£1.2bn
£XX.Xm
10,551
218
£XXX.Xm
Over the five years through 2023-24, industry revenue has shrunk at a compound annual rate of 2.1% to £1.2 billion, including an expansion of 14.1% in the current year. Corporate housing providers are constantly entering the industry by renting apartments from landlords, fully fitting them out with furniture, appliances and decor and subletting them for a profit. This model and significant tech and online marketing investments drive industry growth. The contraction in revenue in 2020-21 was due to COVID-19 disruptions, resulting in a standstill in international travel, which depressed corporate housing occupancy rates. Revenue significantly rebounded once restrictions eased, albeit the industry has yet to return to pre-pandemic occupancy levels.
Industry revenue has declined at a CAGR of 2.1 % over the past five years, to reach an estimated £1.2bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue (£m)
2024 |
---|---|---|
Staycity Investment Holdings Ltd | 80.2 | |
edyn Ltd | 70.0 | |
London Letting & Management Ltd | 33.9 |
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Corporate Housing in the UK
Industry revenue is measured across several distinct product and services lines, including Aparthotel suites and Serviced apartments . Aparthotel suites is the largest segment of the Corporate Housing in the UK.
Long-term stays prop up business demand for serviced apartments
Corporate housing companies rent out and operate habitable, furnished real estate to corporate clients on a temporary basis. Corporations typically use serviced apartments and aparthotel suites as an alternative to hotels for their business travel needs.
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SIC 55.1 - Corporate Housing in the UK
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Corporate travel budgets are depressed. The uncertain future of the UK economy due to Brexit caused travel budgets to fall across many industries, limiting demand for service...
Learn about an industry's products and services, markets and trends in international trade.
Brexit shrunk demand for serviced apartments. The pandemic exacerbated this trend, with global travel restrictions constraining corporate travel levels; however, recovery in ...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
London attracts the most business travellers. This is why many corporate housing providers have chosen the capital to open most of their locations.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
More providers means more competition. There's a constant flow of serviced apartment providers entering the industry by renting out apartments from landlords, fully fitting t...
Learn about the performance of the top companies in the industry.
There was reduced demand for Staycity's serviced apartments. COVID-19 lockdowns steered everyone towards working from home, eliminating corporate travel in 2019-20 and taking...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The number of UK businesses is growing. Although COVID-19 hit the economy, the number of UK businesses is growing, driving the inflow of international business visitors requi...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit has been put under pressure. The travel restrictions imposed following the COVID-19 outbreak ground corporate travel to a halt, depressing demand and occupancy rates f...
Including values and annual change:
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Key data sources in the UK include:
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These sources include:
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The market size of the Corporate Housing in the UK industry in United Kingdom is £1.2bn in 2024.
There are 218 businesses in the Corporate Housing in the UK industry in United Kingdom, which has grown at a CAGR of 5.1 % between 2019 and 2024.
The market size of the Corporate Housing in the UK industry in United Kingdom has been declining at a CAGR of 2.1 % between 2019 and 2024.
Over the next five years, the Corporate Housing in the UK industry in United Kingdom is expected to grow.
The biggest companies operating in the Corporate Housing market in United Kingdom are Staycity Investment Holdings Ltd, edyn Ltd and London Letting & Management Ltd
Renting service apartments and aparthotel suites to corporate travellers and Leasing properties from landlords are part of the Corporate Housing in the UK industry.
The company holding the most market share in United Kingdom is Staycity Investment Holdings Ltd.
The level of competition is high and increasing in the Corporate Housing in the UK industry in United Kingdom.