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Add co-working space to hotel mix – lift turnover up to 20%

Hotel operators that exploit the enforced boom in remote working by adopting a hybrid hospitality model, dedicating space for offices for co-working and interaction, could boost their turnover by as much as 20% according to hotel experts at Colliers International.

The concept is not just theoretical and the firm points out that companies such as Zoku, Hoxton/Ennismore, Accor, Ace Hotels, citizenM and Kerten Hospitality already mix work and overnight stays with “huge success”.

“Not only could this concept appeal to institutional investors but I would not be surprised if this becomes a permanent new form of hospitality in the future,” commented Dirk Bakker, head of hotels for the EMEA region at Colliers International.

Photo: courtesy Zoku

But Bakker said that there are big differences in the “flex office” models in use across the EMEA region. While in pre-Covid-19 Netherlands, about 14% of people worked from home, in Germany the figure was 5%. The Covid-19 crisis has accelerated the flex office trend, “but the significant cultural differences will remain”, Bakker adds.

But Bakker points out that such a mixed-use function could make hotels better connected to the city and the neighbourhood. “Instead of just serving tourists and business travellers, it will really become part of the local community,” said Bakker.