PUBLISHER: Grand View Research | PRODUCT CODE: 1842039
PUBLISHER: Grand View Research | PRODUCT CODE: 1842039
Spain Serviced Apartment Market Size, Share & Trends Analysis Report By Type (Long-term, Short-term ), By End-use, By Booking Mode, And Segment Forecasts, 2025 - 2033
Spain Serviced Apartment Market Trends:
The Spain serviced apartment market size was estimated at USD 2,625.6 million in 2024 and is projected to reach USD 8,737.8 million by 2033, growing at a CAGR of 14.9% from 2025 to 2033. In 2024, Spain's record rebound in inbound tourism represents a primary demand driver for serviced apartments. Large volumes of international visitors increase demand for mid-to-long-stay accommodation that combines space, kitchen facilities, and consistent services, exactly the value proposition serviced apartments deliver. This is expected to drive market growth during the forecast period.
National statistics show Spain set new visitor records in 2024 (INE reporting c. 93.8 million international tourists in 2024 and continued growth across 2023-24), and industry forecasts from the World Travel & Tourism Council project tourism's contribution to exceed USD 302.02 billion by 2025. This scale of visitation raises occupancy potential outside core hotel channels. It supports weekday and off-season demand in urban and leisure markets, which drives market growth. Therefore, operators capture transient leisure flows and higher-yield extended stays linked to event calendars and seasonal tourism.
Examples include strong volumes to major hubs, such as Barcelona, Madrid, and the Canary Islands, where serviced apartments absorb overflow and multi-person group travel. Given the magnitude of inbound arrivals and tourism GDP contribution, serviced apartment operators can justify expansion, revenue management investments, and partnerships with corporate travel buyers to convert peak tourist flows into repeat, longer stays. This is estimated to drive market growth.
However, a significant restraint on market growth is evolving regulation targeting short-term rentals and tourist apartments that reduces available stock and complicates new supply development. Municipal and national reforms increase compliance costs and create license scarcity in prime urban zones. Policymakers aim to protect housing supply and mitigate over-tourism, but tighter licensing, moratoria, and potential bans materially affect conversion economics (turning residential stock into aparthotels becomes less viable) and raise uncertainty for investors who historically relied on re-licensing and flexible use.
Another major market driver is the return of corporate travel, combined with hybrid working patterns that prolong average trip duration. Business travel recovered materially after pandemic restrictions eased; corporate programs and meetings resumed, and many business trips now include extended local stays to accommodate blended work and meeting itineraries. Serviced apartments meet corporate buyers' needs for privacy, workspace, cost efficiency, and operational consistency over multi-night stays.
Serviced apartments outperformed traditional hotels in occupancy gains during business travel recovery, while corporate bookers increasingly prefer apartments for multi-day assignments. As exemplified by large conferences and recurring corporate visits to Spain, financial institutions and multinational employers have shifted a significant share from short-stay hotels to aparthotels and serviced flats for one week or more, driving market growth.
Spain Serviced Apartment Market Report Segmentation
This report forecasts revenue growth at the country's level and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the Spain serviced apartment market report based on type, end-use, and booking mode:
- Type Outlook (Revenue, USD Million, 2021 - 2033)
- Long-term (>30 Nights)
- Short-term (<30 Nights)
- End-use Outlook (Revenue, USD Million, 2021 - 2033)
- Corporate/ Business Traveler
- Leisure Travelers
- Expats and Relocators
- Booking Mode Outlook (Revenue, USD Million, 2021 - 2033)
- Direct Booking
- Online Travel Agencies
- Corporate Contracts
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Type & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Outlook
- 2.3. Competitive Landscape Snapshot
Chapter 3. Spain Serviced Apartment Market Variables and Trends
- 3.1. Market Introduction
- 3.2. Industry Value Chain Analysis
- 3.2.1. Booking Mode Analysis & Trends
- 3.3. Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.2. Market Restraint Analysis
- 3.3.3. Market Opportunities
- 3.3.4. Market Challenges
- 3.4. Industry Analysis Tools
- 3.4.1. Porter's Five Forces Analysis
- 3.5. Market Entry Strategies
Chapter 4. Spain Serviced Apartment Market: Type Estimates & Trend Analysis
- 4.1. Spain Serviced Apartment Market, By Type: Key Takeaways
- 4.2. Type Movement Analysis & Market Share, 2024 & 2033
- 4.3. Market Estimates & Forecasts, By Type, 2021 - 2033 (USD Million)
- 4.3.1. Long-Term (>30 Nights)
- 4.3.1.1. Market estimates and forecast, 2021 - 2033 (USD Million)
- 4.3.2. Short-Term (<30 Nights)
- 4.3.2.1. Market estimates and forecast, 2021 - 2033 (USD Million)
- 4.3.1. Long-Term (>30 Nights)
Chapter 5. Spain Serviced Apartment Market: End Use Estimates & Trend Analysis
- 5.1. Spain Serviced Apartment Market, By End Use: Key Takeaways
- 5.2. End Use Movement Analysis & Market Share, 2024 & 2033
- 5.3. Market Estimates & Forecasts, By End Use, 2021 - 2033 (USD Million)
- 5.3.1. Corporate/Business Traveler
- 5.3.1.1. Market estimates and forecast, 2021 - 2033 (USD Million)
- 5.3.2. Leisure Travelers
- 5.3.2.1. Market estimates and forecast, 2021 - 2033 (USD Million)
- 5.3.3. Expats and Relocators
- 5.3.3.1. Market estimates and forecast, 2021 - 2033 (USD Million)
- 5.3.1. Corporate/Business Traveler
Chapter 6. Spain Serviced Apartment Market: Booking Mode Estimates & Trend Analysis
- 6.1. Spain Serviced Apartment Market, By Booking Mode: Key Takeaways
- 6.2. Booking Mode Movement Analysis & Market Share, 2024 & 2033
- 6.3. Market Estimates & Forecasts, By Booking Mode, 2021 - 2033 (USD Million)
- 6.3.1. Direct Booking
- 6.3.1.1. Market estimates and forecast, 2021 - 2033 (USD Million)
- 6.3.2. Online Travel Agencies
- 6.3.2.1. Market estimates and forecast, 2021 - 2033 (USD Million)
- 6.3.3. Corporate Contracts
- 6.3.3.1. Market estimates and forecast, 2021 - 2033 (USD Million)
- 6.3.1. Direct Booking
Chapter 7. Spain Serviced Apartment Market: Competitive Analysis
- 7.1. Recent Developments & Impact Analysis by Key Market Participants
- 7.2. Company Categorization
- 7.3. Participant's Overview
- 7.4. Financial performance
- 7.5. Service Benchmarking
- 7.6. Company Market Share Analysis, 2024 (%)
- 7.7. Company Heat Map Analysis, 2024
- 7.8. Strategy Mapping
- 7.9. Company Profiles
- 7.9.1. The Ascott Limited
- 7.9.1.1. Company Overview
- 7.9.1.2. Financial performance
- 7.9.1.3. Service Portfolios
- 7.9.1.4. Strategic Initiatives
- 7.9.2. Frasers Hospitality
- 7.9.2.1. Company Overview
- 7.9.2.2. Financial performance
- 7.9.2.3. Service Portfolios
- 7.9.2.4. Strategic Initiatives
- 7.9.3. Marriott International, Inc.
- 7.9.3.1. Company Overview
- 7.9.3.2. Financial performance
- 7.9.3.3. Service Portfolios
- 7.9.3.4. Strategic Initiatives
- 7.9.4. Eric Vokel Boutique Apartments
- 7.9.4.1. Company Overview
- 7.9.4.2. Financial performance
- 7.9.4.3. Service Portfolios
- 7.9.4.4. Strategic Initiatives
- 7.9.5. Majestic Hotel Group (Residences)
- 7.9.5.1. Company Overview
- 7.9.5.2. Financial performance
- 7.9.5.3. Service Portfolios
- 7.9.5.4. Strategic Initiatives
- 7.9.6. Stay U-nique
- 7.9.6.1. Company Overview
- 7.9.6.2. Financial performance
- 7.9.6.3. Service Portfolios
- 7.9.6.4. Strategic Initiatives
- 7.9.7. Habitat Apartments
- 7.9.7.1. Company Overview
- 7.9.7.2. Financial performance
- 7.9.7.3. Service Portfolios
- 7.9.7.4. Strategic Initiatives
- 7.9.8. SACO (The Serviced Apartment Company)
- 7.9.8.1. Company Overview
- 7.9.8.2. Financial performance
- 7.9.8.3. Service Portfolios
- 7.9.8.4. Strategic Initiatives
- 7.9.9. Aparteasy
- 7.9.9.1. Company Overview
- 7.9.9.2. Financial performance
- 7.9.9.3. Service Portfolios
- 7.9.9.4. Strategic Initiatives
- 7.9.10. Genteel Home
- 7.9.10.1. Company Overview
- 7.9.10.2. Financial performance
- 7.9.10.3. Service Portfolios
- 7.9.10.4. Strategic Initiatives
- 7.9.1. The Ascott Limited
List of Tables
- Table 1 Spain serviced apartment market: Key market driver analysis
- Table 2 Spain serviced apartment market: Key market restraint analysis
- Table 3 Spain serviced apartment market estimates & forecast, 2021 - 2033 by type (USD Million)
- Table 4 Long-term (>30 nights) serviced apartment market estimates & forecast, 2021 - 2033 (USD Million)
- Table 5 Short-term (<30 nights) serviced apartment market estimates & forecast, 2021 - 2033 (USD Million)
- Table 6 Spain serviced apartment market estimates & forecast, 2021 - 2033 by end use (USD Million)
- Table 7 Spain serviced apartment market estimates & forecast, for corporate/business traveler 2021 - 2033 (USD Million)
- Table 8 Spain serviced apartment market estimates & forecast, for leisure travelers 2021 - 2033 (USD Million)
- Table 9 Spain serviced apartment market estimates & forecast, for expats and relocators, 2021 - 2033 (USD Million)
- Table 10 Spain serviced apartment market estimates & forecast, 2021 - 2033 by booking mode (USD Million)
- Table 11 Spain serviced apartment market estimates & forecast, through direct booking, 2021 - 2033 (USD Million)
- Table 12 Spain serviced apartment market estimates & forecast, through online travel agencies, 2021 - 2033 (USD Million)
- Table 13 Spain serviced apartment market estimates & forecast, through corporate contracts, 2021 - 2033 (USD Million)
- Table 14 Recent developments & impact analysis by key market participants
- Table 15 Company market share, 2024 (%)
- Table 16 Company heat map analysis, 2024
- Table 17 Companies implementing key strategies
List of Figures
- Fig. 1 Spain serviced apartment market segmentation
- Fig. 2 Information procurement
- Fig. 3 Primary research pattern
- Fig. 4 Primary research approaches
- Fig. 5 Primary research process
- Fig. 6 Market snapshot
- Fig. 7 Segment snapshot
- Fig. 8 Competitive landscape Snapshot
- Fig. 9 Parent industry and Spain serviced apartment market size, 2024 (USD Million)
- Fig. 10 Spain serviced apartment market: Value chain analysis
- Fig. 11 Spain serviced apartment market: Dynamics
- Fig. 12 Spain serviced apartment market: Porter's five forces analysis
- Fig. 13 Spain serviced apartment market, by type: Key takeaways
- Fig. 14 Spain serviced apartment market: Type movement analysis, 2024 & 2033 (%)
- Fig. 15 Long-term (>30 nights) serviced apartment market estimates & forecast, 2021 - 2033 (USD Million)
- Fig. 16 Short-term (<30 nights) serviced apartment market estimates & forecast, 2021 - 2033 (USD Million)
- Fig. 17 Spain serviced apartment market, by end use: Key takeaways
- Fig. 18 Spain serviced apartment market: End Use movement analysis, 2024 & 2033 (%)
- Fig. 19 Spain serviced apartment market estimates & forecast, for corporate/business traveler, 2021 - 2033 (USD Million)
- Fig. 20 Spain serviced apartment market estimates & forecast, for leisure traveler, 2021 - 2033 (USD Million)
- Fig. 21 Spain serviced apartment market estimates & forecast, for expats and relocators, 2021 - 2033 (USD Million)
- Fig. 22 Spain serviced apartment market, by booking mode: Key takeaways
- Fig. 23 Spain serviced apartment market: Booking mode movement analysis, 2024 & 2033 (%)
- Fig. 24 Spain serviced apartment market estimates & forecast, through direct booking, 2021 - 2033 (USD Million)
- Fig. 25 Spain serviced apartment market estimates & forecast, through online travel agencies, 2021 - 2033 (USD Million)
- Fig. 26 Spain serviced apartment market estimates & forecast, through corporate contracts, 2021 - 2033 (USD Million)
- Fig. 27 Key company categorization
- Fig. 28 Company market share analysis, 2024
- Fig. 29 The strategic framework of the Spain serviced apartment market
