The 2019 GWA Conference, held this earlier this month in Washington, D.C., examined the latest trends in coworking. Yardi Kube was once again a platinum sponsor of this well-attended event, demonstrating a commitment to the coworking industry and showcasing new updates to the comprehensive coworking management platform. Let’s recap some of the highlights from conference breakout sessions. (Stay tuned for Part Two of this report, with additional insights.) Positioning your coworking space Led by Kevin Whelan, founder of Everspaces, this session was a discussion about customer purchases and what coworking operators can do to position themselves for quick success. Whelan explained that people, in general, buy on convenience or fidelity. Convenience is the purchase that’s based on how easily you can get something. Price, flexibility, and other ease of access factors play into these decisions. Fidelity is all about the experience. Customers will purchase things they truly love (think iPhones), irrespective of price. These purchases are based on status, visibility, elite design and service. Successful coworking operators must define themselves to attract members looking to purchase based on one of the two categories. For example, NeueHouse prides itself on providing a world class experience in Manhattan, NY and Hollywood, Calif. As a result, their pricing is considered among the highest in the industry. Nevertheless, NeueHouse is very successful. Regus, an industry leader, does not provide a ‘wow’ experience. But the company operates numerous coworking locations in major cities, so ease of access and flexibility when traveling is high. Regus price points are considered affordable. Both NeueHouse and Regus are profitable industry leaders in their own categories. Even niche spaces like The Wing, a women’s only coworking space, also operates a magazine, podcast, and retail store, among other ventures. But The Wing’s owners successfully use...