ThisWeekInCoworking.com

Week 20, 2022

This week we saw a grocer + coworking partnership, AI-driven dynamic pricing, airport lounges added to a booking platform, a P3 hub launch, data on average hotdesk pricing, more cross-Atlantic market moves, and more.
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This Week is sponsored by…DeskNow

Manage your coworking space with DeskNow and reach more customers through our integrated HybridWork marketplace. Digital. Flexible. Free.ย 

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๐ŸŽ‰ Coworking celebrations.

๐Ÿ‡ฉ๐Ÿ‡ช tuesday coworking turned 6!

Huge congrats and thanks to John Neilan and the team!

๐Ÿ‘‰ Read this.

โœŠ Coworking impact.

๐Ÿ“š College + coworking + city collab launches in CA

Jerome Chang shares that after 6 years of planning, a new facility with state-of-the-art amenities for small businesses has finally opened as a partnership between Long Beach City College and BLANKSPACES.

Apart from the coworking space, the two-story building will also provide resources and programs from the college, including an accelerator for international-looking local businesses.

I love this public-private-partnership approach to support local entrepreneurship, and hope to see many many others.

๐Ÿ‘‰ Read this.

๐Ÿ“ฐ Coworking news & views.

๐Ÿข Flex Space one of the key themes impacting CRE leaders

Richard Bertasi, the CEO at Global Corporate Services for Newmark, shares that the continued evolution of CRE strategy and the critical decisions facing CRE leaders to optimize portfolio performance will probably be driven by five key themes including Flex Space.

The other 4 were Optimal Timing, Space Provisioning, Optionality and Fiduciary Relationships. ICYMI, back in w10/22 the firm bet heavily on flex solutions by rolling out Optality.

๐Ÿ‘‰ Read this.

๐Ÿคฉ Are you letting startups film videos in your space?

Sarah Athanas shares a little humblebrag that Groundwork was the host of a new ad spot for Tandem Hybrid Spaces.

It’s a beautiful way to promote your space, provide an alternative service to local startups or business, and maybe generate new revenue. Having filmed included’s intro video in a coworking space back in 2016, I do wonder how many other spaces have or are hosting startup intro or ad videos.

๐Ÿ‘‰ Read this.

๐Ÿ‡ธ๐Ÿ‡ฎ A dive into rural coworking and the scene in Slovenia

Helga Moreno quizzes Jose Antonio Morales 9 questions about getting into coworking, launching a (successful) space in a town of 50k inhabitants, building a local network/alliance, creating a coop, the launch of the European Rural Coworking Project and more.

๐Ÿ‘‰ Read this.

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๐Ÿ’ป Coworking technology.

๐Ÿ“ˆ Management system adds new AI Insights and Dynamic Pricing for workspace operators

Nexudus recently released the Trends & Insights Dashboard into their Admin Panel, which includes a number of different features that leverage data and AI to help operators make informed decisions on how best to run their workspace.

This dashboard analyses a workspace’s data to provide such information as projected demand for the workspace, its desks and meeting rooms; insights on space performance and can even dynamically adjust pricing to ensure rates are always as competitive as possible.

– Shared by Sammy

๐Ÿ‘‰ Read this.

๐Ÿ›ซ The race for during-travel workspaces is on.

120 airport lounges owned by Plaza Premium Group are now bookable via Coworker (which ICYMI is now part of The Instant Group) and becomes the first ‘non-traditional’ workspace options available on the platform.

This move means that the users of this coworking space aggregator can make reservations at lounges in 70 airports at a discounted rate. Given their recent acquisition, access to these lounges will also become available of other Instant properties/platforms.

๐Ÿ‘‰ Read this.

๐Ÿก Work Near Home booking app launching into UK beta

Jarvo, which allows homeowners to share workspace within their neighborhoods, is launching into beta in the UK.

Love the focus on the ability to walk to work, and this seems to be a similar play to Codi’s original model in the US. Excited to see how this works in the UK and how/where it works with local coworking space operators.

๐Ÿ‘‰ Read this.

๐Ÿ“ˆ Coworking data.

๐Ÿ’น How much does the average hot desks cost?

Coworking Insights have compiled and shared a free report called the 2022 Hot Desk Price Index. In it they compare average hot desk prices across the coworking world.

Key numbers include the average price of a hot desk in 2022 ($206) as well as the most expensive cities in Europe (Luxembourg at $284) and N. America (San Francisco at $362),

The data is allegedly gathered from 19,500 spaces in more than 172 countries, and goes back until 2018, but I’ve asked for clarifications around the freshness and reliability of the data. Follow me on twitter for an update on that.

The report is free, but you will need to share your email address with the site (and I believe the companies that own it).

๐Ÿ‘‰ Read this.

๐Ÿ“Š Q1 earnings show positive signs for embattled brand

Christina Ferzli shares that in the most recent quarterly earnings WeWork beat the midpoint of their previous revenue guidance by $15M. Which is public-company speak for “we did better than we said we’d do”, I believe.

But within the share was a trove of other interesting data snippets, like the growth in their all access memberships (up 267%), a 38% increase in gross desk sales and a reported building occupancy of 70%.

๐Ÿ‘‰ Read this.

๐Ÿค Coworking market moves.

๐Ÿ‡บ๐Ÿ‡ธ Enterprise booking platform lists all US locations of a leading chain

Michael Cockburn shares that Industrious have agreed to make their 90+ US locations available to Desana customers.

The post doesn’t share any more information than that, but it makes me wonder if the brands locations are/can/will be listed on any other platforms, especially given that they did spend $3M on Breather‘s IP back in w22/21.

With the fight for corporate coworking accounts heats up, I wonder if we’ll see more brands follow WeWork‘s recent move towards platform exclusivity with Upflex, or instead work with many to ensure they’re always an option for any employee.

๐Ÿ‘‰ Read this.

๐Ÿ‡ฉ๐Ÿ‡ฐ Partnership bridges workspace services and furniture subscriptions

Workspace management platform Good Monday (recently acquired by DEAS Group) are partnering up with NORNORM the furniture subscription startup to offer offices and workspaces the ability to easy adapt office layouts as needs change. (Article in Danish)

I expect more big moves in the middle of the Venn diagram between coworking, remote working and furniture as a service. Watch this space.

๐Ÿ‘‰ Read this.

๐Ÿ’ฐAnother $100M invested into brand’s global expansion

CBRE have invested a further $100M into flex operator Industrious to fuel more international expansion for the brand.

This follows last week’s acquisitions, and the previous $200M+ investment for a 40% stake back in 2021.

๐Ÿ‘‰ Read this.

๐Ÿ‡ฌ๐Ÿ‡ง Another US brand expands into the UK.

John Arenas shares that the first UK Serendipity Labs location is launching in Salford (near/in Manchester) in October 2022, and will be operated by NewFlex.

The actual article is paywalled, unfortunately, but the main takeaway is in the post. More and more US brands are expanding into the UK, and if you look carefully you’ll see that UK proptech companies are expanding into the US. Interesting.

๐Ÿ‘‰ Read this.

๐Ÿ—ฝ Wellness company announces new 15k sqft coworking hub in Brooklyn

Michael Abrams shares news of Life Time Inc‘s new coworking and wellness project in Brooklyn, New York.

This is their 8th location, but it’s expected they’ll be scaling out even more coworking + wellness location soon. Could we see similar plays from brands like Equinox or Soul Cycle?

๐Ÿ‘‰ Read this.

๐ŸŽ™ Coworking conversations.

Giovanni Palavicini and Jamie Russo chat with Jason R. Anderson of CoWorks LLC about the โ€œwhyโ€ behind the Venture X acquisition of Office Evolution and more on the brand new Flex Uncensored podcast.

๐ŸŽง Listen to this.

Liz Elam and Mara Hauser, Founder and CEO at 25N Coworking and Workplace Studio, thoughtfully talk about loss, living your life collage, design for bringing people together, and expansion.

๐ŸŽง Listen to this.

Jose Antonio Morales chats with Igor Dzhebyan about his story, life as a digital nomad, coworking, his software company and the war in Ukraine.

๐ŸŽง Listen to this.

๐Ÿ’ก A reminder of 5 ways coworking supports members

Katharine Chestnut reminds us how coworking communities have emerged as huge supporters to moms and other entrepreneurs out there who need a place to grow their business.

The post reminds us that coworking gives members community, space, a break, support and room to grow. Have you reminded your neighbors and local communities about what you give them recently? Why not?

๐ŸŽง Listen to this.

๐Ÿ“† Coworking events.

๐Ÿค— Convo: Creating a space of belonging

27 May: How do you foster a culture of belonging in your space? Letโ€™s chat about it.

๐Ÿ‘‰ Read this.

About This.

ThisWeekInCoworking.com is a weekly newsletter summarizing the coworking celebrations, stories, market moves, tech updates and discussions you may have missed.

Newsletters are curated by Hector Kolonas and made available for free via email or this website.

Other Summaries.

Week 25, 2022

This week we see why a VP disliked coworking, new stats from India, increased competition with landlords in Australia, an ask for support, and more.

๐Ÿ‘‰ Read this.

Week 24, 2022

A shift in how space is found, a new coworking awards program, the future of space is flex, soft-landing with coworking in Venice, traditional expansions in US and NZ, could platforms be more supportive, and more.ย 

๐Ÿ‘‰ Read this.

Week 23, 2022

Some topics we see this week: a coworking tragedy, gyms, two hotel + workspace moves, a look into Africa, a huge 4-day week trial, insights behind adapting a 90M sqft portfolio, $500B in value destruction and more.

๐Ÿ‘‰ Read this.

Week 21, 2022

This week we explore a thought experiment, a hiring advantage, believing in community, HR teams doing viewings, acoustics, creators in London, big proptech rounds, M&A in Hong Kong, pouring millions into a hyperlocal economy, and more.

๐Ÿ‘‰ Read this.

Week 19, 2022

This week we explore writing down ideas, see coworking stories from London, Canada, Madrid and insights from Australia, as well as look into mail management, state of flex data syncing, e-scooters, what’s happening with those 800 closed locations and more.

๐Ÿ‘‰ Read this.

Week 18, 2022

This week we explore subtext to Airbnb’s announcement, airline miles from workspace bookings, a billion-dollar takeover, 5 million steps for charity, a mega franchise merger and growth in flex demand and supply across US, Canada and the UK.

๐Ÿ‘‰ Read this.

Week 17, 2022

This week we explore 2 coworking opportunities in appliances & hygiene products, a 300% increase in demand, more M&A, tips for coworking tours, and flex arbitrage.

๐Ÿ‘‰ Read this.

Week 16, 2022

An 8.7% dip in local footprint, a US franchise spin out their software, a new academic study, explore ad spend arbitrage and a space partnership aiming for 500 locations.

๐Ÿ‘‰ Read this.

Week 15, 2022

This week we explore if buildings can have souls, the office sector’s cataclysmic change, if architects suck at designing coworking spaces, see WeWork + Yardi partner up, see US flex demand soar up by 58%, a strategic investment tying up SaksWorks + Convene, a $30M investment into coworking in Tier II cities in India, and a prop dev in London doubling down on flex. And more.ย 

๐Ÿ‘‰ Read this.

Week 14, 2022

This week we explored small-town coworking in Canada, crowdfunding to expand, a ยฃ1.4B drop in UK flex space, 2 more platform acquisitions, underdog city expansions and more.

๐Ÿ‘‰ Read this.