As Covid-19 vaccines are increasingly available in the U.S., co-working space provider WeWork said it expects to see an uptick in business.
“We’re starting to see, even in New York now, new activity, so we’re pretty optimistic,” WeWork Chief Executive Officer Sandeep Mathrani told CNBC on March 26.
He noted that increases in WeWork occupation rates rose to double digits in the past two months in 33 markets worldwide. The company has 859 locations in 151 cities in 38 countries.
As businesses offer flexible work schedules with some in-office days mixed with remote work, there are realizing co-working spaces are becoming a necessity, Vivek Ranadive, chairman and co-CEO of BowX Acquisition Corp. told CNBC. BowX announced that same day a merger with WeWork and its intention to take the company public.
“Companies have now decided that flex space is a must-have. Maybe for their own headquarters they want to own that space, but for everything else, they want to hand it over to a WeWork,” he said.