A Simple Solution
For decades, the corner office was the embodiment of status and productivity. It was the mark of a career well spent. And even if you didn’t have it yet, it’s why you kept coming into the office: to make it there one day.
At least, that’s how it used to be.
For much of the millennial generation and some of Gen X, productivity looks more like a chair at Starbucks next to a power outlet. This was the generation that grew up making work happen wherever they could get WiFi. Unsurprisingly, this would become the generation that forced new questions about the role of the office.
So, it should also be of little surprise that a generation built on making work happen wherever they could, were uniquely equipped to handle the realities of 2020…but only to an extent. As equipped as this new workforce is, you can only go so far on shoddy WiFi, limited lighting and household distractions. This, is where the hotel industry is stepping up.
From New York to Los Angeles, we've seen an industry-wide push from the hotels to provide spaces that are something in-between the couch “desk” and the traditional office. These “pop up offices” range from $30 a day motel offering with a desk and WiFi, to fully integrated luxury work experiences, complete with access to standard hotel amenities if you need a lunch break dip in the pool.
The benefit extends to employers as well.
In an interview for CNN, Mark Gilbreath, founder of LiquidSpace notes that:
"From a corporate perspective, signing a five- to ten-year lease for an office building is a completely broken model…Real estate is the second largest expense for most companies, and if you look inside the corporate campus, that desk you're assumed to be at all day, you're only at a third of the time."
Not only that but USA Today reports that of 600 meeting planners surveyed by Hilton Worldwide, 63% said that meetings outside the office are more productive, and 87% said that meeting at hotels was a more “relaxed” environment compared to other outside locations.
For brokers and landlords in the hotel space, the time is now to capitalize on a market moving away from long-term office leases and a workforce that is indicating it has no intention of returning to the way things were.
At Wolcott, we’ve been leading the charge for thinking outside the box with pop up offices, amenity repositioning’s and whatever else our clients need for their unique 2020 pivots. With deep experience helping bring commercial spaces to life, we’re ready to partner with to bring the future office to life.