Article Published in HOTELS’ INVESTMENT OUTLOOK
MORE THAN CO-WORK
For some hotel companies, the benefits of providing co-working space come from sources other than F&B. At the Moxy Times Square, New York City, a barbershop and tattoo parlor go along with co-working spaces, says David Israel, senior vice president of HotelAve, the property’s asset manager. “We do business in our lobby four times greater than a typical hotel in the city because we’ve created a revenue stream from 7 a.m. through late night, with a focus on filling the typical revenue void of prior to 5 p.m.”
Accor, which has a new co-working partnership with Wojo, appears to be focused on being all things to all customers. “By partnering with Wojo, we shout out loud that our hotels are open to everyone for work, and thus we encourage our business travelers customers to network during their stay,” says Frederic Fontaine, senior vice president, global innovation lab. Accor “aims to become a lifestyle companion, and sees this as an unprecedented opportunity,” he continues. “By integrating new businesses, we continuously redefine hospitality and keep our brands fresh for both guests and locals.” Accor has opened 93 Wojos across France since the June rollout, and it plans to land in all major French cities with 350 locations by year-end, and 1,200 spots in total by 2022. It is also developing Mama Works spaces along side its Mama Shelter hotels.
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