WeWork regains pre-Covid footfall
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In the second quarter, they were 72% occupied, returning to their pre-crisis level for the first time. Last year, this occupancy rate had reached a low of 46%.
After an air pocket linked to Covid-19, the offices of the shared workspace specialist WeWork are regaining their attendance. In the second quarter, they were 72% occupied, returning to their pre-crisis level for the first time. Last year, this occupancy rate had reached a low of 46%.
Despite the upheaval in work habits and the generalization of telework, WeWork has found customers, evolving its offerings to better meet business needs. In particular, the group offers an All-Access pass, allowing space to be rented for short periods.
In the second quarter, sales reached $815 million, up 7% from the previous quarter but up 37% year-on-year. “The results for this quarter demonstrate the flexibility of our offerings, able to adapt to the needs of businesses of all sizes, welcomes Sandeep Mathrani, CEO of WeWork. We are confident in our ability to further increase office occupancy to achieve profitability.” In view of this “very good” quarter, the manager expects to do even better in the coming months.
Read alsoAfter two years of existence, teleworking is no longer a dream
While companies are all looking to reduce the financial burden of their premises, WeWork is in a way presenting itself as the new “Airbnb of the office”, by proposing that they no longer commit to long-term leases that are too expensive. “It creates demand for us,” rejoices Sandeep Mathrani. In addition to managing the premises, WeWork helps minimize risk, at a time when few companies know exactly how many square meters they need today, let alone tomorrow.
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