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The German Market for Serviced Apartments

Serviced Apartments are an international growth market. In Germany this accommodation type is thriving and the number of providers is continuously growing, but who are they?

Recently there are five major German serviced apartment providers:

  • Derag Livinghotels (15 locations)
  • Arcona Living - a division of Arcona-Hotels (5 locations)
  • Lindner Hotels & Resorts (6 locations)
  • Clipper-Boardinghouses (3 locations)
  • iPartment (3 locations)

International apartment providers want to secure themselves a place in this prosperous market and contribute to the sector’s growth in Germany. Ascott Serviced Residences operates under the name of Citadines Apart’Hotels (4 locations), Accor with the Adagio brand (4 locations), Adina (5 locations), as well as Starwood with the Elements brand and Fraser Hospitality with Capri by Fraser, who recently run one location each.

The remainder of the market is highly fragmented and consists of small and mid-size apartment providers as well as mixed approaches that combine hotel rooms and serviced apartments in one location. This is backed up by Georg Consulting, whose latest market research survey looking into in the German serviced apartment industry, clearly shows that 45.8% of the respondents act purely as a boarding house, whereas 54.2% represent hotels including apartments. Overall, you could say that both models are about evenly balanced.

The market survey focuses specifically on the guest structure of Serviced Apartments and states that 87% of business guests are employed by major companies. They are followed by companies operating at several locations or branches (65%) and fair or congress visitors (61%).

Particularly noticeable is the significant increase of the average duration of stay. In 2013’s survey, the share of stays under one week covered 53.8% but this has now decreased to 42.1%. This tendency is accompanied by a fast-growing importance on longstay (> 1 month), which held a share of 10% in 2013 and now reported a rise up to 47.4%.

From a regional perspective, the market survey from Georg Consulting highlights that the Serviced Apartment hotspots are located in economic areas and close to exhibition venues.

Based on the findings, Munich is the leading city for the number of booked overnight stays (1.5 million nights), followed by Berlin (1.2 million) and Hamburg (0.6 million). When you consider these figures alongside the situational changes, Hannover is positioned tops the list with 13.2% of all nights booked are in Serviced Apartments, followed by Munich (11.1%), Nürnberg (8%) and Düsseldorf (>6%).

The current market survey clearly demonstrates the prosperous potential and growth of the serviced apartment industry alongside with the increasing relevance of longstay bookings.

The changes in the market will certainly affect established business hotels more and more in the near future. In order to successfully meet this growing demand for long-stay accommodation, Acomodeo will provide direct bookings from 1 to 740 nights.

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