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USAGE TRENDS
Growth in the usage of serviced apartments for each trip purpose is slowing . Only 18.18 % of buyers say their usage for business travel is growing , compared to 53.33 % in 2023 . Usage for assignment / project working is growing in 15.38 % of companies , compared to 38.46 % in 2023 .
The biggest source market for growth is relocation , with 27.27 % of companies reporting their use of serviced apartments for this reason is growing , compared to 11.11 % in 2023 .
The growth of Airbnb and other Homestay product adoption has slowed , but still outstrips the adoption of co-living products . Early adopters report limited growth year-on-year . 18.75 % of companies say their use of
Homestay products has not grown . In 2023 , 50 % of buyers were using Airbnb type products with 62.5 % considering using .
Growth in the adoption by corporates of co-living has virtually stalled . Despite 50 % of buyers reporting they were already using co-living in 2023 , figures in 2024 show that usage also remains unchanged in 18.75 % of companies and is growing in just 6.25 % of companies . 75 % buyers say they do not use co-living products .
Agents say their clients ’ usage of Airbnb is unchanged in 31.82 % of cases but growing in 22.73 %. Similarly , usage of co-living is growing in 9.09 % of their clients ’ companies , and is unchanged in 27.27 %.
Fig . 7 Corporates ' usage of Homestay and Co-living products 2024