One of the biggest hospitality groups, Ennismore, shows how merging hotels and co-working improve business.
After the pandemic, most hotels and resorts reconverted to welcome long-stay travelers and digital nomads. Alongside convenient visa schemes, it was one of the most effective strategies to boost local economies after restrictions.
Now, Ennismore founder and co-CEO Sharan Pasricha shows how combining food venues, co-working, and hotels is one of the best ways to diversify and improve revenues.
In partnership with Accor, Ennismore built several lifestyle hotels and coworking spaces. And these venues benefit long-term travelers and people willing to combine relaxation and work trips. Based in London, the hospitality business runs 14 hotel and coworking brands, including Hoxton; Gleneagles; SLS; Delano; Mondrian; and Working From.
As the Ennismore founder and co-CEO said: “Hotel owners like the diversification of revenue. At our hotel [The Hoxton] in Southwark, you’ve got 40 percent of revenues coming from rooms; 30 percent from F&B [food and beverage]; and the rest from co-working.”
In addition, providing healthy food is another key to creating unique locations for people that work and travel. As a new and growing trend, these types of solutions are always in high demand. And they can contribute to improving businesses’ revenue by focusing on new trends.
Merging hotels and co-working is another example of how most people are changing their priorities. Some people used remote work to relocate to more affordable locations. And others decided to try new experiences, pushing businesses to find new solutions.