Market Snapshot:
Apartment hotels are flexible types of accommodation, instead of the rigid format of a hotel room an apartment hotel complex usually offers a complete fully fitted apartment. These complexes are usually custom-built and like a hotel complex containing a varied amount of apartments hotel those rent furnished apartments or suites suitable for housekeeping, on a weekly or more permanent basis, and usually supply all hotel services. Due to the increasing sharing economy, more guests are picking apartment hotels over conventional is the growth of market.
Highlights from Apartment Hotel Market Study
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The key Vendors profiled in the report are Hilton Hotel and Resorts (United States), Hyatt Hotel Corporation (United States), Marriott (United States), IHG (United Kingdom), Wyndham (United States), Choice Hotels International (United States), The Ritz-Carlton Hotel Company (United States), Rixos Hotels (Europe), IBIS (France) and Whitworth Locke, Civic Quarter (United Kingdom). Additionally, other players that are part of this comprehensive study are Haymarket Apartments (United Kingdom), Leman Locke, Aldgate (United Kingdom) and Others.
Geographic Breakdown and Segment Analysis
The Global Apartment Hotel market presents a comprehensive analysis of the Apartment Hotel market by product type (Upscale Extended Stay Hotel, Midscale Extended Stay Hotel and Economy Extended Stay Hotel), by end-user/application (Travelers, Business Customers, Trainers, Government and Army Staff and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Apartment Hotel industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Apartment Hotel market
Analyst at AMA have segmented the market study of Global Apartment Hotel market by Type, Application and Region.
Influencing Trend:
Increasing demand of the people to global tourism
Market Growth Drivers:
Increasing urbanization and Increasing Income levels are the growth of the market
Challenges:
Security and 24-hour Reception & Concierge
Restraints:
Privacy issue
Opportunities:
New technology develops in Apartment hotels. and All Facilities are available.
Market Developments Activities:
In February 2023, Hyatt Hotels Corporation announced the Dream Hotel Group lifestyle hotel brand and management platform acquisition, bringing a vibrant portfolio of lifestyle hotel brands including Dream Hotels, The Chatwal, and Unscripted Hotels into the Hyatt portfolio. Hyatt’s acquisition of Dream Hotel Group represents an exciting chapter in our asset-light growth as we expand our lifestyle offerings, providing global travelers with an increased number of elevated experiences. Dream Hotel Group hotels while adding the commercial strength of Hyatt’s marketing and sales channels, all united under the World of Hyatt loyalty program.
In November 2022, Marriott International, Inc., announced its expansion into apartment-style accommodations and launched Apartments by Marriott Bonvoy TM. The company is seizing upon growing consumer interest among families and friends seeking more space for stays, propelled by the blending of work and leisure travel, and the desire among younger travelers for wider accommodations options.
Apartment Hotels market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Key Target Audience
Government Agencies, Governmental Bodies, End User Industry, Rules ®ulations, Customer and Others