ThisWeekInCoworking.com

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.
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🎉 Coworking celebrations.

🇨🇾 New shared workspace launches in Cyprus

Mario Vassiliades introduced NATIVE a shared workspace in Larnaca, Cyprus that’s set to open in July.

👉 Read this.

🎂 ProjectY turned 6!

Congrats!

👉 Read this.

✊ Coworking impact.

✊ Creating support systems for men in coworking spaces.

Jeannine van der Linden, from the European Coworking Assembly (and a whole bunch of important coworking projects) shares why mens’ wellbeing is an important issue to consider for coworking operators, and shares 6 ways coworking spaces can take action to support these members.

👉 Read this.

🗑 Local non-profit space wins zero waste champion of the year award.

Los Alamos County Environmental Services Division and the Environmental Sustainability Board announced the winners of the Los Alamos County 2022 Zero Waste Champion of the Year awards. Christina McCormick from projectY Cowork Space won the award for the non-profit category.

👉 Read this.

🏳️‍🌈 June Coworking IDEA Challenge: Allyship to Pride Communities

In a particularly moving conversation, Daniyah Shamsi expertly weaves through so many of the core issues our LGBTQIA2S+ family and friends are facing day-to-day, and invites you to take part in this month’s IDEA challenge.

– Shared by Ashley

👉 Read this.

📰 Coworking news & views.

😢 When tragedy strikes within a coworking space.

Unfortunately this is a paywalled piece, but in it writer Kwame Anthony Appiah dives into the ethics of writing about a tragedy they witnessed. So why is this in TWIC? Well, the tragedy in this case, was the brutal murder of the office manager at a coworking space who was trying to evict a member who’d been living in their private office.

Please look after yourselves, your team and take as many precautions and deescalation steps as possible when dealing with tough situations. Especially if times are going to get tougher for a lot of folks.

– Shared by Marcy Michaud

👉 Read this.

🏋️‍♂️ Comparing London’s flex workspaces… by their gyms.

SHB share a glimpse into 4 flex workspaces’ gym setups. Onsite gyms aren’t extremely popular, but with the shift to hybrid strategies, it’s understandable that more and more members could factor such amenities into their workspace decisions.

Alex Latham from The Ministry notes that their gym was definitely not an afterthought. Other providers features are Ocubis, The Office Group (TOG) and LABS.

👉 Read this.

🌍 The FT takes a look into coworking in Africa

David Pilling digs into coworking has found a good fit in African cities for the FT, citing shorter leases, bundled utilities/amenities, and being able to support pan-African teams as drivers for the increasing adoption.

Notable mentions since coworking proliferated the continent in 2010 include AfricaWorks (in 9 cities with an aim to reach 100 offices in 25 locations in 4 years), Cape Town Office (founded in 2011), 7AY Co-working (Rabat, Morocco), Nairobi Garage (4 locations in the Kenyan capital).

Interestingly, AfricaWorks are also rolling out a “One Africa Pass” for businesses looking for coworking access across the continent.

👉 Read this.

🇬🇧 70 UK companies start 4-day work week trial.

Thousands of employees are taking part in a trial that is paying them 100% of their wages for 80% of the usual work hours.

The experiment has been organised by a group campaigning for a shorter working week, but for no loss in wages. Academics from Oxford and Cambridge universities, as well experts at Boston College in the US, will manage the experiment in partnership with the think tank Autonomy.

👉 Read this.

🚀 Are we “on the verge of becoming another pandemic success story”?

Tony Lystra shares the story of how Peter Chee and the Thinkspace team watched their competitors disappear around them at the height of the pandemic, how they survived, and are now sitting with both locations at 100% and 92% occupancy. The piece also looks into how Don Morrison and the TractionSpace team offered huge discounts during lockdowns, but now nearly all their spaces are full or workers, and considering expansions. Robin Cardoso from WeWork also notes that “There has never been a stronger moment for flex office space”.

Agreed. And excited to see how these (and your) brands continue on this trajectory.

👉 Read this.

🦍 800-pound-gorilla’s CEO shares insights into their flex & proptech bets.

TheRealDeal shares a candid conversation with Rob Speyer, CEO at Tishman Speyer, which manages a 90M sqft property portfolio.

It’s a fascinating look into the fifth-generation family firm, how they diversified their porfolio, have invested in (or SPACed) proptech co’s over the last 5 years, and how their own coworking brand (Studio) unlocked a 265k sqft lease with HSBC.

👉 Read this.

💎 Coworking CEO shares how a low-tech $30 device helps him focus

Jamie Hodari shares how a $30 digital typewriter helps him focus without distractions when writing memos or anything that requires deep thinking.

Incase you’re wondering, this newsletter is definitely not curated on such a device. But are you finding ways for you to focus on your writing and deep work amongst the distractions of your devices, members and.. everything else?

👉 Read this.

🇩🇪 Quick summary of the first COWORK conference in 2 years.

Sam Bender from Cobot shares a summary of takeaways from the German Coworking Federation’s (returning) annual conference.

They touched on the beautiful venue and barcamp sessions on coworking platforms (and API connections), coworkations and tech & tools. Other sessions included explaining coworking to those unfamiliar with the movement, and brining community back after lockdowns.

👉 Read this.

💳 Are you leaving margins on the table by only taking cards?

andcards shares how operators are able to cut transaction costs by accepting direct debits (or automated bank transfers). The topic of how best to charge direct customers on a recurring basis has come up in multiple calls, including the community-led discussions of these newsletters over on Clubhouse.

Those 2-3 percentage points on transactions add up, and offering secure payment processing for bank-to-bank transfers (direct debit in the UK, ACH in the US, etc) nets operators higher yields per seat, office, membership or floor. Have you explored alternatives for recurring billing/payments?

– Shared by Helga

👉 Read this.

🙋‍♀️ Day Pass or Membership?

Ian Minor asked if folks prefer day passes or memberships for accessing (and possibly offering/running) workspaces. An interesting array of answers followed.

👉 Read this.

Share This Week's Summary

💻 Coworking technology.

🤯 New API can quickly scan and create 3D scans of rooms

At the recent WWDC22 event, Apple introduced a whole new developer SDK for iOS apps to quickly add in functionality to create near-instantaneous floor plans from just scanning a phone around the room.

Expect to see this in iOS apps from all the best management systems and furniture-as-a-service co’s.

👉 Read this.

📲 Booking app pushes major data-syncing upgrade including rapid signups.

Upflex pushed a major upgrade to their data-syncing integration with Syncaroo.

Not only have they improved the efficiency of their live-availability and booking syncing with andcards, Cobot, Nexudus, OfficeRnD and Satellite Deskworks – but they also became the first platform to implement rapid registrations with auto-populating listings via Sign Up with Syncaroo buttons.

👉 Read this.

🚀 TeX & Building OS firm raises funding from Blackstone and Kastle

In a press release, Adam Segal from cove announced the closing of a funding round for their tenant experience and building operating system platform from investors including Blackstone Innovations Investments and Kastle Systems.

👉 Read this.

📈 Coworking data.

💥 The $500B value destruction across the US office sector

John Preece shares Nick Bloom‘s summary of a new paper on the pandemic’s effect on office values.

On average the pandemic cut office values by 30%, affecting lower quality spaces more than more premium options. “We find a 32% decline in office values in 2020 and 28% in the longer-run, the latter representing a $500 billion value destruction.”

👉 Read this.

🤝 Coworking market moves.

💡 Global furniture brand launches coworking space in Stockholm.

Thomas Proctor shares some snaps from the new Hej!Workshop space in Stockholm, which is a partnership between IKEA Business and Ingka Centers.

An interesting move from the furniture retailer, and something we have seen coming from other (often more premium brands) like Herman Miller and Vari.

👉 Read this.

🏟 Coworking space with stadium views launches to support local ecosystem

We get a first look at the new Spark Arlington, which is set to open this winter. The space, which does feature views of both the Choctaw Stadium’s playing field and the new home of the Texas Rangers, is a part of the Baltimore-based Spark Coworking brand, who’s remit and mission is to support and elevate local entrepreneurship and businesses.

The location, the brand’s 4th in the US, is part of nearly $1B in new development in the Arlington Entertainment District.

👉 Read this.

🎨 Property developer unveils new flex brand.

Andrew Dunn, of Brookfield Properties, introduced SPACE+, a new brand to meet office tenant’s “evolving needs”.

The brand provides designed and furnished spaces which include tech, on flexible terms with an array of additional services available.

👉 Read this.

📖 Online coworking magazine acquired

Ben Lerner of M&A frim Lerner Associates, shared that Yardi Systems have acquired CoWorkingMag.

This one’s definitely interesting and not one I predicted. Even though, it’s not unprecedented if you look back at IWG/Instant‘s move in acquiring Coworker, and in-turn the online publication CoworkingInsights.

👉 Read this.

🆕 Brand’s Mesa location finally opens!

Jenny Poon shared that after 5 long years of planning, a pandemic and ups-and-downs, CO+HOOTS had their soft landing for their Mesa location.

This 11k sqft location is the brand’s second location and will also house their Institute for Entrepreneurship in partnership with a local university.

👉 Read this.

🏨 Another brand steps into coworking in hotels.

Industrious have announced that they’d be launching a 266-seat coworking space within Charles Hotel in partnership with it’s owner Carpenter & Co.

👉 Read this.

🌍 Coworking in hotels brand expands into sub-Saharan Africa

WOJO have announced that Kasada hotels have signed a franchise agreement for opening coworking spaces in their locations across sub-Saharan Africa.

👉 Read this.

🇦🇺 Brand launches 6th Melbourne location

Brad Krauskopf announced Hub Australia‘s, 6th location in Melbourne.

👉 Read this.

🎙 Coworking conversations.

Miro Miroslavov, CEO at OfficeRnD, shares his experience with building a hybrid workplace company and his insights on the future of work on the brand’s new FlexWorld podcast.

🎧 Listen to this.

Jamie Russo dives into how coworking spaces are shifting from avoiding day passes (and custom plans) to embracing them on her Everything Coworking podcast.

🎧 Listen to this.

📆 Coworking events.

🥂 London Book Launch – “Around The World in 250 Coworking Spaces”

June 20: Londoners, come and celebrate coworking and its many shapes x+why Whitechapel for the release of “Around The World in 250 Coworking Spaces” – a coffee table book on coworking, community, and interiors.

– Shared by Pauline

👉 Read this.

🗽 GWA Immersive 2022

June 28-29: The GWA Board of Directors are hosting their first annual IMMERSIVE event digging into hospitality in the flex space industry.

👉 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.

👉 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. 

👉 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.

👉 Read this.

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.

👉 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.

👉 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.

👉 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.

👉 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.

👉 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. 

👉 Read this.

Week 14, 2022

This week we explored small-town coworking in Canada, crowdfunding to expand, a £1.4B drop in UK flex space, 2 more platform acquisitions, underdog city expansions and more.

👉 Read this.