Tell us a bit about yourself before downloading the white paper.
We are excited to announce our 2019 Meeting Room White Paper. This survey analyzes Day Office and Meeting Room pricing, utilization rates, and revenue, and serves as an update to the comprehensive meeting room price review first published by CloudVO in 2015. It is a high-level summary of considerable data and analyses collected and performed in Q1 2019.
We collected hourly prices from 20,710 day offices and meeting rooms in 3,378 locations across the United States, available for booking online directly from the providers’ own websites or via resellers like CloudVO, Liquidspace, and Davinci. We mined the data to draw comparisons across regions and providers, between resellers and original providers, and of course a comparison between CloudVO partners and Regus in each region.
A more comprehensive analysis is made available for free to CloudVO partners to enable them to drill down on their region of operation and use this collection of data to set up more effective meeting room strategies.
In this public version, we are sharing data aggregated on a US-wide basis that highlight different strategies across providers and should raise many good questions in the operator’s mind. We also share meeting room utilization metrics from our sister company Pacific Workplaces.
The meeting room business is a substantial source of revenue for shared office space operators, with expected revenue significantly higher than alternative uses, such as full-time offices or coworking space. This analysis gives 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 various room sizes.
The survey does not include data from hotels or conference centers that have a different value proposition and typically charge higher rates.
We believe this survey paints an accurate picture of the meeting room business provided by the Shared Office Space industry in the U.S.
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.