China Serviced Apartment Market To Reach USD 22,928.7 Million By 2033

China Serviced Apartment Market Growth & Trends                      

The China serviced apartment market size is expected to reach USD 22,928.7 million by 2033, and is prejected to grow at a CAGR of 13.4% from 2025 to 2033, according to a new report by Grand View Research, Inc. The growth of China’s serviced apartment market has been primarily driven by the increasing influx of expatriates and business professionals relocating to major metropolitan cities such as Shanghai, Beijing, and Shenzhen, which has created sustained demand for long-term stays that combine the comfort of residential spaces with professional hospitality services. Multinational corporations expanding operations in China post-2020 have relied on serviced apartments as a cost-effective solution for employee relocation.

Moreover, urbanization and rising disposable incomes among domestic travelers have strengthened domestic demand. With middle-class households prioritizing convenience and flexibility in accommodation, serviced apartments have gained traction as they offer larger living spaces and kitchen facilities compared to traditional hotels.

China’s serviced apartment market is characterized by a mix of global players, regional hotel groups, and specialized operators, creating a competitive yet fragmented landscape. International operators such as Ascott Limited, Oakwood, and Frasers Hospitality have built strong brand presence by leveraging their global networks and long-term rental expertise. At the same time, domestic players such as Shama, Modena by Fraser, and Hyatt House have adapted their portfolios to suit local consumer preferences, including digital check-in and integration with local payment platforms like Alipay and WeChat Pay.

The market has also seen rising competition from traditional hotels expanding into extended-stay models, further intensifying rivalry. Business strategies revolve around portfolio expansion into Tier II and Tier III cities, digital partnerships with OTAs, and introducing hybrid models that cater to both corporate and leisure travelers. This competitive intensity ensures that pricing strategies, service personalization, and technological adoption remain central to long-term differentiation. 

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China Serviced Apartment Market Report Highlights

• Based on type, short-term serviced apartments dominated the China service apartment market in 2024. The restoration of international flight connectivity and the return of corporate mobility generated heightened demand for flexible, fully furnished accommodations that offered greater comfort than traditional hotels for stays ranging from a few days to several weeks. Serviced apartments emerged as a preferred choice by combining the services of hotels with added living space and amenities at competitive price levels.

• Based on end use, leisure travelers segment held a significant share of the China service apartment market in 2024. The leisure traveler segment is being fueled by China’s strong post-pandemic domestic tourism recovery. Families and young travelers are increasingly choosing serviced apartments for short leisure trips, given their affordability and ability to provide multi-room living spaces suitable for group travel.        

• Based on booking mode, the Online Travel Agencies (OTAs) segment is expected to grow significantly from 2025 to 2033 within the China serviced apartment market. Online Travel Agencies (OTAs) are driving growth by expanding visibility and offering competitive pricing models for serviced apartments. Platforms such as Trip.com and Fliggy have improved booking accessibility, with user-friendly interfaces and loyalty programs that increase customer adoption.

China Serviced Apartment Market Segmentation

Grand View Research has segmented the China serviced apartment market based on type, end use, and booking mode.

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

• Long-Term (>30 Nights)

• Short-Term (<30 Nights)

China Serviced Apartment End Use Outlook (Revenue, USD Million, 2021 - 2033)

• Corporate/Business Traveler

• Leisure Travelers

• Expats and Relocators

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

• Direct Booking

• Online Travel Agencies

• Corporate Contracts

List of Key Players of the China Serviced Apartment Market

• The Ascott Limited

• Frasers Hospitality

• Oakwood

• Marriott International, Inc.

• Shama

• Jinqiao Incorporated Company

• Base Apartment Group

• Lanson Place Hospitality

• Stanford Residences (K. Wah Group)

• IFC Residence (Sun Hung Kai Properties)