Introduction:

Extended Stay Hotel Market was valued at US$ 62.4 billion in 2024 and is projected to grow at a CAGR of 12.3% to reach US$ 179.6 billion by 2034.

Extended stay hotels cater to guests who require accommodations for an extended period, typically ranging from a week to several months. These establishments offer a unique blend of hotel-like amenities and the comfort of home, making them an attractive option for a variety of travelers, including business professionals, relocating families, and individuals undergoing extended medical treatment or renovation projects. Extended stay hotels offer a range of accommodation options, including studio suites, one-bedroom, and two-bedroom suites. These suites are designed to provide ample living space, separate sleeping areas, and functional workspaces. The suites often feature fully-equipped kitchens with appliances such as refrigerators, stovetops, microwaves, and dishwashers, allowing guests to prepare their meals and maintain their dietary routines.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Extended Stay Hotel Market Key Drivers:

Rising Corporate Travel  

Corporate travel represents a substantial portion of the extended stay hotel market. Many businesses send employees on extended trips for training programs, project assignments, client meetings, and temporary relocations. Business travelers often prefer extended stay hotels over traditional hotels for extended trips due to their cost-effectiveness, spacious accommodations, and amenities such as fully-equipped kitchens and laundry facilities. Extended stay hotels offer competitive rates for longer stays compared to traditional hotels. This cost-effectiveness is particularly appealing to corporate travelers and companies looking to manage travel expenses effectively.   

Extended stay hotels are well-suited for accommodating employees on long-term assignments, such as project-based work, temporary relocations, or corporate training programs. These hotels offer the comfort and amenities of home, allowing business travelers to maintain productivity and well-being during extended stays away from their primary residence.              

Relocation and Temporary Housing Needs

Extended stay hotels serve as a convenient and flexible housing option for individuals and families undergoing relocation due to job transfers, home renovations, or other life transitions. These hotels provide a temporary living solution while individuals settle into their new city, find permanent housing, or wait for their home renovations to be completed.

Extended stay hotels strive to create a home-like environment for guests undergoing relocation, providing a comfortable and welcoming atmosphere during a period of transition. The inclusion of amenities such as complimentary Wi-Fi, laundry facilities, fitness centers, and recreational areas enhances the overall guest experience and facilitates a sense of normalcy and routine during the relocation process.

Amenities and Comfort

The main characteristics that set extended stay hotels apart from other types of lodging and conventional hotels are amenities and comfort. These features are essential for drawing in visitors looking for a long-term, homely encounter. One of the primary amenities in extended stay hotels is a fully equipped kitchen, which typically includes appliances such as a refrigerator, stove, microwave, dishwasher, and cooking utensils.

For instance, in January 2024, VOGO Hotels launches luxury Abu Dhabi Resort with new amenities. With an upgraded VOGO Abu Dhabi Golf Resort & Spa, VOGO Hotels enters the Abu Dhabi market, providing opulent amenities and unique experiences. This shift signifies a new management era and a series of enhancements aimed at enriching the guest experience.

Extended Stay Hotel Market Restrains:

Limited Locations

Some travelers may find that extended stay hotels are inconveniently positioned or inaccessible due to limited locations. This includes travelers who are looking for accommodations close to business districts, airports, or tourist sites. Limited sites for extended stay hotels places them at a competitive disadvantage when it comes to rivals with a larger geographic reach. Limited geographic reach may make it difficult for extended-stay hotels to cater to certain niche markets or demographics with particular housing demands.

Competition from Alternative Accommodations

Extended stay hotels face competition from alternative lodging options such as vacation rentals, corporate housing providers, and home-sharing platforms. These alternatives offer diverse accommodations and pricing options, posing a challenge to extended stay hotels in attracting and retaining guests.

Extended Stay Hotel Market Key Opportunities:

• There is a growing demand for extended stay accommodations driven by various factors, including increased business travel, corporate relocations, project-based assignments, and leisure travel for longer durations.
• Extended stay hotels can capitalize on opportunities to target niche markets and specialized demographics with unique lodging needs.
• There are opportunities for extended stay hotel brands to expand into new markets and geographic regions, including emerging markets with high demand for extended stay accommodations.
• Leveraging technology and digital solutions can enhance the guest experience and operational efficiency within the extended stay hotel market.
• Providing enhanced guest services and personalized experiences can differentiate extended stay hotels and drive guest satisfaction and loyalty.

Recent Development:

• In June 2023, Marriott International announced plans to expand in affordable midscale segment with new extended stay lodging brand. In keeping with the company's strategy to provide guests with locally appropriate lodging options for every purpose of their stay, Marriott has announced that it will be launching a new brand, which is presently known as Project MidX Studios but has not yet been given a name. The goal of the reasonably priced midscale extended stay brand is to provide guests looking for longer stay accommodations in the United States and Canada with modern comfort at an affordable price.
• In June 2023, Hilton has announced the expansion of its brand portfolio with the creation of a new apartment-style extended-stay offering under the working title Project H3. Typically, guests schedule stays of 20 nights or longer in the fast growing $300 billion worker travel industry, which is catered to by the lower midscale brand. This product will provide a reliable and consistent foundation for the long stay and deliver new investment opportunities for developers.
• In November 2023, British heritage fragrance brand, Molton Brown, and The Athenaeum Hotel and Residences, announced a new partnership to launch a first ever hotel-exclusive Molton Brown collection. The Athenaeum will feature a brand-new Reviving Rosemary collection in its public areas and guest rooms to further improve the visitor experience. The line, which is Molton Brown's first aromatherapy line, was made with sustainably sourced rosemary and waste-free Tamanu oil that is harvested in Madagascar as the nuts fall from the trees.

Extended Stay Hotel Market is segmented based on Type, Application, and region.

Type Insight

• Economic Type Extended Stay Hotel: Economic type extended stay hotels cater to budget-conscious travelers including budget -minded business travelers, families, and individuals seeking affordable long-term accommodations.
• Middle Type Extended Stay Hotel: A wide spectrum of travellers, including families, business travellers, and repeat visitors looking for a balance between comfort and price, are served by middle-class extended-stay hotels.
• Luxury Type Extended Stay Hotel: Luxury extended stay hotels offer the highest level of service, comfort, and amenities. Accommodations feature spacious suites or residences with premium furnishings, state-of-the-art appliances, and luxurious bedding and linens.

Application Insights

• Travelers: Extended stay hotels provide travelers with a home-like environment and convenient amenities, making them suitable for individuals or families on extended trips, vacations, or relocations.
• Business Customers: Business customers benefit from the convenience, flexibility, and productivity-enhancing amenities offered by extended stay hotels, such as in-room workspaces, complimentary Wi-Fi, business centers, and proximity to corporate offices and business districts. Extended stay hotels often offer negotiated rates, corporate loyalty programs, and personalized services tailored to the needs of business travelers, fostering long-term relationships and repeat business.
• Trainers & Trainees: Extended stay hotels are well-suited for trainers and trainees participating in corporate training programs, workshops, seminars, or professional development courses held over an extended period. Trainers and trainees appreciate the spacious accommodations, fully equipped kitchens, and on-site amenities provided by extended stay hotels, enabling them to focus on learning and collaboration without the distractions of traditional hotel environments.
• Government & Army Staff: Extended stay hotels serve government agencies, military personnel, and defense contractors requiring temporary housing solutions for official business, deployments, training exercises, or relocation assignments. Government and army staff value the security, convenience, and proximity to military bases, government offices, and defense facilities offered by extended stay hotels.

Regional Insights:

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Extended Stay Hotel Market Regional Insights

• North America market is estimated to witness a significantly high revenue share over the forecast period. North America represents a significant market for extended stay hotels, driven by strong demand from business travelers, corporate relocations, and leisure travelers seeking long-term accommodations.
• Asia Pacific region is experiencing rapid growth in the extended stay hotel market, driven by expanding business opportunities, rising corporate travel, and urbanization across key cities and emerging markets.
• Europe has a growing extended stay hotel market, fueled by increasing business travel, international relocations, and tourism across the continent. Key European cities such as London, Paris, Frankfurt, Amsterdam, and Barcelona have vibrant extended stay hotel sectors catering to diverse traveler demographics and preferences.
• Latin America is an emerging market for extended stay hotels, with cities like Mexico City, São Paulo, Buenos Aires, and Bogotá experiencing growth in demand for long-term accommodations driven by business travel, expatriate assignments, and tourism. Economic growth, infrastructure development, and increasing corporate investment contribute to the expansion of the extended stay hotel sector in Latin American countries.
• Middle East & Africa region has a diverse extended stay hotel market influenced by economic factors, business travel patterns, and tourism trends. Major cities such as Dubai, Abu Dhabi, Riyadh, Johannesburg, and Nairobi serve as key hubs for extended stay accommodations, catering to business travelers, expatriates, and tourists.

Report Scope:

Attribute	Details
Market Size 2024	US$ 62.4 billion
Projected Market Size 2034	US$ 179.6 billion
CAGR Growth Rate	12.3%
Base year for estimation	2024
Forecast period	2024 – 2034
Market representation	Revenue in USD Billion & CAGR from 2024 to 2034
Market Segmentation	By Type - Economic Type Extended Stay Hotel, Middle Type Extended Stay Hotel, and Luxury Type Extended Stay Hotel By Application - Travelers, Business Customers, Trainers & Trainees, and Government & Army Staff
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Extended Stay Hotel Market report based on Type, Application and region:

Extended Stay Hotel Market, By Type:

• Economic Type Extended Stay Hotel
• Middle Type Extended Stay Hotel
• Luxury Type Extended Stay Hotel

Extended Stay Hotel Market, By Application:

• Travelers
• Business Customers
• Trainers & Trainees
• Government & Army Staff

Extended Stay Hotel Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the Extended Stay Hotel Market includes, Hilton Worldwide, Hyatt Hotel, Choice Hotels International, InterContinental Hotels Group, Marriott International and Wyndham Hotel Group.

• Hilton Worldwide

• Company Overview
• Product Portfolio
• Key Highlights
• Financial Performance
• Business Strategies

• Fresh Del Monte Produce NA, Inc.
• Greenyard Fresh NV
• Tyson Foods, Inc.
• D’Arrigo Bros Company 
• Driscoll Strawberry Associates, Inc.
• Dole Food Company
• Grimmway Farms, Inc.
• NatureSweet Ltd.
• Reynolds Catering Supplies Ltd.

“*” marked represents similar segmentation in other categories in the respective section.

Research Objective and Assumption

• Preface
• Research Objectives
• Study Scope
• Years Considered for the study
• Assumptions
• Abbreviations

Research Methodology

• Research data
• Primary Data
  • Primary Interviews
  • Primary Breakdown
  • Key data from Primary Sources
  • Key Thickness Insights
• Secondary Data
  • Major Secondary Sources
  • Secondary Sources
• Market Estimation
• Top-Down Approach
  • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
• Bottom-Up Approach
  • Approach for estimating market share by Bottom-up Analysis (Demand Side)
• Market Breakdown and Data Triangulation
• Research Assumptions

Market Preview

• Executive Summary
• Key Findings—Global Outlook for medical carts Strategies
  • Key Questions this Study will Answer
  • Market Snippet, By Type
  • Market Snippet, By Application
  • Market Snippet, By Region
• Opportunity Map Analysis
• Executive Summary—3 Big Predictions

Market Dynamics, Regulations, and Trends Analysis

• Market Dynamics
  • Drivers
  • Restrains
  • Market Opportunities
  • Market Trends
• DR Impact Analysis
• PEST Analysis
• Porter’s Five Forces Analysis
• Opportunity Orbit
• Market Investment Feasibility Index
• Macroeconomic Factor Analysis

Extended Stay Hotel Market, By Type, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Economic Type Extended Stay Hotel
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Middle Type Extended Stay Hotel
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Luxury Type Extended Stay Hotel
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Extended Stay Hotel Market, By Application, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Travelers
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Business Customers
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Trainers & Trainees
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Government & Army Staff
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Extended Stay Hotel Market, By Region, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Regional Trends
• North America
  • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • U.S.
    • Canada
• Europe
  • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • UK
    • France
    • Germany
    • Russia
    • Italy
    • Rest of Europe
• Asia Pacific
  • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • India
    • Japan
    • South Korea
    • China
    • Rest of Asia Pacific

• Latin America
  • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years

• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa
  • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East

Competitive Landscape

• Heat Map Analysis
• Market Presence and Specificity Analysis

Company Profiles

• Hilton Worldwide
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• Hyatt Hotel
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Choice Hotels International
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• InterContinental Hotels Group
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Marriott International
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Wyndham Hotel Group
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

The Last Word

• Future Impact
• About Us
• Contact