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Transactions - DECEMBER 18, 2019

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Co-working space niche operators and more new properties entering sector, creating new competition

by Andrea Zander

Competition among providers of co-working space is heating up. And it’s not just the big names, such as WeWork and Knotel, building up the community of co-working space.

Hotels are seeking five-star ratings by not only accommodating millennials with their social media, but also catering to the needs of business travelers.

While business travel has been at the lowest mark in a decade, particularly due to the economic uncertainty, there will always be a market for business travelers, which spend an average of $949 on airline costs, hotel fees and other expenses during trips around the United States annually, reported Cetify. And business travelers make up 12 percent of an airline’s passengers but represent 75 percent of the profit. In addition, corporate travel spending is expected to hit $1.7 trillion by 2022 estimated GBTA, using 2018 statistics. Face-to-face meetings will always be critical for b

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