America Extended Stay Hotel Revenue (USD Million) By Type (2018-2022)

Table 27 South America Extended Stay Hotel Revenue (USD Million) By Applications (2018-2022)

Table 28 Middle East and Africa Extended Stay Hotel Revenue (USD Million) By Region (2018-2022)

Table 29 Middle East and Africa Extended Stay Hotel Revenue (USD Million) By Type (2018-2022)

Table 30 Middle East and Africa Extended Stay Hotel Revenue (USD Million) By Applications (2018-2022)

Table 31 Financial Analysis

Table 32 Global Extended Stay Hotel Revenue (USD Million) By Type (2023-2030)

Table 33 Global Extended Stay Hotel Revenue Market Share (%) By Type (2023-2030)

Table 34 Global Extended Stay Hotel Revenue (USD Million) By Applications (2023-2030)

Table 35 Global Extended Stay Hotel Revenue Market Share (%) By Applications (2023-2030)

Table 36 Global Extended Stay Hotel Market Revenue (USD Million), And Revenue (USD Million) By Regions (2023-2030)

Table 37 North America Extended Stay Hotel Revenue (USD)By Country (2023-2030)

Table 38 North America Extended Stay Hotel Revenue (USD Million) By Type (2023-2030)

Table 39 North America Extended Stay Hotel Revenue (USD Million) By Applications (2023-2030)

Table 40 Europe Extended Stay Hotel Revenue (USD Million) By Country (2023-2030)

Table 41 Europe Extended Stay Hotel Revenue (USD Million) By Type (2023-2030)

Table 42 Europe Extended Stay Hotel Revenue (USD Million) By Applications (2023-2030)

Table 43 Asia Pacific Extended Stay Hotel Revenue (USD Million) By Country (2023-2030)

Table 44 Asia Pacific Extended Stay Hotel Revenue (USD Million) By Type (2023-2030)

Table 45 Asia Pacific Extended Stay Hotel Revenue (USD Million) By Applications (2023-2030)

Table 46 South America Extended Stay Hotel Revenue (USD Million) By Country (2023-2030)

Table 47 South America Extended Stay Hotel Revenue (USD Million) By Type (2023-2030)

Table 48 South America Extended Stay Hotel Revenue (USD Million) By Applications (2023-2030)

Table 49 Middle East and Africa Extended Stay Hotel Revenue (USD Million) By Region (2023-2030)

Table 50 Middle East and Africa Extended Stay Hotel Revenue (USD Million) By Region (2023-2030)

Table 51 Middle East and Africa Extended Stay Hotel Revenue (USD Million) By Type (2023-2030)

Table 52 Middle East and Africa Extended Stay Hotel Revenue (USD Million) By Applications (2023-2030)

Table 53 Research Programs/Design for This Report

Table 54 Key Data Information from Secondary Sources

Table 55 Key Data Information from Primary Sources

 

List of Figures

Figure 1 Market Scope

Figure 2 Porter’s Five Forces

Figure 3 Global Extended Stay Hotel Revenue (USD Million) By Type (2018-2022)

Figure 4 Global Extended Stay Hotel Revenue Market Share (%) By Type (2022)

Figure 5 Global Extended Stay Hotel Revenue (USD Million) By Applications (2018-2022)

Figure 6 Global Extended Stay Hotel Revenue Market Share (%) By Applications (2022)

Figure 7 Global Extended Stay Hotel Market Revenue (USD Million) By Regions (2018-2022)

Figure 8 Global Extended Stay Hotel Market Share (%) By Regions (2022)

Figure 9 North America Extended Stay Hotel Revenue (USD Million) By Country (2018-2022)

Figure 10 North America Extended Stay Hotel Revenue (USD Million) By Type (2018-2022)

Figure 11 North America Extended Stay Hotel Revenue (USD Million) By Applications (2018-2022)

Figure 12 Europe Extended Stay Hotel Revenue (USD Million) By Country (2018-2022)

Figure 13 Europe Extended Stay Hotel Revenue (USD Million) By Type (2018-2022)

Figure 14 Europe Extended Stay Hotel Revenue (USD Million) By Applications (2018-2022)

Figure 15 Asia Pacific Extended Stay Hotel Revenue (USD Million) By Country (2018-2022)

Figure 16 Asia Pacific Extended Stay Hotel Revenue (USD Million) By Type (2018-2022)

Figure 17 Asia Pacific Extended Stay Hotel Revenue (USD Million) By Applications (2018-2022)

Figure 18 South America Extended Stay Hotel Revenue (USD Million) By Country (2018-2022)

Figure 19 South America Extended Stay Hotel Revenue (USD Million) By Type (2018-2022)

Figure 20 South America Extended Stay Hotel Revenue (USD Million) By Applications (2018-2022)

Figure 21 Middle East and Africa Extended Stay Hotel Revenue (USD Million) By Region (2018-2022)

Figure 22 Middle East and Africa Extended Stay Hotel Revenue (USD Million) By Type (2018-2022)

Figure 23 Middle East and Africa Extended Stay Hotel Revenue (USD Million) By Applications (2018-2022)

Figure 24 Global Extended Stay Hotel Revenue (USD Million) By Type (2023-2030)

Figure 25 Global Extended Stay Hotel Revenue Market Share (%) By Type (2030)

Figure 26 Global Extended Stay Hotel Revenue (USD Million) By Applications (2023-2030)

Figure 27 Global Extended Stay Hotel Revenue Market Share (%) By Applications (2030)

Figure 28 Global Extended Stay Hotel Market Revenue (USD Million) By Regions (2023-2030)

Figure 29 North America Extended Stay Hotel Revenue (USD Million) By Country (2023-2030)

Figure 30 North America Extended Stay Hotel Revenue (USD Million) By Type (2023-2030)

Figure 31 North America Extended Stay Hotel Revenue (USD Million) By Applications (2023-2030)

Figure 32 Europe Extended Stay Hotel Revenue (USD Million) By Country (2023-2030)

Figure 33 Europe Extended Stay Hotel Revenue (USD Million) By Type (2023-2030)

Figure 34 Europe Extended Stay Hotel Revenue (USD Million) By Applications (2023-2030)

Figure 35 Asia Pacific Extended Stay Hotel Revenue (USD Million) By Country (2023-2030)

Figure 36 Asia Pacific Extended Stay Hotel Revenue (USD Million) By Type (2023-2030)

Figure 37 Asia Pacific Extended Stay Hotel Revenue (USD Million) By Applications (2023-2030)

Figure 38 South America Extended Stay Hotel Revenue (USD Million) By Country (2023-2030)

Figure 39 South America Extended Stay Hotel Revenue (USD Million) By Type (2023-2030)

Figure 40 South America Extended Stay Hotel Revenue (USD Million) By Applications (2023-2030)

Figure 41 Middle East and Africa Extended Stay Hotel Revenue (USD Million) By Region (2023-2030)

Figure 42 Middle East and Africa Extended Stay Hotel Revenue (USD Million) By Region (2023-2030)

Figure 43 Middle East and Africa Extended Stay Hotel Revenue (USD Million) By Type (2023-2030)

Figure 44 Middle East and Africa Extended Stay Hotel Revenue (USD Million) By Applications (2023-2030)

Figure 45 Bottom-Up and Top-Down Approaches For This Report

Figure 46 Data Triangulation

 

Extended Stay Hotel Market Segmentation

By Type

• Economic
• Middle
• Luxury

 

By Application

• Travelers
• Business Customers
• Trainers and Trainees
• Government and Army Staff
• Others

 

By Duration

• Weekly
• Long term

 

By Region

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)