Global Tourism Boosts Extended-Stay Hospitality Market: A Significant Driver Propelling The Extended Stay Hotel Market In 2025

The Extended Stay Hotel Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Extended Stay Hotel Market Size and Projected Growth Rate?
In recent times, there's been noticeable growth in the extended stay hotel market. The size of the market, which is projected to be $57.09 billion in 2024, is set to rise to $61.3 billion in 2025 with a compound annual growth rate (CAGR) of 7.4%. Root causes for the development during the historical period include demand for business travel, economic conditions, globalization, changes in travel habits, and workforce mobility.

In the upcoming years, the market size for extended stay hotels is set to witness solid growth, escalating to $82.41 billion in 2029 at a 7.7% compound annual growth rate (CAGR). This prospective growth during the forecasted period can be ascribed to factors such as the adoption of remote work culture, the expansion of medical tourism, the emphasis on sustainability and wellness, the shift in housing preferences, and the need for family travel accommodations. Key trends during this period will be the incorporation of flexible and hybrid spaces, the integration of technology for personalisation, the provision of contactless services, upgraded amenities, and improved health and safety standards.

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What Are the Major Segments in the Extended Stay Hotel Market?
The extended stay hotel market covered in this report is segmented -

1) By Type: Economic, Middle, Luxury
2) By Stay Duration: Weekly, Long Term
3) By Tourist Type: Domestic, International
4) By Booking Channel: Online, On Phone, In-Person
5) By Application: Travelers, Business Customers, Trainers And Trainees, Government And Army Staff, Other Applications

Subsegments:
1) By Economic: Budget Extended Stay Hotels, Economy Suites
2) By Middle: Midscale Extended Stay Hotels, Business Class Extended Stay Hotels
3) By Luxury: Upscale Extended Stay Hotels, Premium Extended Stay Suites

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What Are The Driving Extended Stay Hotel Market Evolution?
The expansion of the tourism industry is foreseen to boost the growth trajectory of the extended-stay hotel market. Visitorism represents economic, social, and cultural influences and includes individuals journeying to countries or places outside their habitual surroundings for personal or professional engagements. Extended-stay hotels provide a homelike comfort to travelers, business attendees and others by offering various services and conveniences, such as cooking and cleaning, enabling them to remain active in unfamiliar cities or places. For example, the Office for National Statistics, an executive office of the UK Statistics Authority, reported in May 2024 that the count of international visitors to the UK had risen in 2023 compared to 2022, climbing from 31.2 million in 2022 to 38.0 million in 2023. Hence, the flourishing tourism industry is fuelling the expansion of the extended-stay hotel market.

Which Firms Dominate The Extended Stay Hotel Market Segments?
Major companies operating in the extended stay hotel market include Marriott International Inc., Hilton Worldwide Holdings Inc., Hyatt Hotels Corporation, Accor Group, G6 Hospitality LLC, InterContinental Hotels Group PLC, Wyndham Hotels & Resorts Inc., Choice Hotels International Inc., Extended-stay America Inc., The Ascott Limited, Sonder Holdings Inc., InTown Suites, Larkspur Landing, National Corporate Housing Inc., Kasa Living Inc., Domio Inc., Ginosi Corporation, Synergy Global Housing LLC, My Place Hotels of America LLC, Mint House Inc., Blueground, The Locale LLC, Bridge Street Motor Inn, Bungalow Hotel, Corporate Worldwide Stay LLP, Le Square Phillips, Les Suites Hotel, WaterWalk Hotel Apartments, Zeus Living Inc., Crestwood Suites Hotel

What Trends Are Expected to Dominate the Extended Stay Hotel Market in the Next 5 Years?
The extended-stay hotel market is witnessing a rising trend in innovation. Key players in the sector are launching unique, innovative hotel brands to maintain their market position. For example, US-based Hilton Inc. debuted an innovative lower-midscale hotel brand called Project H3 in May 2023. The new brand features apartment-style accommodation with versatile layout and four distinct spaces for guests to rest, work, cook, and freshen up. The stay, designed for guests who stay for a minimum of 20 nights, comes with a completely furnished kitchen equipped with a full-sized refrigerator, dishwasher, microwave, a two-burner stove, and more. Additionally, the ground floor and lobby area offer amenities such as a front desk, fitness center, laundry facility, and a small retail shop.

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Which Is The Largest Region In The Extended Stay Hotel Market?
North America was the largest region in the extended stay hotel market in 2024. The regions covered in the extended stay hotel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Extended Stay Hotel Market?
2. What is the CAGR expected in the Extended Stay Hotel Market?
3. What Are the Key Innovations Transforming the Extended Stay Hotel Industry?
4. Which Region Is Leading the Extended Stay Hotel Market?

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