Serviced apartments can be less expensive than equivalent hotel rooms. Since the beginning of the boom in cheap international travel and the corresponding increase in the level of sophistication of international travelers, interest in serviced apartments has risen at the expense of the use of hotels for short stays. The benefits of serviced apartments may include more space and privacy, convenience when traveling with a family, and the cost savings associated with cooking one’s own meals in the apartment.

The above benefits and criteria were highlighted in the inaugural Global Serviced Apartment Industry Report 2008, which was produced following a survey of 20,000 serviced apartment operators, (corporate) travel agents and apartment bookers worldwide.