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Coliving and coworking are two relatively recent concepts that reflect our changing lifestyles, both personal and professional. Two trends that are profoundly redefining the notion of hospitality at a time when people’s needs and expectations are changing at breakneck speed. How are these two markets revolutionising hospitality, and how are the players in our industry adapting to these developments? This first part will focus on the rise of coworking, its business model and the way it has taken up residence in hotels.
Coworking: rethinking our approach to work
The reasons behind this boom
The pandemic profoundly changed our relationship with work, bringing teleworking to the fore. And despite the return to the office since then, it has become the norm, thanks in particular to the teleworking agreements put in place by 70% of companies.
According to an OpinionWay study, 63% of French people prefer a job that offers the possibility of working from the location of their choice. This preference is even becoming a real expectation, according to a report in Management magazine, which points out that ‘42% of French people say that if they had to change jobs, they would only accept a new one if they could benefit from teleworking’.
Historically, these workspaces were mainly aimed at the self-employed, but their use has now evolved considerably. According to Ubiqdata, 47% of coworkers now work for a company with more than 50 employees.
Indeed, large companies seem to be taking an increasing interest in these facilities, and are offering their staff the opportunity to telework in these spaces rather than working from their own offices. Unsurprisingly, start-ups are also big fans of coworking.
Insolent growth…
All these different types of user have enabled French coworking spaces to post a record occupancy rate of 91% in 2022. Rising demand is underpinning growth in the sector, with the number of coworking spaces in France expected to increase by 23% between 2021 and 2022.
With 3,420 coworking spaces in 2022, France will be Europe’s second-largest market, just behind the UK. It’s a market that’s experiencing what might be described as unbridled growth, with supply doubling between 2019 and 2022.
And this growth is being driven mainly by four major players, namely IWG, WeWork, Morning and Wojo, which between them have increased the installed base…
