Daily Digest News – January 29, 2021
Hand selected flexible workspace news from the most reliable sources to keep you ahead of the pack. We find all the latest news, so you don’t have to. Morning and afternoon updates. Stay in the know.
Here’s what you need to know today:
Is WeWork Preparing To Go Public?
Reports from the Wall Street Journal have revealed that WeWork is considering melding a special-purpose acquisition to go public.
This news comes less than two years after the company’s last attempt to go public in September 2019 was highly scrutinized due to its questionable financials and governance.
Sandeep Mathrani, CEO of WeWork, and the company’s board have been in talks with a SPAC affiliated with BOW Capital Management, as well as one other SPAC.
“Our significant progress combined with the increased market demand for flexible space shows positive signs for our business,” a WeWork spokesperson said. “We will continue to explore opportunities that help us move closer towards our goals.”
Businesses Need To Adjust To A Post-pandemic Era
The pandemic forced the retail and restaurant industries to adopt new strategies in order to maintain business, from drive-up and curbside pickup options, to enhancing their online presence.
As we approach the one year mark of adjusting to a pandemic-ridden lifestyle, businesses must plan for what the long-term impact of this crisis will have on the economy and how they interact with their customers.
For instance, gadget companies have already started adjusting their services to accommodate the growing demand for technology devices due to the massive spike in remote workers
With more people spending time at home, furniture and appliance companies could also see an uptick in demand for items that are being used more often than normal.
Even more, fewer commutes will shift how people spend their money, meaning companies will need to rethink their business strategies in terms of location. For instance, many fitness facilities and coffee shops are typically placed close to business districts, not where people live.
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Additionally, online shopping may help keep businesses at bay as the risk of porch pirates decreases. Having confidence that their packages won’t be stolen may encourage remote workers to spend more online.
Businesses are adjusting to the evolving needs of their employees, and companies should prepare to do the same for their customers as we approach the post-pandemic era.
Hotels Are Preparing For A Spike In Digital Nomads
In April 2020, airline passengers in the U.S. fell by 96% compared to the same time in 2019. Due to the necessity of remote working policies over the past year, business travel became an unthinkable concept.
Now, the business travel industry is having to completely reconfigure its strategies in order to accommodate the new needs of professionals.
However, some experts are confident that business travel will rebound as the digital nomad population grows and more people have the ability to work from anywhere.
“I think we will see these two worlds come together, as more and more business travelers opt to bring their families on trips,” said Steven Schumacher, director of sales at Discover Dunwoody outside of Atlanta. “The ‘bleisure’ travel trend will become more prevalent.”
Some hospitality companies are noting this trend and offering services that accommodate these new digital nomads. For instance, citizenM hotels recently started offering a subscription-based global passport which allows remote workers to stay at any of its locations.
The company is also providing a corporate subscription for businesses who want to use hotel rooms and meeting spaces.
Hotels have also started including new technologies to accommodate business travel, such as in-app services, Internet of Things (IoT) tools, and more.
“The biggest issue when traveling remains connectivity and access to local services, being able to upgrade your room’s Wi-Fi connection or easily find and access local services such as mailing or food delivery are big missing pieces,” said Tyler Browning, director of business development at software company MartianCraft.
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