With the number of remote workers increasing, so has the number of co-working spaces. You didn’t think that all work at home employees only telecommuted from home (or Starbucks), did you? Well, now co-working spaces have even transformed into co-living spaces and the later are taking a new dimension in sync with our increasingly globalized world.
Like WeWork or NeueHouse, co-working companies offer shared office spaces and facilities such as meeting rooms, break-out rooms, lounges, F&B outlets and office tables, in exchange of a monthly rent fee. It mainly attracts self-employed workers, contractors, freelancers, work-at-home employees and start-up professionals, since it does not present the same distractions these professionals would find at home.
However, most of these companies offer more than shared spaces. Most enterprises dedicate several resources to improving the relationship between its members. A company that stood out in that aspect was ImpactHub, which focuses on building a strong community of members and encourages collective and collaborative work for positive social impact.
More than just co-working spaces, companies have transitioned to the co-living spaces business. WeLive, the residential offerings division of WeWork, proposes its members to rent furnished units of accommodation on a monthly basis. These include shared services and facilities such as cleaning, laundry, yoga classes, common areas, and member events.
Inspired by a mix between student accommodation and long-stay hotels, the co-living trend arose from the shortage of quality accommodation for millennials in major cities. As young people seek a more sociable and convenient lifestyle, this type of accommodation is predicted to boom in the next few years, with a few companies ahead of the trend such as Common and PureHouse.
Each concept varies slightly on its offering, however, similar to co-working concepts, most co-living companies emphasize on the knowledge and experience interaction among different members.
Now if you think co-working and co-living spaces are a good idea, wait until you read about the “nomadic living” trend.
The concept is simple: In exchange for a weekly or monthly fee, companies like ROAM offer each member a private room and bathroom as well as shared facilities. It is a fusion between co-living and co-working, and best of all, being on vacation.
The intention is to cater to the location-independent people, and offering them a submersion into a different culture with people from different backgrounds, all while still being able to work remotely in the meantime.
Imagine if you could travel and work all over the world, changing countries every time you feel like it and meeting great people along the way, all in exchange of a membership fee. Is this a new trend the hospitality industry actors should invest in? I most certainly think so.