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How Coworking Is Revolutionizing The Hospitality Industry

Hospitality Industry

Gone are the days when a stable job was the one done in an office. The freelancing industry stands at a whopping $1.2 trillion. Among other remote jobs, it has made it possible for people to work from anywhere they want.

This has brought a huge change in the hospitality industry. The fact that one can work from virtually anywhere in the world and still earn a living makes it possible for people to explore the world while still being on duty. But a 9 to 5 job or a remote one, you want somewhere to work from, you can only work from bed for so long. Enter CoWorking!

What Exactly is Coworking?

Coworking is an arrangement where working space is shared across workers of different offices and industries. The shared space provides basic utilities and common services like receptionists and a physical mailing address.

Coworking spaces that provide all the things needed by workers are becoming more and more popular. Especially when they also offer CoLiving.

Students and digital nomads are using more and more Coworking and coliving spaces alike.

Coliving

Coliving is a practice in which people share a living space. It is formulated mainly for single digital nomads who want to have a semi-permanent living location while on the go.

CoWorking and the Hospitality Industry

The industry that is being affected and changed the most by Coworking and coliving is the hospitality industry. The shift in people’s lifestyles from office jobs to remote work requires the hospitality industry to mold to the needs of the new breed of customers, digital nomads.

Hotels are no Longer Just for Vacationers

While people used to stay in hotels primarily for vacations, the scenario is rapidly changing. Now the customers stay in the hotel while they are still doing their full-time job. So people need not only a place to stay but also one to work.

In addition to that, instead of staying for a night or a week, people (who work remotely) now tend to stay longer at hotels, and that needs a total revamping of how the hotel industry functions. The changes are already appearing, and we’ll get to them shortly.

Coworking Spaces are Becoming a Must-Have

As hotels now have guests who want to work while they are traveling, hotels have to provide working spaces in addition to rooms. However, as it is not possible to couple a working space with every hotel room, the solution is Coworking spaces.

More and more hotels are providing this service in one way or another. Some have reserved areas inside their cafes to facilitate remote working guests, while others have dedicated establishments where the guests can go and work while staying at the hotel.

Budget Options are Being Favored

The people who travel and work are not exactly the wealthiest tourists. That has increased the demand for more affordable accommodation. While this is possible in the traditional hoteling business model, the more innovative solutions can easily outcompete the conventional setup.

The people who are living the nomadic life prefer to pay less even if they have to stay in a shared space rather than paying the premium price for a dedicated suite. That has massively increased the coliving business.

Coliving is Becoming the Name of the Game

Coliving is something that comes with Coworking. When constantly traveling, you don’t want to have the most upscale accommodation, but the most affordable one. That is something made possible by Coliving.

Leading hospitality companies provide these services where digital nomads can live in a shared property for a more affordable price than a hotel room.

It does not mean that hotels are going to be obsolete, no. It does mean that to be relevant in a market shaped by remote work, Coworking, and digital nomadic lifestyle, hospitality companies will inevitably have to provide solutions demanded by the customers.

People Tend to Go For Subscriptions

Another change that seems inevitable for the hospitality industry is that of people going for long-term subscriptions instead of daily rents. To understand this, we need to have a look at the digital nomad lifestyle. In this way of life, you are constantly traveling. It is a part of your life.

Paying daily rent for staying at hotels is not the best option for someone living like that. The solution is buying subscriptions. Hotels like Selina provide packages that let people use their facilities for a monthly fee instead of daily. These can often be used at multiple locations, allowing for the flexibility the guests need.

Solutions are Already Surfacing

The change has already begun, and many companies are combining Coworking and coliving. One of the leaders of this innovation is Selina. They are providing one, two, and three-month packages for people who have a nomadic lifestyle. The packages typically include coliving and Coworking spaces. You can learn more about this in this Selina CoLive Review.

The best thing about such services is that they provide the flexibility needed by people who do not travel on a budget. If you are a traveler always looking to save money, this arrangement is the best for that.

To Sum it Up

The increase in remote jobs and online work has created a new hotel customer, the digital nomad. These people need something more than a room to stay, a place to work. That’s where Coworking comes in. It is inevitable that hotels will ultimately have to start providing Coworking facilities if they want to stay relevant in the industry.

The change has already started appearing with the innovation leaders of the hospitality industry like Selina providing services where guests can colive and Cowork using subscription-based payments instead of the traditional per day payment style.

Ajay Deep

Ajay Deep is the brain behind Coworking Mag. He founded this website to help startups and aspiring entrepreneurs find a coworking space in their city. He is a successful entrepreneur who started and scaled a bunch of startups – all from shared office spaces. He has visited hundreds of coworking spaces in different countries and is now an investor in this evergrowing idea of developing new coworking spaces. You may reach Ajay Deep at ajay@authorityventures.com
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