Co-working software platform Nexudus released extensive research on reservation patterns in the US flexible office industry.
Following two years of remote work, most companies decided to keep hybrid arrangements in the long run. As a result, demand for flexible offic spaces exponentially increased in the past couple of years.
Nexudus research is a global analysis of over 3.5 million data points. Their findings analyze the US flexible office industry between 2016 and 2021. In short, the study explores how resources and amenities impact booking and demand.
Here are the key report’s findings on the US flexible office industry:
- Non-members’ bookings are on average 36% more profitable than subscription bookings.
- Flexible spaces with a maximum capacity of fewer than five users account are 45% more convenient than capacities between 10 and 19 users – it’s harder to combine booked time and available time.
- From 6 AM , the average booking duration is 160 minutes. During middle hours, it is between 120 and 90 minutes. Furthermore, a 6 PM booking increase duration to 140 minutes.
- Co-working spaces with a max of 40 members are more active after 6 PM.
- The booking price by a member and a contact differs between $55 to $75 per hour.
- Larger workspaces earn more with members with an existing office plan.
- In the same vein, larger workspaces record a 50% higher turnover rate among users with a dedicated desk plan.
Even with fewer COVID restrictions, the US flexible office industry keeps growing. As Nexudus co-founder Carlos Almansa said: “The USA is not only the birthplace of the flexible workspace industry, but is also the world’s largest flex space market. A study of this scale is incredibly valuable in helping owners and operators to understand how the market has changed, and how they can create and operate spaces fit for today’s users. The use of meeting rooms in flexible workspaces sets the day-to-day pace of a facility, but is also an essential source of profit for these workspaces. Having a deeper insight into how these resources are used is critical in maximizing both operational efficiency and return on investment.”