WeWork management has maintained that more customers are drawn to its flexible office space offering as they attempt to figure out long-term real estate strategies in a new world of hybrid and remote work. It now has 62,000 subscriptions to its All-Access pass.
(Bloomberg)—WeWork Inc. said offices were 72% full at the end of the second quarter, matching the occupancy rate from before the Covid-19 pandemic in late 2019 for the first time.
WeWork’s occupancy rate — the percentage of its total desks that were rented out — dropped dramatically during the first year of the pandemic, when many tenants canceled their rental contracts and decided to work from home. That metric hit its low point of 46% a year later...
RSK: Two things here. First being at high occupancy and losing $604 Mil says something isn`t right. Secondly, the demand for some sort of office space even if you work remotely is strong....very strong.
- - Volume: 10 - WEEK: 33 Date: 8/9/2022 10:14:06 AM -