Procurement Market Intelligence Report
Serviced Apartments
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Serviced Apartments Global Overview
Definition
Summary
Serviced apartments are fully furnished apartments that include amenities, at least one bedroom, living area, bathroom or ensuite facilities, and included parking. Providers operating in this market, which include large hospitality companies and small and midsize hospitality companies, offer long-term and short-term furnished accommodations to meet temporary housing needs. These facilities often come equipped with resources unavailable in other temporary residences, such as kitchens. Key buyers include domestic business travelers, domestic leisure travelers, international business travelers, and international leisure travelers.
This Report Includes:
- Corporate Housing
- Extended-Stay Hotels
Not in this Report:
- Regular Hotels
- Regular Motels
Global Serviced Apartments Market - Suppliers by Region
| Country/Region | Number of Suppliers |
|---|---|
| #1Europe | 2,780 |
| #2Oceania & Southeast Asia | 1,595 |
| #3China | 865 |
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Geography Drilldown - US
Average Cost of Serviced Apartments
United States
2025 Market Pricing$100.00 to $XXX.XX
per nightAverage Price
Prices in the Serviced Apartments market range from $100.00 to $XXX.XX, depending on Length of Stay, Timing of Stay and Apartment Size. For example, lower prices are associated with Stays more than three years ($100 to $400 per night), whereas higher prices are associated with Stays less than one year ($175 to $800 per night).
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Between our Europe and Canada collections, we provide price data for 350 markets so you can instantly compare prices across borders. Or, use our custom research services for intel on prices in any region across the globe.
Serviced Apartments Category Price Trends
Pricing trends are indicated by the compound annual growth rate (CAGR) during a set period of time. For the Serviced Apartments market, prices in the US have grown 7.5% from 2022 to 2025. Subscribers can access price trend forecasts, price driver projections and forward-looking cost structure data. Learn more
United States (2022-2025)
7.5%
Compound Annual Growth RateUnited States (2025-2028)
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Price trend forecasts are available to subscribers, along with price driver projections and forward-looking cost structure data.
Cost Analysis - Total Cost of Ownership for Serviced Apartments
Total cost of ownership is Low in the Serviced Apartments market. The average cost of ownership differs depending on the contract but generally includes costs negotiated before the contract begins, costs billed during the contract period and unforeseen costs. For example, unforeseen costs in the form of Duties & Taxes may raise the total cost of ownership unexpectedly.
Negotiated Before
Set Up Fees
Billed During
Maintenance
Unforeseen
Duties & Taxes
Buyer Power in Procurement Negotiations
In 2025, buyer power amounts to -2.8 in the United States. Buyer power is most positively impacted by Recent Price Volatility. It is most negatively impacted by Product Specialization. Subscribers can access details on eight other factors that impact buyer power. Learn more
United States
Buyer power forecasts: your glimpse into the future
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- Near-real-time updates to current and forecast Buyer Power Scores
- Methodology and weightings for Buyer Power Score Components
Supply Chain Risk
The average level of supply chain risk is assessed as Medium, which has a negative impact on buyer power. The level of supply chain risk is affected by industry volatility, barriers to entry, competition, import penetration, regulation and industry financial risk. Buyers in this market can mitigate procurement and supply chain management risks by monitoring risk levels for individual first and second tier suppliers:
1st
Tier Suppliers
- Commercial Real Estate Leasing Firms
- Property Management Companies
- Furniture Wholesalers
2nd
Tier Suppliers
- Real Estate Sales & Brokerage Firms
- Janitorial Service Providers
- Landscaping Service Providers
- Furniture Manufacturers
Biggest Serviced Apartments Suppliers in the US by Revenue
The largest Serviced Apartments vendors by revenue in the US are Oakwood Worldwide (US) LP, Korman Communities Inc. and Hilton Worldwide Holdings Inc. Subscribers can sort and filter by market share concentration, profit level and other factors. Learn more
| Supplier | Operational Size | Headquarters | Number of Employees | Market Share (%) | Market Share Performance (3yr trend) | Total Revenue ($ million) | Profit Level (%) | Risk Level |
|---|---|---|---|---|---|---|---|---|
| Hilton Worldwide Holdings Inc | Global | MCLEAN | >10,000 | 10-15 | ||||
| Hyatt Hotels Corporation | Global | Chicago | >10,000 | 10-15 | ||||
| Intercontinental Hotels Group Plc | Global | Denham, UK | >10,001 | 10-15 | ||||
| Extended Stay America, Inc. | International | CHARLOTTE, NC | 1,001-10,000 | 10-15 | ||||
| Marriott International Inc. | Global | BETHESDA | >10,000 | 20-25 | ||||
| Choice Hotels International, Inc. | NORTH BETHESDA, MD | 1,001-10,000 | 5-10 | |||||
| Accor | Global | Paris, FR | >10,001 | < 5 | ||||
| Wyndham Hotels & Resorts, inc. | Global | PARSIPPANY, NJ | 1,001-10,000 | < 5 | ||||
| G6 Hospitality LLC | Global | Carrollton, TX | >10,000 | < 5 | ||||
Looking for a list of suppliers by country?
Subscribers can access vendor information on Canadian and European suppliers, too. We also offer custom research services to help with vendor sourcing anywhere in the world.
Profit Analysis
The average profit margin across vendors in the Serviced Apartments market is 3.5% and steady. Profit levels shift depending on suppliers' spend on wages, purchases and overhead. The highest cost component for vendors is Purchases. The cost trend for this component is falling, when considering movement between 2024 and 2025. To understand cost forecasts for 2026 and uncover the implications on profit, start your subscription. Learn more
Vendor & Supply Chain Analysis
While suppliers rely on relatively few inputs to provide their service to buyers, frequent changes in the real estate market resulting from interest rates and supply chain delays for the purchase of furniture due create a moderate degree of supply chain risk.
Market share concentration in this market is high, with the top four firms collectively holding more than 50.0% of the market. This contributes to a low level of competition between suppliers, hindering buyer power.
Due to the rise in demand for travel, it has been easy for suppliers to keep rental units occupied with either business or leisure guests. This situation has decreased the likelihood that bankruptcy will affect suppliers’ operations, however, this market is generally heavily affected by macroeconomic shifts such as recessions and pandemics, which reduce the overall risk level to a moderate level.
The United States is a net importer of furniture, importing more furniture than it exports. However, this is not a concern for buyers as furniture is purchased by providers of serviced apartments.
Supplier Information
Extended Stay America, Inc.
Extended Stay America, Inc. is a public company operating internationally in the accommodation and food services sector. The company's offerings include serviced apartments and hotel rooms. Founded in 1995, the company is currently headquartered in CHARLOTTE, North Carolina, United States of America with Subscribe to learn more
Intercontinental Hotels Group Plc
Intercontinental Hotels Group Plc is a private company operating globally in the accommodation and food services sector. Founded in 1900, the company is currently headquartered in Denham, United Kingdom with an estimated employee count of over 10,000. Subscribe to learn more
Hyatt Hotels Corporation
Hyatt Hotels Corporation is a global hospitality company that develops, owns, and operates hotels and resorts under widely recognized brands. It owns and leases full-service hotels and resorts, service hotels, all-inclusive resorts, and other properties, including timeshare, fractional, and other forms of... Subscribe to learn more
Hilton Worldwide Holdings Inc
Hilton Worldwide Holdings Inc. is a global hospitality company operating hotels under various premier brands. Its portfolio includes over 7,500 owned and franchised hotel properties in more than 120 countries. Its brands include, among others, Waldorf Astoria Hotels & Resorts, LXR Hotels & Resorts, Conrad... Subscribe to learn more
Marriott International Inc.
Marriott International, Inc. is a global operator, franchisor, and licensor of hotel, residential, timeshare, and other lodging properties. Its portfolio of brands includes, among others, JW Marriott, The Ritz-Carlton, St. Regis, The Luxury Collection, W Hotels, EDITION, Bvlgari, Marriott Hotels, Sheraton,... Subscribe to learn more
Choice Hotels International, Inc.
Choice Hotels International, Inc. is a public company operating in the accommodation and food services sector. The company's offerings include serviced apartments and hotel rooms. The company is currently headquartered in ROCKVILLE, Maryland, United States of America with an estimated 1802 employees. Subscribe to learn more
Korman Communities Inc.
Korman Communities Inc. is a private company operating internationally in the accommodation and food services sector. The company's offerings include serviced apartments. Founded in 1995, the company is currently headquartered in Plymouth Meeting, Pennsylvania, United States of America with an estimated 750... Subscribe to learn more
Oakwood Worldwide (US) LP
Oakwood Worldwide (US) LP is a private company operating globally in the accommodation and food services sector. The company's offerings include serviced apartments. Founded in 1960, the company is currently headquartered in Long Beach, California, United States of America with an estimated 3500 employees.... Subscribe to learn more
G6 Hospitality LLC
G6 Hospitality LLC is a private company operating globally in the accommodation and food services sector. The company's offerings include serviced apartments and hotel rooms. Founded in 1962, the company is currently headquartered in Carrollton, Texas, United States of America with an estimated 10000 employees.... Subscribe to learn more
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Procurement Management KPIs for the Serviced Apartments Market
Managing vendor performance throughout the contract period is easier when tracking specific key performance indicators (KPIs). For example, buyers should monitor Current Ratio (Assets/Liabilities) and Customer Retention Rate. Buyers may experience better performance throughout their contracts if they establish service level agreements (SLAs) based on Customer Support and other factors.
| KPI | Level of Importance (1-5) | Measurements | Key Considerations |
|---|---|---|---|
| Current Ratio (Assets/Liabilities) | Current Assets Current Liabilities | The current ratio can be used to determine a company’s liquidity and its ability to pay its short-term obligations. | |
| Customer Retention Rate | Client testimonials Press reports | Vendors with a higher customer retention rate indicate a higher quality of service. The customer retention rate can determine the extent to which a company’s customer base fluctuates over time. | |
Questions to Ask During Procurement Negotiations
How can I gain leverage during negotiations?
Features
What furniture is included in the apartment?
How is the apartment cleaned between guest visits?
Workforce
How do you recruit and retain high-quality staff?
How many of your employees have customer service backgrounds?
Value-Added Services
What types of housekeeping and laundry services are available for guests?
Is parking available at your facility? If so, how much does it cost?
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Serviced Apartments RFP Guidelines
What should my RFP include?
Organizational Overview
Buyers should describe their organization and the travel requirements of employees or travelers.
Buyers should indicate the scope and length of the contract.
Statement Of Need
Buyers should include the expected dates and duration of their stay(s), if known.
Buyers should include an estimate of how many rooms they will require annually.
Project Budget
Buyers should specify their budget, if possible.
Buyers should outline payment schedules.
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We display average pricing information, trends and market data.
Our Reports include:
- Opportunity assessment
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- Cost structure benchmarks and analysis
- Supply chain and vendors
- Global supplier breakdown
- Market share concentration
- Regulation and business requirements
- Vendor management and KPIs
- Sourcing strategy guidance
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