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Why “Location, Location, Location” No Longer Works
Differentiating Office Assets With Hospitality and Community
"You have to become a destination experience now, people have to want to go through the commutes to get somewhere special."
They talk through 2 of the 5 pillars of Space-as-a-Service: hospitality and community, and why they will be the differentiators that will transcend the old “location, location, location” mantra.
Ian shares the ingredients for success he learned from his time creating the Hoxton’s coworking brand, and he spills the beans on a new Work, Rest and Play upscale Space-as-a-Service brand in Scotland.
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- Can the office become a place people want to go to? I believe the answer is yes, if we create experiences that support good company cultures – Caleb Parker
- Where you've got the 15 minutes city element, I think it works very well to combine your home life, your leisure life and your work life all in one – Ian Minor
- I think we will see a lot more hotels taking up elements within the office environment – Ian Minor
- Across our company we couldn't open up locations fast enough close to where people live, but the hotels are already there. So it just makes sense that they would be able to accommodate some of these workers – Caleb Parker
- It's quite clear that we need a different way of operating – Ian Minor
- Why should hospitality not be in the office life? Office life is part of life and I think hospitality coming into that is going to be a crucial. I think it's logical. – Ian Minor
- You have to become a destination experience now, people have to want to go through the commutes to get somewhere special – Ian Minor
- You need a hospitality team to deliver hospitality, and that's a more expensive element. So you model a staff-cost percentage against revenue of about 14-15% – Ian Minor
- Events sell F&B, F&B helps close deals on desks, desks sell F&B – Caleb Parker
- I think community is the most crucial thing – Ian Minor
- It's about building the workplace with the curious kind of people that want to be members – Ian Minor
- We are in a day in age where become a media driven, content conscious organization is important. – Caleb Parker
- If we attract fans as members, even if they're on flexible terms, the lifetime value of those members sticks around for a long time. – Caleb Parker
- How can we give employees the gift of not only a community with their own colleagues, but also a broader ecosystem? – Caleb Parker
- It's a dynamic multi-functional space with community at its core – Ian Minor