Extended Stay Hotel Market Trends and Analysis - Opportunities and Challenges for Future Growth (2024 - 2032)

𝐄𝐱𝐭𝐞𝐧𝐝𝐞𝐝 𝐬𝐭𝐚𝐲 𝐡𝐨𝐭𝐞𝐥 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐢𝐳𝐞 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 𝐔𝐒𝐃 𝟓𝟒.𝟓𝟐 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟑. 𝐓𝐡𝐞 𝐞𝐱𝐭𝐞𝐧𝐝𝐞𝐝 𝐬𝐭𝐚𝐲 𝐡𝐨𝐭𝐞𝐥 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐢𝐬 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐠𝐫𝐨𝐰 𝐭𝐨 𝐔𝐒𝐃 𝟏𝟒𝟔.𝟎𝟒 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟐, 𝐞𝐱𝐡𝐢𝐛𝐢𝐭𝐢𝐧𝐠 𝐚 𝐜𝐨𝐦𝐩𝐨𝐮𝐧𝐝 𝐚𝐧𝐧𝐮𝐚𝐥 𝐠𝐫𝐨𝐰𝐭𝐡 𝐫𝐚𝐭𝐞 (𝐂𝐀𝐆𝐑) 𝐨𝐟 𝟏𝟏.𝟔% 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝 (𝟐𝟎𝟐𝟒 - 𝟐𝟎𝟑𝟐).

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐞𝐟𝐢𝐧𝐢𝐭𝐢𝐨𝐧:
An extended stay hotel is a type of accommodation where guests can book rooms and stay for an extended period, as opposed to a typical hotel. Usually, these hotels provide guests with an apartment or suite that includes amenities like a kitchen, living area, and sometimes a washer/dryer. Guests typically have the option to book lodging for either seven days or thirty days, allowing them the flexibility to prolong their visit if needed.

𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.polarismarketresearch.com/industry-analysis/extended-stay-hotel-market/request-for-sample

𝐆𝐫𝐨𝐰𝐭𝐡 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬:
• Businesses are increasingly using flexible work options and global assignments, which means employees require accommodations that go beyond temporary fixes. Extended-stay hotels, which offer homelike amenities and a variety of service options, are ideal for meeting this requirement.
• The growing emphasis on creating a comfortable environment, such as kitchens and living spaces with essential amenities, is becoming increasingly evident. Hotels are investing in technology and staff training to meet the growing demand for personalized and comfortable accommodation experiences, reflecting a trend toward increased consumer preferences.

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:
The industry is marked by fierce competition, and the leading companies rely on innovative technology, superior goods, and a strong brand identity to boost sales. Here is the list of the leading companies operating in the extended stay hotel market:
• Marriott International (Residence Inn, TownePlace Suites)
• Hilton Worldwide (Homewood Suites, Home2 Suites)
• InterContinental Hotels Group (IHG) (Staybridge Suites, Candlewood Suites)
• Hyatt Hotels Corporation (Hyatt House)
• Extended Stay America
• The Ascott Limited (Ascott The Residence)
• Country Inn & Suites by Radisson
• Element by Westin

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
https://www.polarismarketresearch.com/buy/4010/2

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
𝐄𝐱𝐭𝐞𝐧𝐝𝐞𝐝 𝐒𝐭𝐚𝐲 𝐇𝐨𝐭𝐞𝐥 - 𝐓𝐲𝐩𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:
• Economy
• Mid-Range
• Luxury/Upscale

𝐄𝐱𝐭𝐞𝐧𝐝𝐞𝐝 𝐒𝐭𝐚𝐲 𝐇𝐨𝐭𝐞𝐥 - 𝐓𝐨𝐮𝐫𝐢𝐬𝐭 𝐓𝐲𝐩𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:
• Domestic
• International

𝐄𝐱𝐭𝐞𝐧𝐝𝐞𝐝 𝐒𝐭𝐚𝐲 𝐇𝐨𝐭𝐞𝐥 - 𝐁𝐨𝐨𝐤𝐢𝐧𝐠 𝐂𝐡𝐚𝐧𝐧𝐞𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:
• Online
• On-Phone
• In-Person

𝐄𝐱𝐭𝐞𝐧𝐝𝐞𝐝 𝐒𝐭𝐚𝐲 𝐇𝐨𝐭𝐞𝐥 - 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:
• Travelers
• Business Customers
• Others

The extended stay hotel market is mainly segmented based on type, tourist type, booking channel, application, and region. Based on type analysis, the economy segment led the market due to its popularity among cost-conscious travelers and widespread availability in urban and suburban areas. This area flourishes due to its high number of occupied units offering cost-effective extended stay choices for both business and leisure guests.

Moreover, according to tourist type analysis, the domestic segment led the market, driven by numerous local business trips, relocations, and prolonged vacations. This specific region remains resilient due to its ongoing need for cost-effective and cozy lodgings over extended periods.

𝐂𝐥𝐢𝐜𝐤 𝐡𝐞𝐫𝐞 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.polarismarketresearch.com/industry-analysis/extended-stay-hotel-market

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐋𝐚𝐭𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:
𝐄𝐮𝐫𝐨𝐩𝐞 𝐌𝐨𝐬𝐪𝐮𝐢𝐭𝐨 𝐑𝐞𝐩𝐞𝐥𝐥𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/europe-mosquito-repellent-market

𝐔.𝐒. 𝐌𝐨𝐬𝐪𝐮𝐢𝐭𝐨 𝐑𝐞𝐩𝐞𝐥𝐥𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/us-mosquito-repellent-market

𝐃𝐞𝐜𝐨𝐫𝐚𝐭𝐢𝐯𝐞 𝐋𝐚𝐦𝐢𝐧𝐚𝐭𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/decorative-laminates-market

𝐌𝐞𝐧'𝐬 𝐉𝐞𝐰𝐞𝐥𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/mens-jewelry-market

𝐔.𝐒. 𝐌𝐞𝐧'𝐬 𝐉𝐞𝐰𝐞𝐥𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/us-mens-jewelry-market

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐈𝐧𝐟𝐨:
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Phone:+1-929 297-9727
Email: sales@polarismarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:
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