Brazil Serviced Apartment Market (2025 - 2033) Size, Share & Trends Analysis Report By Type (Long-Term (>30 Nights), Short-Term (<30 Nights)), By End-use (Corporate/Business Traveler, Leisure Travelers), By Booking Mode, And Segment Forecasts

Brazil Serviced Apartment Market Trends

The Brazil serviced apartment market size was estimated at USD 6.32 billion in 2024 and is expected to reach USD 16.73 billion by 2033, expanding at a CAGR of 11.8% from 2025 to 2033. The Brazil serviced apartment sector is experiencing rapid growth, driven by increasing recognition among both business and leisure travelers of the advantages these flexible accommodations provide. Economic recovery, tourism growth, and evolving consumer preferences are some of the factors expected to drive the growth of the Brazil serviced apartment industry during the forecast period.

The Brazil serviced apartment market benefits from its broad appeal, catering to a diverse customer base that includes corporate travelers, relocating professionals, students, vacationing families, and individuals requiring a supportive setup for remote work or online learning. This group also extends to modern “digital nomads” seeking flexibility and convenience. Such adaptability ensures steady demand, even during periods of market uncertainty, as demonstrated during the pandemic.

Mega-events, such as Carnival in Rio de Janeiro and São Paulo’s business fairs, continue to attract both leisure and corporate visitors. Serviced apartments provide a unique value proposition for these leisure and corporate travelers by combining hotel-like services with the comfort of private residences. In addition, lifestyle changes among younger generations, who prefer mobility and experience-driven stays over property ownership, further accelerate demand. The rise of digital booking channels, particularly direct platforms, enhances accessibility, further driving the growth of the Brazil serviced apartment industry.

Brazil has seen a gradual rebound in corporate travel following the pandemic, especially in key commercial hubs such as São Paulo, Rio de Janeiro, and Brasília. These cities host multinational corporations, government institutions, and international events, which generate sustained demand for flexible accommodation solutions. Business travelers and expatriates increasingly favor serviced apartments over traditional hotels because of their affordability, home-like amenities, and suitability for medium- to long-term stays. This shift reflects a growing emphasis on cost efficiency and convenience in corporate housing policies. This rebound in corporate travel drives the growth of the Brazil serviced apartment industry.

With increasingly globalized markets, improved air mobility, new technologies, and the demystification of remote work, the demand for serviced apartments will continue to grow, especially in large urban centers, which in turn will drive the growth of the Brazil serviced apartment market. With the wave of mergers and acquisitions that the large hotel chains have gone through in recent years, and the real need to differentiate and create new products and services, there has been a strong increase in long stay and apart hotel products in Brazil, as a loyalty and growth strategy for these hotel chains, providing a standardization of services and products offered.

Consumer Behavioral Analysis

In the Brazil serviced apartment market, the customer profile choosing serviced apartments tends to prioritize a lifestyle experience similar to that of a local resident, rather than the formal atmosphere of traditional hotels. Location plays a key role in their decision-making, as proximity to vibrant neighborhoods allows them to access daily conveniences while also enjoying leisure opportunities alongside professional commitments. This aligns with the growing bleisure trend, where work trips are extended or combined with personal recreation.

An additional advantage of the serviced apartment model lies in its alignment with the lifestyle preferences of newer generations (Millennials, Gen X, Y, and Z), who are less inclined to purchase permanent properties. Instead, they prioritize mobility, meaningful experiences, and digital connectivity in their professional and personal lives. These preferences are further influenced by smaller household sizes and an emphasis on healthier living, which has driven demand for flexible accommodation solutions designed with such values in mind.

Younger travelers, particularly Millennials and Gen Z, prioritize affordability, digital connectivity, and flexible short-term rentals that allow them to combine business with leisure, while enjoying communal amenities such as co-working spaces. Middle-aged consumers, largely Gen X and older Millennials, show stronger demand for medium- to long-term stays, often linked to corporate assignments, relocations, or extended business projects, valuing privacy, fully equipped kitchens, and proximity to business districts. Older demographics, including Baby Boomers, tend to prefer serviced apartments for leisure travel and seasonal stays, drawn by security, comfort, and the convenience of managed services, especially in tourist destinations like Rio de Janeiro and Florianopolis.

Type Insights

The short-term service apartments accounted for a revenue share of 67.44% of the Brazil serviced apartment market in 2024, driven by the revival of business travel and events, especially in major cities such as São Paulo, Rio de Janeiro, and Brasília. Brazil hosted a surge of regional conferences, trade shows, and Brazil serviced apartment industry exhibitions in the post-pandemic recovery phase, which created strong demand for flexible accommodations. These short-stay apartments provided corporate visitors with hotel-like amenities while offering more space and privacy, making them preferable for trips ranging from a few nights to a couple of weeks.

The long-term serviced apartments are expected to grow at a CAGR of 13.0% from 2025 to 2033 within the Brazil serviced apartment industry, propelled by Brazil’s rising expatriate workforce and relocation assignments. Sectors such as oil & gas, IT, and automotive manufacturing have seen significant multinational investments, requiring employees to stay for months at a time. Long-term serviced apartments meet this demand by offering cost savings over hotels, home-like living conditions, and infrastructure conducive to family accommodation, positioning them as the preferred choice for corporate relocations and international postings. These are the factors estimated to drive the growth of the Brazil serviced apartment market during the forecast period.

End Use Insights

In 2024, corporate/business travelers accounted for a revenue share of 52.64% of the Brazil serviced apartment market, as multinational corporations reactivated in-person operations, client meetings, and project-based travel. Cities such as São Paulo and Rio de Janeiro, being financial and industrial hubs, attracted high volumes of executives who required centrally located serviced apartments. These accommodations offered the dual benefits of professional services and proximity to business districts, ensuring convenience and efficiency for short-term assignments, further boosting the growth of the industry.

The expats & relocators are expected to grow at a CAGR of 12.9% from 2025 to 2033within the Brazil serviced apartment industry, driven by Brazil’s increasing role as a relocation hub in Latin America. Government-led infrastructure projects, expansion of international corporations, and a growing inflow of skilled foreign professionals have boosted demand for apartments suitable for long-term residency, further driving the growth of the Brazil serviced apartment market. Expats value spacious layouts, kitchens, and schooling accessibility for families, which makes serviced apartments more suitable than hotels for relocation purposes.

Booking Mode Insights

Booking through direct booking accounted for a revenue share of 48.68% of the Brazil serviced apartment industry in 2024, as both corporate clients and individual travelers increasingly sought cost savings and greater flexibility in terms of room customization, cancellation, and loyalty benefits. Serviced apartment operators in Brazil have invested in digital platforms and user-friendly websites that enable seamless booking, offering competitive rates and personalized packages that bypass third-party commissions. This has boosted the growth of the Brazil serviced apartment market.

Booking through corporate contracts is expected to grow at a CAGR of 13.4% from 2025 to 2033 within the Brazil serviced apartment market, due to the rising preference of multinational companies to lock in accommodation agreements for their traveling staff and relocated employees. Such contracts provide cost predictability, guaranteed availability, and standardized service levels across stays. With Brazilian companies expanding globally and international businesses strengthening their presence locally, structured agreements with serviced apartment providers are increasingly being adopted.

Key Brazil Serviced Apartment Company Insights

The Brazil serviced apartment market has become increasingly dynamic, shaped by the entry of proptechs and specialized rental platforms that leverage technology to distinguish themselves. Startups such as Casai have expanded aggressively by acquiring local players, such as Brazil’s Q Apartments, to bolster their portfolio and focus on corporate travelers with professionally managed short-term rental units. These agile, tech-enabled players are disrupting traditional hospitality by offering streamlined operations, cost-effective stays, and modern services tailored to both business and leisure travelers.

At the same time, traditional global hotel chains maintain a strong presence and influence over corporate lodging, contributing to a competitive environment that spans various segments. Major players such as Accor, Marriott, Hilton, and others continue vying for market share, particularly in business travel and full-service accommodation categories. These established brands attract corporate clients through brand loyalty, widespread networks, and comprehensive amenities.

Recent Developments

• In July 2024, Marriott expanded its footprint into South America by introducing the first-ever Marriott Executive Apartments in São Paulo, marking a significant foray into the Brazilian serviced apartment market.

• In August 2023, A transformative merger occurred between two proptech innovators: Mexico’s Casai and São Paulo-based Nomah. The union created a Latin American powerhouse in serviced apartments, combining their portfolios to manage over 3,000 units across Brazil and Mexico.

Brazil Serviced Apartment Market Report Scope

Brazil Serviced Apartment Market Report Segmentation

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2021 to 2033. For the purpose of this study, Grand View Research has segmented the Brazil serviced apartment market report by type, end use, and booking mode:

• Type Outlook (Revenue, USD Million, 2021 - 2033)

  • Long-Term (>30 Nights)

  • Short-Term (<30 Nights)

• End Use Outlook (Revenue, USD Million, 2021 - 2033)

  • Corporate/Business Traveler

  • Leisure Travelers

  • Expats & Relocators

• Booking Mode Outlook (Revenue, USD Million, 2021 - 2033)

  • Direct Booking

  • Online Travel Agencies

  • Corporate Contracts