Ryan Simonetti, CEO of Convene, has had plentiful experience in the coworking space sector. Convene locations claims to be commercial real estate’s first “workplace as a service” model and projects itself as a hospitality company, providing on-site health clinics, coffee services, and more.
Simonetti said that Convene differs from competitors by being the only company that has strategic partnership with Class A building owners.
The company’s main clientele base is with the Fortune 500, which they provide with temporary spaces for offsite meetings or sales training. It also gives them a better value and amenities than a hotel.
Going forward, Simonetti expects the industry to move towards a new consumption model, where the landlord provides companies with customizable options for the space without putting up capital. The services and maintenance would be outsourced and there won’t be any lengthy negotiations.
Simonetti also anticipates that 10% of coworking companies to be acquired in the next year and that consolidation will play a big role in the market.