Coworking is a primary growth driver of the office market, reports JLL. The sector has an annual growth rate of about 24 percent. No segment of the market has demonstrated more overall growth than the coworking industry.
JLL’s report is focused on the office sector, but the commercial real estate asset class is crossing over into hospitality as hotel companies, investors and owners are either incorporating coworking programs into their hotels’ public spaces, building separate coworking facilities or both.
In today’s episode, Lodging Leaders takes a look at the coworking trend and its impact on the hospitality industry. We talk to hotel owners and developers who are invested in the sector and we hear from consultants who are witnessing the integration of coworking and flexible working spaces into hotel design and programming.
Featured are Raj Chudasama of Kriya Hotels in Dallas, Texas, and Kamal Rama of Siddhi Hotels in Greenville, South Carolina. Both men are building coworking facilities to complement their hotel investment portfolios. Also interviewed are Philip Bates of Bode, a new hotel company that serves communal travelers; and consultants Paul Breslin of Horwath HTL in Atlanta, Georgia, and Hank Fonde Jr. of CBRE Hotels in Jacksonville, Florida.
Rainer Jenss of Nyack, New York, founded the Family Travel Association seven years ago to help parents and caregivers introduce children to the world through travel, whether that’s a yearlong trip around the world that Jenss and his family took or a weekend getaway to a nearby destination. To help the travel industry gauge what parents want when they take their kids on vacation, FTA conducts an annual study. The U.S. Family Travel Survey 2021 reveals the shift in mindset the COVID-19 pandemic has created in families planning a trip over the next 12 months. Hoteliers use can use the information to generate business and boost their strategies to recover and sustain business now and other the coming months.
Whether they’re new to the concept or they’ve worked in lodging for years, women are an emerging force in hotel development, investment and ownership. Several industry leaders are making significant strides in building programs that encourage and support women interested in becoming hotel owners and investors. This report examines new projects and updates the status of existing efforts by industry leaders to recruit women as owners and help them hurdle barriers such as critical access to capital.