The European serviced apartment sector recorded a solid performance in 2024, supported by robust leisure demand and a recovering corporate segment. In spite of above-average increases in supply in this asset class, the occupancy levels observed amongst the serviced apartments surveyed exceeded expectations. While traditional hotels mostly capitalised on average rate growth, serviced apartments saw performance improvements primarily led by rising occupancy. Our analysis of approximately 6,000 units across the continent provides a comprehensive snapshot of the sentiment surrounding serviced apartment operations across Europe, highlighting the strengths and challenges faced by this increasingly competitive asset class.
