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Home News Business

Consolidations Continue To Impact The Shared Economy

New York-based Common and Berlin-based Habyt will come together to create Habyt Group, giving the newfound company a portfolio of around 11,000 coliving spaces around the world.

Aayat AlibyAayat Ali
January 11, 2023
in Business
Reading Time: 1 min read
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Consolidations Continue To Impact The Shared Economy

Image Credit: Common

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In another shared economy consolidation, two coliving firms will merge in an effort to achieve profitability. 

New York-based Common and Berlin-based Habyt will come together to create Habyt Group, giving the newfound company a portfolio of around 11,000 coliving spaces around the world. 

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Habyt takes a more classic coliving approach, signing long-term leases then subleasing out their shared living spaces to tenants. However, Common uses a management-agreement model, allowing them to split revenue with landlords. 

According to Luca Bovone, co-founder of Habyt and CEO of Habyt Group, merging the two companies will help alleviate increased costs by reducing overhead expenses. 

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The shared economy, which includes coliving and coworking alike, has faced a slew of hurdles in the post-pandemic era. While these environments are certainly seeing demand from professionals and are ideal for slashing costs, the lack of profitability makes any gains moot. 

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Source: The Real Deal
Tags: BusinessCoworkingCRE
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Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

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