Update: 2019 Meeting Room White Paper is now available.
This white paper explores the industry averages of meeting room sizes, prices, utilization, and expected monthly revenue. This microeconomic analysis of Day Office and Meeting Room pricing, utilization rates, and revenue was done by mining the CloudVO database of published prices and actual bookings, and by using data shared by Pacific Workplaces in a case study.
The Meeting Room business is a substantial source of revenue for shared office space operators, with expected revenue significantly higher than alternative use, such as full-time offices or coworking space. This analysis aimed at giving a sense of the potential for revenue per type of room, and per square foot. It also shares statistics on observed retail hourly prices for different kinds of rooms.
CloudVO is the umbrella brand of Cloud Officing Corp., headquartered in San Francisco, California. CloudVO’s mission is to provide comprehensive virtual office, coworking and meeting room solutions to professionals under a Workplace-as-a-Service™ model. CloudVO operates the CloudTouchdown network that grants preferential access to day offices and meeting rooms at nearly 1,000 locations worldwide.