Spain Serviced Apartment Market To Reach $8,737.8 Million By 2033

Spain Serviced Apartment Market Growth & Trends

The Spain serviced apartment market size is expected to reach USD 8,737.8 million by 2033, growing at a CAGR of 14.9% from 2025 to 2033, according to a new report by Grand View Research, Inc. Spain received a record-breaking number of international tourists in 2024, resulting in a big increase in the number of people looking for accommodation options. Many travelers preferred serviced apartments (instead of hotels) because they offer more space, kitchens, and flexibility for short stays and extended visits. Therefore, the surge in inbound tourism is one of the most important reasons why demand for serviced apartments has grown strongly in Spain.

The market is experiencing structural segmentation: a higher proportion of bookings now fall into the “extended-stay” cohort, driven by blended business-leisure trips, relocation assignments, digital-nomad placements, and family group travel. The market has witnessed an increase in demand for long stay and measurable occupancy uplift in serviced apartments versus hotels across recent reporting periods.

Operators respond with tailored rate structures, weekly discounts, corporate negotiated rates, and interior configurations targeting remote work (workspaces, reliable Wi-Fi, kitchenettes). The segmentation also shifts distribution: platforms and corporate travel agencies increasingly list serviced apartments as preferred options for multi-week bookings, and operators run dedicated long-stay promotions (e.g., “stay longer” discounts and corporate packages). This evolving booking mix alters revenue-management, operations, and marketing priorities for Spain-focused operators.

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Spain Serviced Apartment Market Report Highlights

• Short-term serviced apartments dominated the Spain service apartment market in 2024, largely due to the surge in tourism recovery and event-driven travel. Travelers, particularly leisure and bleisure segments, preferred serviced apartments over hotels for the added space, flexibility, and cost efficiency during stays spanning a few days to weeks. This strong alignment with Spain’s tourism rebound positioned short-term rentals as the leading segment.

• Corporate and business travelers held a significant share in the Spain service apartment market in 2024, driven by Spain’s role as a key hub for multinational operations and regional headquarters within Europe. The flexibility of serviced apartments in providing work-friendly environments, proximity to business districts, and support services such as concierge and housekeeping has made them a preferred choice over traditional hotels for professionals on short assignments or extended business trips.

• The direct booking segment is expected to grow significantly from 2025 to 2033 within the market because travelers are increasingly reliant on brand websites and mobile apps for personalized deals, loyalty rewards, and transparency in pricing. Direct booking also ensures better control over cancellation policies and additional perks for leisure tourists and independent travelers, making it more attractive than online travel agencies or intermediaries. This trend reflects the broader digitization of Spain’s accommodation sector and the increasing preference for direct engagement between operators and guests.

Spain Serviced Apartment Market Segmentation

Grand View Research has segmented the Spain serviced apartment market based on type, end-use, and booking mode:

Spain Serviced Apartment Type Outlook (Revenue, USD Million, 2021 - 2033)

• Long-term (>30 Nights)

• Short-term (<30 Nights)

Spain Serviced Apartment End-use Outlook (Revenue, USD Million, 2021 - 2033)

• Corporate/ Business Traveler

• Leisure Travelers

• Expats and Relocators

Spain Serviced Apartment Booking Mode Outlook (Revenue, USD Million, 2021 - 2033)

• Direct Booking

• Online Travel Agencies

• Corporate Contracts

List of Key Players in the Spain Serviced Apartment Market

• The Ascott Limited

• Frasers Hospitality

• Marriott International, Inc.

• Eric Vökel Boutique Apartments

• Majestic Hotel Group (Residences)

• Stay U-nique

• Habitat Apartments

• SACO (The Serviced Apartment Company)

• Aparteasy

• Genteel Home