North America Extended Stay Hotel Market Size, Share, 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) and By Country (US and Canada) - Trends, Analysis and Forecast till 2034

North America Extended Stay Hotel Market Size was valued at USD 24.96 Billion in 2024 and is projected to grow at a CAGR of 12.3% to reach USD 71.84 Billion by 2034.

The North America extended stay hotel market is experiencing significant growth, driven by the increasing demand for accommodation that combines the comforts of home with the convenience of hotel services. Extended-stay hotels, offering amenities such as kitchen facilities, separate living areas, and laundry services, cater to business travelers, families, and individuals relocating for extended periods. This market segment has become increasingly popular in recent years, fueled by shifts in travel patterns, evolving workplace dynamics, and a growing preference for flexible and cost-effective lodging solutions.

Key Drivers of Target Market:

Rise of Remote Work and Business Travel

One of the primary drivers of North America's extended stay hotel market is the rise of remote work and the evolving nature of business travel. As companies adopt more flexible work policies, allowing employees to work remotely or in hybrid models, a growing need for temporary housing solutions that provide a comfortable and productive environment is needed. Extended stay hotels meet this demand by offering amenities that support living and working needs, such as high-speed internet, dedicated workspaces, and comprehensive business services. Furthermore, the resurgence of business travel post-pandemic, extended project assignments, and corporate relocations have bolstered the demand for extended stay accommodations. These hotels offer a practical alternative to traditional hotels for long-term stays, providing cost savings and enhanced comfort for business travelers.

Growth of Tourism and Family Travel

Another significant factor propelling North America's extended stay hotel market is the growth of tourism and family travel. Extended-stay hotels are increasingly popular among families and leisure travelers seeking spacious, affordable accommodations with home-like amenities. The rise of multi-generational travel and longer vacation durations have contributed to this trend, as extended-stay hotels provide the flexibility and convenience needed for longer stays. Additionally, the increase in domestic travel, driven by the desire to explore local destinations and minimize travel disruptions, has boosted the demand for extended stay options. These hotels cater to various traveler needs by offering fully equipped kitchens, laundry facilities, and separate living and sleeping areas, making them an attractive choice for families and tourists looking for comfortable and economical lodging solutions.

Restrains:

High Operational Costs and Competition

Despite the positive growth prospects, North America's extended stay hotel market faces challenges related to high operational costs and intense competition. Extended-stay hotels require significant investment in facilities and services to maintain the home-like experience that guests expect. The costs associated with maintaining fully equipped kitchens, providing regular housekeeping, and offering additional amenities can be substantial. Moreover, the market is highly competitive, with numerous players vying for market share. Major hotel chains and independent operators continuously strive to differentiate their offerings through pricing strategies, loyalty programs, and unique guest experiences. This competitive landscape can pressure profit margins and necessitate ongoing investment in property upgrades and service enhancements to remain attractive to guests. Additionally, the rise of alternative accommodation platforms, such as vacation rentals and serviced apartments, presents further competition, challenging traditional extended stay hotels to innovate and adapt to changing consumer preferences.

The market  is segmented based on Type, Application and Country.

North America Extended Stay Hotel Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2023 to 2034. For the purpose of this study, has segmented the Extended Stay Hotel Market report based on Type, Application, and Country:

Segmentation:

By Type:

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

By Application:

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

By Country:

• U.S
• Canada

The key players operating the North America Extended Stay Hotel Market includes BEST WESTERN HOTELS, Choice Hotels International, Inc., Extended Stay America, HILTON HOTELS & RESORTS, IHG Hotels & Resorts, Hyatt Hotels, RED ROOF INN, StayAPT Suites.

• BEST WESTERN HOTELS, Inc. *
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Choice Hotels International, Inc.
• Extended Stay America  
• HILTON HOTELS & RESORTS
• IHG Hotels & Resorts, Ltd.
• Hyatt Hotels  
• RED ROOF INN, INC.
• StayAPT Suites      

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

1. Research Objective and Assumption
   • Research Objectives
   • Assumptions
   • Abbreviations
2. Market Preview
   • Report Description
     • Market Definition and Scope
   • Executive Summary
     • Market Snippet, By Type
     • Market Snippet, By Application
     • Market Snippet, By Country
   • Opportunity Map Analysis
3. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restraints
     • Market Opportunities
   • Market Trends
   • Product Launch
   • Merger and Acquisitions
   • Impact Analysis
   • PEST Analysis
   • Porter’s Analysis
4. Market Segmentation, By Type, Forecast Period up to 10 Years, (US$ Bn)
   • Overview
     • Market Value and Forecast (US$ Bn), and Share Analysis (%), up to 10 Years
     • Y-o-Y Growth Analysis (%), up to 10 Years
     • Segment Trends
   • Economic Type Extended Stay Hotel
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), up to 10 Years
   • Middle Type Extended Stay Hotel
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), up to 10 Years
   • Luxury Type Extended Stay Hotel
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), up to 10 Years
5. Market Segmentation, Application, Forecast Period up to 10 Years, (US$ Bn)
   • Overview
     • Market Value and Forecast (US$ Bn), and Share Analysis (%), up to 10 Years
     • Y-o-Y Growth Analysis (%), up to 10 Years
     • Segment Trends
   • Travelers
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), up to 10 Years
   • Business Customers
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), up to 10 Years
   • Trainers & Trainees
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), up to 10 Years
   • Government & Army Staff
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), up to 10 Years
6. Market Segmentation, By Country, Forecast Period up to 10 Years, (US$ Bn)
   • Overview
     • Market Value and Forecast (US$ Bn), and Share Analysis (%), up to 10 Years
     • Y-o-Y Growth Analysis (%), up to 10 Years
     • Regional Trends
   • North America
     • Market Size and Forecast (US$ Bn), By Type, up to 10 Years
     • Market Size and Forecast (US$ Bn), By Application, up to 10 Years
     • Market Size and Forecast (US$ Bn), By Country, up to 10 Years
       • U.S
       • Canada
7. Competitive Landscape

• Heat Map Analysis
• Company Profiles
  • BEST WESTERN HOTELS
  • Choice Hotels International, Inc.
  • Extended Stay America  
  • HILTON HOTELS & RESORTS
  • IHG Hotels & Resorts, Ltd.
  • Hyatt Hotels  
  • RED ROOF INN, Inc.
  • StayAPT Suites

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