Yes, and in small living spaces where they need to do double duty, a good one is worth its weight in gold. For everyday use, you'll want something that is hard-wearing while still remaining as comfortable as a regular bed mattress.
As a child what I liked best about staying at my grandparent’s house wasn’t the snacks, staying up late, watching my favorite TV shows, or being treated like a princess. What made the night special was sleeping on the sofa bed.