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.
The U.S. hotel industry has begun its comeback as all states are reopening their economies. The numbers show that occupancy is slowly but steadily increasing as hotels get back to business. But, to be sure, it is not business as usual. Relatively few hotels completely closed during the coronavirus pandemic. More than 80 percent remained read more
With more than half of the states in America reopening their economies, owners and operators of lodging accommodations might be tempted to return to business as usual. That includes sales and marketing strategies that management was deploying before the coronavirus pandemic paralyzed the hospitality industry. But hotel marketing experts we interviewed say business will be read more