WeWork Is Optimistic about Its Future in Greater Washington Area
Over the two years, WeWork has trimmed its D.C. workspace portfolio. The coworking company went from 8 locations in 2017 in the area to 21 in 2019, to 13 in 2021. Despite its recent coworking location closures, which has helped the company save around $400 million a year according to CEO Sandeep Mathrani, the company remains optimistic about its future in the local area.
Part of that optimism is driven by the company’s recent deal with the General Services Administration. The deal gives WeWork the potential for up to $10 million in new deals with the government this year alone.
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WeWork has also reportedly experienced an uptick in business in the area; all-access bookings have tripled from January to August, compared to 2020. On-demand bookings are up 786%, and keycard swipes increased by 20% in early September.
WeWork believes the increased interest in its products means that workers are eager to go back into the office.
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