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.
Last week, several hospitality-focused analytical companies released data that specifically show how the coronavirus pandemic is decimating the U.S. hotel industry. The picture they paint is grim. And – though experts say they believe the industry will eventually resurge – the months ahead will be hard. In this report we review reports from STR, CBRE read more
While many of the country’s 57,000 hotels have closed during the coronavirus pandemic, owners and operators are spending limited resources and a whole lot of time on retooling their property systems and deep cleaning rooms and public areas. They want to be ready when the nation starts traveling again. And that’s a message that needs read more