With coworking spaces gaining momentum in India, players from different sectors are increasing foraying into the segment to cash in on the opportunity. The latest company to enter the coworking space is the hospitality player, Roseate Hotels & Resorts.
Owned and operated by the Bird Group, Roseate Hotels & Resorts, on Sunday, announced that it has opened its first premium segment of coworking space in one of its properties in New Delhi.
The new coworking named Upstage Club is spread over 30K sq ft and offers more than 100 desks to startups and companies. As of now, pricing for the desks, at the coworking space, starts from INR 60K per month.
Inaugurating the Roseate’s coworking space, Amitabh Kant, CEO of Niti Aayog, said that it is an innovative concept and will encourage more hotels to enter into this segment. “It is a great space for entrepreneurs and will have a multiplier effect for startups,” he added.
Ankur Bhatia, the owner of the Bird Group, said that this coworking space will help individuals to run their businesses efficiently. “It offers a convenient location near the airport,” said Bhatia. He also claimed that Upstage Club offers a host of facilities that no coworking space is offering in India as of now.
Bhatia further highlighted that Roseate already has partnered with many business heads for its new coworking space. “Some CXOs and business heads have already decided to make Upstage Club their office at Aerocity,” he added.
Founded in 1971, Bird Group currently owns and operated three hotels in India and three more hotels in the UK. Besides hospitality, the group has also expanded into aviation, travel, retail, education and other businesses.
Coworking spaces have changed the traditional way of working. With beanbags, cafes libraries, among other offerings, the shared way of working is attracting millennials and is matching up with the startup culture.
According to a 2019 report by real estate consultancy firm CBRE, in the first quarter of this year, the coworking space witnessed a 277% an upsurge in leasing to nearly 3 Mn sq ft. It grew up by 70% every quarter.
Besides the likes of notable players such as WeWork, Innov8 backed by OYO Workspaces, 91springboard and Awfis, other notable players in the Indian market include the likes of GoWork, BHIVE Workspace, Cowrks, VorqSpace, Base Station, SproutBox, and others.
With so many players, the competition has got really tough over the years and the launch of a premium coworking space by Roseate Hotels & Resorts will further complicate this segment.