CoworkingCafe’s last quarterly report (using proprietary data as of December 2024) just dropped. Across the 25 largest US markets they saw:

National mean pricing remained stable for dedicated desks ($300), VO ($120), while hot desks saw a subtle $1 decrease to $149.

A 2% quarter-on-quarter growth nation-wide in number of coworking spaces, up to 7,695 from 7,500. This adds 3.3M sqft, bringing the total flex space to 136.8M sqft. Biggest growth in Salt Lake City (8%) and Austin (5%) by number of spaces. LA still leads the table of most coworking spaces with 292 spaces, followed by DFW (286), Washington D.C. (277) – bumping Manhattan (273) to fourth spot.

Regus remains the biggest individual brand (1,018 locations), with Industrious (147) replacing WeWork (137) in second spot. Spaces (124) and HQ (119) – both also IWG brands -top out the top 5 chart.

Comparing Q4 2024 vs Q4 2023 – 23% growth from 6,251 spaces and a 13% growth (or 16M sqft) in total square footage.

Yardi‘s CoworkingCafe has also just released its UK and Ireland Q4 2024 Coworking Report.

In it they report that the UK and Ireland have a combined inventory of 3,326 flexible workspaces, up from 3,089 in Q3 2024. Greater London leads the way with 895 spaces, followed by Manchester (78), Birmingham (55), and Bristol (53). Dublin dominates the Irish market with 120 spaces.

Pricing for coworking subscriptions shows considerable variation. UK median price for a dedicated desk is £210, while open workspaces average £156. Brighton and Hove command the highest prices for dedicated desks and open workspaces, while Greater London is the most expensive for virtual offices and meeting rooms. In Ireland, dedicated desks and open workspaces are generally more expensive than in the UK, with median prices of €277 and €200 respectively.

When it comes to the largest operators in the region, by number of spaces, Regus leads with 78, followed by Fora (63), Workspace Group (57), Spaces (40) and The Boutique Workplace Company (39).

The team at Yardi have committed $250,000 to Direct Relief and World Central Kitchen – two non-profits are distributing fresh water, food, N95 masks, respirators and other supplies to those affected by the devastating blazes around Los Angeles.

Yardi has officially announced the acquisition of both Deskpass and Hubble. This strategic move expands Yardi’s offerings in the flexible workspace market and strengthens its existing solutions, including Yardi Commercial, Yardi Kube and CoworkingCafe.

The acquisition will enable Yardi to provide a wider-reaching suite of tools for managing coworking spaces, from operations through to marketing to lead generation and revenue insights.

Questions to ponder:
1. Will commission structures on these platforms change, to bring them more in-line with CoworkingCafe’s no commission approach? And if they do, what does it mean for competitors for each platform like Liquidspace, FlowSpace, Desana, Upflex and Gable?
2. Does this create any longer-term ties between Industrious (who had acquired a majority of Deskpass recently) and Yardi?
3. What does this mean in relation to Anant’s big plan for a global interconnected booking experience?
4. Who will be joining the TWIC podcast to answer these and other Qs for you?

PS Got Qs you’d like answered? Let us know by replying to this email

In what has been a busy week for Yardi, they also announced a refreshed look and updates to their Yardi Kube product. This update focusing on their "prospect portal", significantly upgrading the UX and UI for those searching for, and wanting to easily book, workspaces.