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.
Ginny Morrison of Evanston, Illinois, is a 33-year veteran of Spire Hospitality, a hotel management company with a portfolio that spans coast-to-coast. As vice president of sales and marketing, Morrison saw the coronavirus pandemic decimate the meetings business. More than a year later, she’s witnessing a comeback as small-meeting planners are actively booking events for the last half of 2021 and beyond. As public health agencies expand COVID-19 vaccination programs across the U.S. and states ease up on public-gathering restrictions designed to keep the virus at bay, the hotel industry is seeing small meetings begin a comeback. In Episode 317, Long Live Lodging covers the state of the small-meetings sector and how hotels can grab their share of the meetings business during and post-pandemic. This report is part of our ongoing coverage about the coronavirus pandemic and its impact on the hospitality industry.
The Hunter Hotel Investment Conference will be the industry’s first large event to be held during the coronavirus pandemic. The Atlanta event will be a hybrid format of in-person and virtual access, also an industry first. Lee Hunter, chairman of the conference, knows the level of expectation is high among other conference planners as well as industry professionals eager to network after more than a yearlong hiatus. Episode 316 of Lodging Leaders podcast features Hunter as he tells what it takes to re-launch the industry’s conference circuit amid the COVID-19 outbreak.