How coworking companies have shifted strategies, markets and revenue streams post-pandemic - The Business Journals
The coworking or flexible office sector has thrived post-Covid-19, showing adaptability to new workplace trends. By the end of 2024, there were 7,695 coworking spaces, a 23.1% growth year on year. With many major operators in expansion mode, they are proceeding cautiously due to ongoing economic uncertainty. Market dynamics, especially in major cities like San Francisco and New York, are shifting, prompting companies like WeWork to reassess their leasing strategies as they consider relocating to more favorable areas.
"The number of coworking spaces at the end of 2024 was up about 2% from Q3 2024... coworking inventory...grew 23.1% on an annual basis."
"We know we have some leases that are beginning to roll... Markets have moved. As some of those leases come due, we may move to another part of the city."