Bhushan Bhad Managing Editor
he aspiration of establishing a social community
Thas migrated the human ecosystem from the river bed to the skyscrapers of the urbanscape. And, as witnessed with challenges of natural phenomena, humans have been efficiently introducing various solutions that did become the bridge between being an individual entity to transforming into a mutually existing society.
Realizing these developments, one may get instilled with pride and enthusiasm and proclaim that humans have been the most intelligent species that has been proving to the world for being not only the most civilized but also perfectly fit for survival amongst the socio-environmental challenges.
And, taking this leap ahead, social existence amongst multicultural diversity has been the challenge of today. The unipolar world that was the normal of the past is no more an accepted norm and is also not the one to be appreciated!
Looking this as a severe injury to community happiness, stand in the contemporary times of the 21 century, businesses have been scouting the globe with solutions that get the communities closer and relive the demography from an individual setup. And Real Estate and Hospitality industry niche have grabbed the global spotlight for the same.
These two segments of business space have fused together to provide the best lifestyle in the busy urban city lights.
With an ambiance that celebrates individual space and, at the same time, facilitates a holistic experience that enchants the human soul with peaceful harmony along with a zeal that celebrates urban culture in a tandem of individual choices too!
Excited about the aforementioned ideation and looking for the industry that can get you the identity you had been visualizing through the above text. Check for our latest edition, “10 Coolest Coliving Spaces Around the Globe To Check Out .”
Please check through the insightful article opined by our inhouse editorial team.
I hope you have a happy read!
,,The fusion of Real Estate and Hospitality segment has introduced the world with Co-living spaces and its time that businesses utilizing the opportunity and skyrocket growth to Time and Beyond!
Trends of Co-living Spaces
D'Souza
Anish Miller
Trishika,
King
Paul
Sherin
D'souza
Kelly, David
Amar Sawant
Fartade
July, 2022
Circles House circles.house
Natalia Juncosa Co-founder
Circles is the global boutique coliving and coworking for conscious entrepreneurs.
City Pop citypop.com
Manuel Sassella CEO
The focus of the City Pop concept is not only to enable its customers to simplify their stay but also to make it easier for them to discover and get involved in the city.
Compass Offices compassoffices.com
Gather Coliving gathercoliving.com
Neybor neybor.co
PadSplit padsplit.com
ST Residences stories.stresidences.com
Amaury Courbon Co-founder Hans Leijten CEO Jonathan Chawla Founder Matthieu Ghins Co-founder
Colonies’s provide spacious and comfortable shared spaces, ideal for work and leisure.
Compass Offices provides corporates and professionals with business-ready flexible office space at business centres located in prime districts in Hong Kong, as well as across major cities in Asia Pacific.
Gather Coliving provides shared living spaces for urban dwellers to minimize loneliness and housing costs.
Neybor creates homes to be shared, to be lived and to be loved.
Rove Hotels rovehotels.com
Atticus LeBlanc
Founder and CEO Donovan Goh Founder Paul Bridger Chief Operating Officer
PadSplit has a wide range of rooms and locations to choose from.
ST Residences provides a one-stop solution to furnished serviced apartments island-wide.
Rove properties have been designed for digital nomads and modern travelers looking for fuss-free service, a touch of local culture, convenient facilities with all the essentials, and great value.
Selina selina.com
Rafael Museri CEO and Co-founder
Selina is a nomadic lifestyle brand offering new physical and digital platforms to accommodate the needs of a new generation of travelers and remote workers.
Manuel Sassella CEO City Pop
ome is where the heart is. However, sometimes in
Hlife, people have to live away from their homes in other cities for various purposes. Finding rental apartments and settling down in the new town takes lots of time and energy. One has to put some hard work into getting to know the place to find comfort in living there.
To facilitate a comprehensive solution while solving challenges faced by newbies in the city, from renting houses to comfortably settling in, the City Pop came into existence.
This Zurich-based apartment leasing company was founded in 2014 to respond to the changing needs of society and to fill a gap in the real estate market. Manuel Sassella, the CEO of the company, and the City Pop team ensure highquality guest service through innovation and by creating a community atmosphere for people to make connections.
City Pop has introduced the innovative and future-proof living solution where the surface area is optimized to make guests' lives easier and more relaxing while relinquishing city hustles, fun, and rewarding! Its buildings offer fully furnished apartments of 21-83 sqm to rent for 4 to 52 weeks, which, thanks to its app, are as easy to book as a hotel room. Plus, quick and secure booking, intuitive checkin, a wide range of services, fast Wi-Fi, and an active
community eliminate the stress of business travel, getting around, and everyday life!
Without further ado, let's explore the awesome and wholesome story and experience of City Pop.
The advantage of City Pop lies in the fact that by providing one month to a maximum of 52 weeks as a possible booking period, the company has taken a clear position in the market that nobody offers today. Therefore, City Pop is confident that its occupancy rate will remain as good in the future as it is today.
“What is most innovative about our concept is, undoubtedly, first and foremost, the City Pop app. It represents the heart and soul of our concept. Through the app, the entire customer experience is customized according to everyone’s needs,” says Manuel Sassella, CEO of the company.
In developing the co-living concept, the company went to market with an innovative and functional MVP app. The team of the company constantly asked its pioneering tenants for their feedback and suggestions. In this way, it has managed to release a new native app that is even easier and more intuitive, where it is gradually integrating new services and functions that make it easier to live in a city that you don't know yet or that you want to explore even more.
“Everything we do is geared toward offering the best living experience to our varied target group ,” Manuel stresses. The members share the common denominator of being dynamic and looking for a product that allows them to live in strategic locations, close to services, and in a flexible way.
For guests, the company has designed and developed a new modular apartment design that meets their needs. This new offering places City Pop at the forefront of innovation in its category and allows its unique design and placemaking culture to be implemented in both new and existing hotels and office buildings.
The City Pop apartments maintain the same minimal and elegant design. Their spaces, from the smallest to the most spacious, allow clients to enjoy complete living: relaxing, working, sleeping, cooking, eating, and keeping fit.
Expanding your horizons beyond what you’re familiar with is something Manuel Sassella knows too well. Manuel started his career in the real estate sector at a very young age in 2011. He was only 22 years old when he joined the Ar sa Group, as an assistant accountant. At the same me, he completed his studies and obtained the federal diploma of Specialist in Finance and Accoun ng.
In a short me, he became a trusted collaborator for the group, and he was responsible for the accoun ng of construc on sites. In 2014, he was appointed a member of the Board of Directors.
Extremely curious and always looking for new challenges, Manuel's team started designing a new living concept. And, with the company and its heterogeneous and mul func onal team, they asked themselves what the gap in the market was. They came up with a concept that would an cipate and meet the needs of young workers and reless dreamers like themselves.
Manuel is highly a ached to the value of family and recognizes its importance. It was therefore crucial for him to be able to ins ll this sense of belonging within the concept. He worked closely with the app development team so that the app would provide the opportunity for City Pop customers to socialize in the online world, but especially offline. The first contact is generated in the app, but it is in the co-living places, where the buildings are rich, that people meet.
“I was the happiest person on Earth when I moved in, stayed a whole year, and I loved every moment of it. I was heartbroken when I had to leave (Covid=work). Wonderful design, and quality items (furniture, home accessories), but the absolute highlight is the team. Real professionalism and they always went above expecta ons, loved the events as well. Happy memories, I hope I can return soon”. MichaelCustomer of City Pop – Bern
“We are sa sfied. The quality and price are propor onal. The customer service is always nice and responds quite fast. We also really appreciate the small gi s we receive for Christmas or other occasions! Thanks a lot!!!” - Ma lda - Customer of City Pop – Zurich
“As rapid growth in urban centers continues to spur developers and owners to create new solutions for buildings, we wanted to offer a fitting solution to this growing need,” Manuel points out. Furthermore, he adds, “Using our neuroarchitecture expertise, we developed a smarter approach to space - by creating more value and flexibility on fewer square meters.”
The company uses its neuroarchitecture knowledge to optimize the shared spaces. Its co-living/working spaces are designed to instill well-being and increase the ability to concentrate, thus helping to achieve personal and professional goals, while the breakout areas are designed so that the mind can recharge itself.
Following the successful opening of its five buildings in Switzerland, City Pop is now ready to conquer the European market with its cool design and concept, which is evolving every day.
The focus of the City Pop concept is not only to enable its customers to simplify their stay but also to make it easier for them to discover and get involved in the city and in an active community that smells like family.
For the members of its community, City Pop’s team organizes dynamic and adventurous events and activities. In these activities, tenants living in the different cities hosting the concept and their friends can participate in building new
connections, exploring, and expanding their passions, and, mostly, have fun together. “We’re trying to embody that real meaning of hospitality, putting the customer first and building a community around them, ” Manuel tells us.
“
Creating that sense of togetherness is what we're all about. Therefore, our buildings also provide multifunctional spaces, designed to facilitate effortless interaction with others,” says Manuel. The guests discover a warm, kind, and safe place where they can ground themselves easily and make long-lasting connections.
City Pop has a dedicated in-house team that works on devising and researching services that favor its customers’ having more free time, freeing them from tedious tasks. The company firmly believes that the homes of the future should facilitate their inhabitants' lives and not give them additional work. That is why it has dedicated an internal division, which the company is increasingly expanding. City Pop aims to create innovative living solutions. It is always on the lookout for partners who espouse its corporate values and beliefs.
The company personally chooses its partners because it wants to guarantee its customers both quality and security. As an example, the company makes sure the cleaning service for its customers is someone who is known, recognizable, and reliable.
The services City Pop offers to its tenants are also aimed at making their lives healthier and more interesting. In addition to these basic services for an easy living (cleaning services that can be customized according to one’s preferences, parking, private storage, car, and bike-sharing, etc.), the company offers shared spaces that provide a healthy social environment.
It has in-house gyms to stay fit without any excuse, cokitchens to share an interesting dinner with other tenants or friends, co-cinemas for an Oscar night, and sound rooms to train their passion without disturbing those who want to enjoy a relaxing moment in their apartments.
City Pop also cooperates with local and international partners who match its corporate vision and shared values. Both with a view to making life easier for the tenants and to sustainable living.
“
We work with partners who enable sustainable mobility. Thanks to these partnerships, we can guarantee our tenants
will always have a green service at hand. There is always a dedicated station for them in front of our buildings, and our customers benefit from free minutes and additional discounts,” says the City Pop’s team.
The company has integrated necessary services for customers into its app. For example, customers can easily book a washing machine and a dryer using the app. It even gives notifications on the status of the service so that no time is wasted.
The app’s ‘Around You’ section suggests local bars, shops, activities in the city, tips on the best local products to buy, etc., both to easily engage the tenant in his neighborhood and make him feel immediately at home and to promote local activities.
“Our concept underlines our ambition to create a vast network of City Pop in European gateway cities. We have been perfecting our offering in Switzerland since 2019 and feel confident that City Pop's philosophy—and design—can help transform existing real estate to become more agile and future-proof ,” Manuel adds.
“City Pop is the place where we ourselves would like to live, is the motto of the company,” says the CEO. The
company focuses on staying true to this goal by providing opportunities for its employees to stay at the choice of their City Pop location. This allows them to experience the lifestyle and continuously generate feedback to improve the services. It helps the company succeed in improving City Pop every day.
“
We believe that great things never come from the comfort zone, which is why we strive every day to approach everything in an innovative and challenging way. We do not take a process for granted; we are always improving it and adapting it to changing needs,” Manuel conveys.
“The pillars on which our company is founded are efficiency, proactivity, professionalism, and flexibility.”
The City Pop team has ensured as many technological tools for the customers as possible. With this power, customers can comfortably access the services of the company as they prefer.
When asked about what the most important technology feature for City Pop is, Manuel says, " In my opinion, there really isn't one that is more important than the others, but one that really makes me realize that we are going in the right direction is the automatic apartment visits.”
This option allows the customer to visit a flat via an app before booking it so that they can dispel any possible doubts, thus increasing the credibility and, therefore, the value of the company's product.
“ This feature allows our customers to book a tour of the flat at a time they prefer so that they can imagine themselves at home and see if it is the apartment that suits them best. No unpleasant surprises, just the pleasant smell of home!” adds the CEO.
Nowadays, most companies focus their marketing on social media and advertising campaigns and use influencers to promote their brands; these are certainly effective tools. However, the City Pop team tries to change the game and focuses its energies on getting people to find a lifestyle in their flats.
Speaking about the marketing strategy of the City Pop to promote values of togetherness, Manuel says, “Our corporate philosophy is also reflected in our marketing
strategy. We believe it’s important to live in a community that feels like home and family. And we want to convey the message that ours are not aseptic flats in which to spend a few days or a simple alternative to a hotel. We are a family, and we welcome you home.”
This is something that seems difficult to accomplish, but the company achieves it by creating an active community and organizing events that engage them and cater to everyone's tastes. “We focus on designing furniture and the creation of common spaces in order to enhance the lifestyle of the people living in the buildings,” notes Manuel.
City Pop has been a true promoter of multicultural coexistence as it houses people from different nations and different cultures in one location. Speaking about this, Manuel says, “We have realized that our customer base boasts clients from all over the world. Looking in the CRM of our back office, we discovered that they come from more than 40 different countries.”
“We are extremely proud of the melting pot that has been created, and this spurs me on to make sure that this trend is also respected in the hiring process of our team.”
To match the diversity of its customer base, the company hires professionals from diverse backgrounds. As Manuel states, “We are not only a young and fun company, but we are also multinational with colleagues from all over the globe.”
He mentions, “Sharing your ideas with people from different cultures broadens your horizons and makes you approach everything with more creativity and a better frame of mind.”
When asked about what advice he would like to provide to those who are aspiring to enter the industry, to which Manuel answered, “"Today, real estate is a highly interesting and at the same time competitive sector. It is a very good one, although not the easiest one. It really takes a lot of persistence, especially since the real estate market is no longer static as seen just a few years ago.”
Across Europe, Manuel has observed more competition for the best properties and increased market pressure for greater efficiency. According to him, there is also a shortage of people to hire because everyone struggles for talent. In this
scenario, he says, “To get the best, you have to make sure you have the right corporate philosophy to attract the right people.”
“
Finally, it is crucial to make sure you keep up with technology and innovation. You have to understand how to operate to keep up with both the needs and expectations of your customers to get the best out of your property,” adds Manuel.
Furthermore, he advises that “it is always crucial to ask yourself which segment your property was created for and which audience you should best address. Therefore, make sure you think from their point of view in every important decision.”
At City Pop, when creating new services or designs, the company involves its guests through interviews and prototype testing. This way, it makes sure to offer its customers services that are useful and appreciated.
“
In the end, it seems hard to say, but you just have to make sure that every project has a soul,” he suggests.
City Pop’s development plans for the next five years involve constructing 15,000 apartments in major European cities and creating a tribe of highly mobile people. Thanks to important investments in the integration of the most innovative technologies, the synergies the company intends to cultivate with service providers, and to constant and indepth studies to improve its products. City Pop intends to evolve its concept, guaranteeing ever higher quality standards.
Manuel tells us that, “We are always looking for new locations to take our concept worldwide and offer our members the possibility of finding us in the main European cities.”
For this reason, City Pop is opening offices in the cities where it wants to bring its concept to better understand the market and its needs. The company is also hiring experienced local talent to select the best locations for its target group.
“
In order to grow at the pace, we have so far, one of the things we are doing is to get framework agreements with European developers who can help us in our ambitious growth,” concludes Manuel.
Millennials spend approximately nine hours in spaces like bedrooms and bathrooms, which incorporates 40% of the total apartment space, as per Millennial Space Usage Trends . On the other hand, utility spaces such as the hall and kitchen, which account for 60% of the apartment space, are only used for up to three hours on a regular basis.
The innovative concept of co-living has become a housing solution for the millennial generation. With the goal of addressing low-use rooms while offering cost-effective solutions to urban housing, co-living solutions have managed to provide smart space utilization, which could save expenditure by up to 10%.
However, Angelica, a contributor at Forbes, identified that the recent development of co-living spaces may still be targeting a slightly older population as a demographic. As a result, they not only desire a sense of community but also prefer to have a larger living space than those afforded by micro-living products.
Addressing such a concern, recent emerging co-living models are encouraged to replace micro-housing opportunities with larger spaces while targeting the needs of wider demographics. In the upcoming years, such a strategy is likely to turn co-living into an all-inclusive and widespread movement, making it highly adaptive to the needs of the target population.
Let’s have a look into the emerging trends of co-living spaces to watch in 2022.
Co-living businesses alone contribute to 40% of the total carbon footprint in the UK.
In response to such a challenge, Matt Lesniak, in a 2021 interview on Co-living 3.0, pointed out that co-living businesses have been falling behind in prioritizing sustainable long-term living. Hence, there is a greater room for addressing affordability, shared living, stronger engagement, and accessibility, instead of simply seeking 20% for planning affordability.
He further predicted that advancements in Co-living would incorporate environmental and social sustainability, which will be the core of co-living business strategy. These objectives would align with UN Sustainable Development Goals (SDG’s), while encouraging the co-living businesses to collaborate with climate activists, focusing on architecture and sociology.
The heart of a co-living business is to emphasize maximizing social value, as per a 2021 article on co-living spaces. Hence, the designs and interiors of co-living spaces would be structured in a way that facilitates social interaction at a frequent level.
Matt proposed that co-living would be built on a framework that may promote collective and personal wellbeing, improve community participation and encourage authentic connection. To attain such an objective, there would be a keen integration of technology that would optimize communication within.
Glimpses of social value could be observed in instances such as the co-living space located in the countryside of Berlin, which holds a strong emphasis on neighbors' engagement and social interaction being promoted through its design.
For co-living spaces to feel like ‘home’, with a greater sense of community, customer demands have helped shape the industry towards its objectives. This could be attributed
to media and education, which have raised the popularity of co-living spaces.
A 2021 report on Art of Co suggested that as the customer demands towards sustainable approach have been rising, the councils and government will be encouraged to take responsibility over co-living structure and planning of coliving structure that are aligned with ‘user needs.’ This would ultimately facilitate the development of a more human-centered co-living space.
In the coming months, there will also be an influence on the investors who will support the development of cities and neighborhoods that align with higher standards of sustainability.
As per a World Health Organization report, approximately 70% of the population will be living in urban environments by the year 2050. Considering the co-living housing model that has become a cost-effective solution for the younger generations today, such a prediction could be true.
However, the concept of co-living is still young within the industry. Hence, it would require new paradigms of thinking. The co-living operators must encourage themselves to ask, “How can co-living become a long-term way of living?’ -- that would not only create a sense of “community” and “affordability” but also incorporate a holistic approach towards social value and sustainability.
The COVID-19 pandemic has adversely impacted the growth of the various vertical sectors of the economy. The hospitality industry is one such industry that faced a devastating impact due to the pandemic. It saw a significant dip in its sales, which also cascaded into the real estate sector.
But well, right then, there was a shot in the dark!
With coronavirus stuck in cities, the concept of co-living took a big hit. Instagram-friendly common rooms and longstay vacation homes became the new normal.
Breaking through this pandemic cocoon and showing a ray of light to the hospitality industry by offering co-living spaces is Rove Hotels. It is one of the Middle East's fastestgrowing lifestyle hospitality brands. Opened in Dubai in 2016, the brand now has over 4,500 operational and under development rooms across the region. From beach destinations to business hotspots or touristic landmarks, Rove Hotels have a variety of locations to suit all needs.
Under the revolutionary leadership of its Chief Operating Officer, Paul Bridger, the company envisions developing affordable, quirky lifestyle hotels to support the growing tourism industry in Dubai and the wider region.
To know more about Rove Hotels and how Paul’s leadership is helping the organization expand, kindly delve into its relaxing story!
A jumping-off point for city explorers, Rove properties have been designed for digital nomads and modern travelers looking for fuss-free service, a touch of local culture, convenient facilities with all the essentials, and great value.
Rove properties are known for sleek interiors full of Instagram-able corners and curated local art. Inspiring coworking spaces and creative hubs such as a podcast studio or a photography and videography studio launched in collaboration with Nikon.
The hotels are a basecamp at the heart of the city. A homey and relaxed place where Rovers (guests) can be themselves. There are no dress codes, formalities, or waiting for the valet car to arrive. Everything has been carefully thought out, from offering in-room mini-fridges to having universal USB and electrical sockets in all rooms.
Work from Home to Work from Rove! Rove Hotels have been designed with convenience in mind. Every property offers well-designed, comfortably sized rooms, free self-service parking, a 24-hour laundromat, fast Wi-Fi, and inspiring co-working spaces.
Paul states, “We believe remote working is here to stay. Many positions are becoming cloud-based as employers take advantage of their opportunity to reduce operational costs associated with office spaces and provide employees with flexible working conditions.” This being a part of the newly evolved workspace, catering to the needs of remote workers takes utmost precedence in its agenda.
Because of that, every small detail around the hotels has been thought out to ensure that whether Rovers (guests) are staying for a short trip or an extended period of time, they have all the essentials they require to make the most out of their time. Some examples of these are the mini-fridges provided in all rooms so that Rovers can store their drinks and snacks, the fact that we offer universal and USB plugs everywhere in our hotels, we have lots of games in public areas so they can enjoy their break time and even dedicated booths for video calls in some of its properties. For larger groups, Rove also offers a variety of modern meeting spaces across all its hotels.
In regard to co-living specifically, the company does see a lot of demand for monthly stays across its hotels. Dubai is a perfect destination for remote workers; hence last year, Rove Hotels partnered with DTCM (Department of Tourism and Commerce Marketing) to launch the Live + Work package, a co-living offering ideal for anyone planning on relocating to the city to benefit from the virtual working
program. The offer provides a hassle-free experience and all the necessities to start their new life in the city with nosetup fees, hidden costs, or long-term commitments.
Rove Hotels are forward-thinking, innovative, and community-driven.
Rove properties are much more than a bed for the night; they are a basecamp for global travelers and local residents to explore and meet. Paul shares, “We regularly hold art exhibitions with locally-based artists, engage in community events happening in town, organize photography tours and many other events.”
Furthermore, it finds that Rovers (guests) appreciate that the experience the hotels provide across all its settings is quite consistent. Paul asserts, “No matter which property you go to, you’ll always enjoy the same service style and facilities
across all locations, with the exception of a few unique features present only in specific properties such as the boutique cinema room at Rove Downtown. This means that wherever people rove, they know we'll deliver what they are looking for.”
Paul joined Rove in 2016 with a vision to develop affordable, quirky lifestyle hotels to support the growing tourism industry in Dubai and the wider region.
Since then, Rove Hotels has become one of the fastest and most successful hospitality lifestyle brands. Co-living was always part of the brand's DNA, from the quirky interiors to the community-centric facilities; Rove properties are ideal for those looking to live and work at the hotels. While packages were on offer, the big shift in public perception and demand came with the pandemic's start, as remote working became mainstream. Since then, Rove has seen very strong demand across all its properties, and Paul expects it to continue into the future.
Paul believes that hotels are much more than just a place to sleep. Rove has been designed to be a hub for co-living; it's part of the brand's DNA. “That’s why we are a ‘front of mind’ place for content creators and digital nomads. Our main idea is to make professional creative hubs accessible for everyone.”
With the start of the pandemic, the company saw a surge in remote working and people looking for spaces to work safely and with no distractions. “We were quick to adapt to the new market needs and add a number of spaces to our properties to better cater to them,” shares Paul.
Some of these include the region’s first private hotel offices, which were launched across all its properties.
Not long after that, the company also launched its very own recording studio, the Rove Podcast Studio, and the #RoveWithNikon photography and videography studio –both are fully equipped with easy-to-use plug-and-play equipment, and the self-service spaces are suitable for both amateur and experienced professionals.
Another instant hit was Rove's Gamer Caves – the MENA region's first-ever hotel rooms designed exclusively for gaming. It became a viral sensation making waves locally and globally. It was a step forward for the future of gaming and virtual events in the region, providing a fun, accessible, and affordable platform for amateur and professional gamers and further strengthening the UAE's thriving eSports community.
Paul asserts, “We weren’t afraid of taking risks and doing things differently. That has helped us tap into new communities that appreciate forward-thinking innovations.”
More and more people have joined the ranks of digital nomads in the last few years, as the remote job market has been booming. “We consider co-living has a bright future ahead, and those looking to get into the space should consider key aspects such as having well-connected locations and developing a strong community around the properties and the brand,” emphasizes Paul.
For Rove, it was vital to create relaxed and modern living spaces in an inspiring environment for people to interact and share experiences. The company currently has a total of nine central locations across Dubai, all of which are very popular with young professionals and freelancers who can live and work in the hotels while enjoying convenient amenities such as free Wi-Fi and leisure facilities, including a gym, swimming pool, and more.
Rove’s long-stay options are more convenient and affordable than renting an apartment, allowing Rovers (guests) to renew month on month with no commitments and enjoy all the services of living in a hotel –housekeeping, access to the pool, and gym, a self-service laundromat, free parking and more!
Roadmap to the Future
Paul hopes that the last quarter of 2022 is expected to be an outstanding season for Dubai hospitality, thankful to global events such as the FIFA World Cup in Qatar and T20 Cricket World Cup in Australia. The city is a perfect stopover hub for travelers flying to these events. "We are sure that many new visitors will get to discover and experience the brand for the first time, which is great." Paul
further says, “To top it all off, the city will be hosting many events during the period. It's definitely going to be a really busy period for Dubai!”
The company currently has nine great locations around the city. All are very well connected and have easy access to the Dubai Metro and public transport. This gives it the advantage of catering to any clientele, whether it's a business trip, leisure, or a stopover. Wherever you want to stay, there is a Rove nearby. Fancy a relaxed beachfront, waking up to Burj Khalifa views, exploring Old Town, or roving around the Expo site – it has got everything covered.
Beyond 2022, the company plans to continue its rapid expansion with more locations in local and regional markets. It has announced Rove Hotels in the Kingdom of Saudi Arabia and other Emirates, including Ras Al Khaimah and Sharjah, which will bring the company's overall number of keys over 5,000.
Vanity,
S street to worry free?
o what are the 7 steps to take you from struggle
Profit is sanity. improving your profitability will improve your cash flow. There are 2 ways to improve your profitability:
Increase your prices – When was the last time you reviewed your prices? Could you add perceived value to your product that costs you little or nothing to justify your increase? With inflation going up and near the beginning of the new financial year, would it be worth considering an increase to your prices?
Decrease your spending – Doing a budget for your business is a sensible business strategy and regularly reviewing your expenses and cutting out wasted costs will improve your profitability. How often do you read that industry publication you subscribed to years ago? Do you have a cash flow forecast that can help you plan your spending?
How often do you read that industry publication you subscribed to years ago?
It is worth talking to your advisory accountant or CFO about your spending. A flow on effect of increasing your profitability by reducing your spending is increase spending in areas that will increase your turnover. Like advertising through social, print or networking. But that is another presentation.
Get customers or suppliers to fund your business
You can have customers fund your business by:
Encouraging them to pay a deposit or up front
Reducing your terms meaning they pay you sooner
Or set up so they pay you a retainer
Suppliers or Creditors could fund your business by:
Negotiating and increasing their terms
Using consignment stock (You only pay them once the stock is sold)
Using multiple suppliers and negotiating terms between them
is Sanity and Cash
Rohan Burgess is the founder of Capital Financing and The CASH Club. He has been in the finance industry for over 30+ years and has learnt that Cash in the bank is what will help you grow your business. Adversely, lack of cash in the bank causes stress and stunts a desire to grow a business. Through his time in collection agencies and with the Sheriff's office, he has seen firsthand how mismanagement of cash flow in personal and business can hurt a family, destroy a business and cause undue stress. He has learnt at least 7 steps (these 7 steps) that could help grow and even in some situations save a business. Over half of the businesses that fail or fail to grow is due to mismanagement of cash flow.
The Cash Club was started to equip business owners with tools, resources, and connections to help them grow their business. Whether it is understanding Cash flow through articles like this, to giving them access to top line professionals like accountants, bookkeepers or financial planners to walk them through different aspects of their business journey.
Automate and Optimise your Processes
Job software that automatically sends out invoices
accounting software like Xero, MYOB or
written processes that are time relevant
common mistakes usually from human error:
Neglecting to send invoices
too late or paying more for urgent shipping
and errors in record keeping
or goods
are
clients pay you late because you have allowed them to in the past. Its your money and you are entitled to it if you have completed the work
follow up on outstanding invoices
Follow up with a phone call (Don't rely on SMS or emails)
Phone call a day later friendly reminder
Second call day after agreed payment date a little firmer
Third call day after agreed date Firm call last chance
next call from a debt collector
95% of late payments will be paid by this stage
for a payment date at every stage
any issues quickly
over the phone payments
Take credit card payments (Stripe, B2BPay)
Include bank account details on account statements
Be consistent
your clients incentive to pay early
for upfront payments
early bird incentives
Introductory offers
or invoice finance where the lender will lend you up to 80% of the value of your outstanding invoice and then pay the balance when your customer has paid
chain and import finance where you can extend your terms on the bills you owe up to 180 days.
term business loans
Governments at all levels want to improve and assist business in their communities. -- They offer different grants from specific needs grants (like marketing or staffing) to a wider range of grants for things like R&D or exporting.
- During the Covid-19 pandemic in 2020 governments were offering grants to suffering businesses to assist with cash flow and improve the chance of the business surviving a serious downturn in world economies during the crisis.
- It is worth talking to an advisory accountant or grants specialist about what might be available for your business.
One thing I've learned being in business and being an SME is having the right people around you is key to growing a great business. You know your craft and you are exceptionally good at it. But when it comes to running a business, there are a lot of different caps you need to wear as a business owner. I can guarantee that they do not all fit you, so the best thing you can do for yourself, your family and your business, is having somebody else wear those caps. Engage, employ, or outsource experts in their field. Accountants, bookkeepers, Lawyers, financial advisors, and finance brokers.
I hope you have gotten something out of this short PDF. If you want to find out more about improving your cashflow, I will have a 7-module series and workbook coming out in the new year, where I teach you Cashflow for Growth in more depth. Please click the link below to go on the waitlist and I'll send you the details when it's available.
The post-COVID-19 era has offered a rare opportunity for organizations to reconsider the way they work, i.e., the hybrid future.
With the new off-side office opportunity, a 2021 Mckinsey & Company report evidenced that within fifteen months it has begun to impact social cohesion negatively. While on a regular office workday, employees seek enough opportunities to collaborate with each other, within and outside their teams, further developing connections. However, Bryan Hancock observed that the level of collaboration has gone down, despite the communication levels going up, in hybrid work models.
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There is simply more to human existence than work”—Thomas stated in a 2021 article.
Such a concern has sparked organizations to rethink corporate culture to help navigate change effectively. There is a lingering question, “What does a return to the workplace look like?” in an attempt to reshape culture and accommodate hybrid work models.
“We’re really trying to see the office in a different way”—James stated, in a BBC report. Organizations, in an attempt to make their offices more collaborative, are now approaching co-living workspaces.
Let's have a look into how co-living working spaces are addressing the hybrid work conflict.
A UK-based study conducted on three thousand remote workers demonstrated that around 67% of the employees felt disconnected from their colleagues. On the other hand, approximately 49% of those said that such a disconnection negatively impacted the way they perceived their job.
Realizing a need for connection in times of virtual existence, the individual space in several workspaces is being transformed into a collaborative form for individual workers to get together.
These spaces are intentionally designed in an unstructured manner where mentoring, training, and learning can be encouraged. Similarly, the traditional workers' desks are replaced with multipurpose furniture that is helpful in promoting collaboration. For those workers who require privacy, such a desk offers demountable partitions and areaspecific zones for head-down work. Employees could also share desks with their neighborhood, thus instilling a sense of community and collaboration.
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Restorative workplace”, a phenomenon where the workers leave the workspace feeling better than when they arrived, is an objective that has been taken seriously by co-living workspaces. To attain the objective, it prioritized personal autonomy and flexibility. Measures such as activating public spaces for inspiring creativity and offering access to nature have been taken in organizations to offer a sense of wellbeing.
Whereas, health being a primary concern during the initial stages of COVID-19, is now part of co-living workspace. Elements such as buttons and handles are being replaced with touchless technology. Swipe cards are replaced with face recognition systems. These tools have been proven successful in accommodating the health-related needs of every individual within the co-living workspace.
Reducing operational costs has been made possible by the keen incorporation of technological elements. It is interesting that the modern co-living workspaces have replaced their old technology with the latest technological tools that help improve communication and collaboration among the workers. Traditional wireless technology is
switched to instruments such as blockchain, AI, and quantum computing, which together establish an ecosystem that meets data management and energy savings.
Similarly, experts on the BBC believe that video conferencing will remain an intense part of employees' lives. This has been demonstrated by several businesses, such as Microsoft, where it has installed curved tables within its conference rooms that make remote workers feel like everyone is remote and in-person participants feel like everyone is present.
Google on the other hand, has advanced co-living workspaces by incorporating several high-tech gadgets, including privacy robots and other tools, which are still running in a trial phase to test their productivity and flexibility in meeting the needs of employees.
The true nature of co-living workspaces comes down to building communities and promoting collaboration intentionally. While there are several ways co-living workspaces are promoting these elements, the ultimate objective is to take hold of the personal and professional interests of respective employees.
Although such a strategy could be a risky alternative as it may eliminate a group of potential employees from the group, it can also bring employees together with shared interests and collaboration.
While human relationships are naturally formed, it is the structure of co-living workspaces that could facilitate the same to a desired extent.
In the generation of social influencers and enthusiasts, we have foreseen numerous lifetime-achieving personalities that have enacted upon their impulsive standpoint. While stepping ahead, the journey to the peak seems unnoticeable if the passion stands still.
In the process, travelers and people who intend to achieve the top-most heights of their lifestyle tend to expect miniature of their moment to be pleasant and joyous.
“Find a purpose of serving, not a lifestyle to live,” exclaims Criss Jami.
To resolve this quote, we have one of the most stunning comapnies, Selina that responsibly took the initiative to guide the unguided travelers and remote workers, while Pilgrims to their passion and anticipate experiencing the unobtrusive journey to the diversified world.
Spearheading this transformation is Rafael Museri, Cofounder and CEO of the company.
Rafael Museri is renowned for promoting a socio-cultural altered work-life balance in lifestyle, escorting integrated accommodation to the next level, and inspiring the generation worldwide.
Let’s learn how Rafael impacts the masses worldwide and implicates the new cultural masterpiece.
Below are the interview highlights:
Please brief our audience about your company, its USPs, and how it is currently positioned as the leader in the real estate and hospitality industry.
Selina is a nomadic lifestyle brand offering new physical and digital platforms to accommodate the needs of a new generation of travelers and remote workers. Blending beautifully-designed accommodation with coworking spaces, recreation, wellness, and local experiences, Selina is developing a dynamic platform and creating a holistic stay to inspire meaningful connections with people, places, and communities worldwide.
Combining the comfort and style of a boutique hotel with the social aspects of a hostel and the experiences of a retreat or festival. Selina curates its properties, experiences, and events for a new generation of more authentic, globally responsible, economically conscious, flexible, and sociallyminded travelers to live, work, play and learn.
From urban cities to the beach, mountain, and jungle destinations, Selina operates over 100 properties globally with locations throughout Latin America, the USA, Europe, Israel, Africa, and Australia, with a footprint in 25 countries and growing.
Selina’s model starts with identifying our proprietary technology distress and an underutilized asset to then
acquiring long-term leases in interesting and unique locations, which are then renovated in collaboration with local artists, designers, and craftsmen and filled with newly hired and trained team members in a transition that takes just 90-120 days. It's an asset-light development method that is a game-changer for local communities, new employees, and travelers.
Shed some light on your services and offerings and how they impact the coliving space sector.
Since its founding in 2014, Selina has always understood the importance of coworking and coworking spaces as it is a key part of the Selina's product offering. The company's vision is to offer a platform and product for nomads, remote employees, and travel enthusiasts to explore the world -without needing to put career ambitions on hold. Through the innovation of a monthly live and co-work package, Selina created an infrastructure that supports a growing number of digital nomads and remote workers -- no matter their industry -- promoting a cultural shift in work-life balance.
Selina launched its new subscription mode in August 2020 with the goal to shift more than 50% of its global rooms to the new subscription program. These products allow travelers to move freely amongst Selina properties for one set monthly or yearly fee, including accommodations, coworking spaces, daily wellness activities, weekly laundry, and discounts on food and beverage, surf, and retail.
What are the core values upon which your organization is built?
Selina’s mission is about creating authentic and meaningful connections - for our guests, connectors (employees), and communities where we are.
By design, Selina looks to promote a cultural movement of nomadic travel through connection. Locations are purposely built to bring together like-minded travelers of all budgets and backgrounds - while the individualized community approach of each property fosters an authentic localized link to each location.
Please brief us about the Featured Person’s journey in the real estate space and how they have contributed to the organization’s success.
In 2007, Rafael Museri and Daniel Rudasevski were living in Pedasí, a small fishing town in Panama. They ran real
estate projects and started developing the town when a bigger vision began to emerge - a unique hospitality offering that could change the world.
To test the idea, Rafael and Daniel traveled extensively over the course of the following year, staying in more than 120 hotels, hostels, and houses, looking for a consistent offering that allowed them to meet new people, experience new cultures, and seamlessly live and work anywhere.
Inspired by their experience, they set out to create a hospitality concept that catered to a new generation of travelers - somewhere they could feel a sense of community and be comfortable, have a space to work, experience unforgettable moments, and create meaningful connections with other guests and locals.
Opening the first Selina in Venao, a surfing town just outside of Pedasi, in 2015, the model was proven successful, and expansion throughout Latin America began.
With modern technologies disrupting almost every existing sector, how do you think they have impacted the coliving space, and how is your organization aligning its offerings and services with the same?
In Selina’s case, our proprietary technology allows us to source deals through our own technology we have developed and call our "distressed asset finder." This is a true differentiator, which enables us to find underperforming hotels in any area quickly and has been key to our efficient scaling. Notably, 80% of our transactions are sourced off-market, which typically results in an over 20% discount to market lease prices. So this gives us the upper hand against our competitors by proactively finding better deals.
In regards to the service, even though there are lifestyle brands out there, there are few ones that can call themselves global. Today Selina is in 25 countries worldwide, meaning we can offer a range of services to satisfy the needs of a growing travel segment looking for a place to connect and have an incredible experience.
What would be your advice to budding entrepreneurs who aspire to venture into the coliving space?
Do not be afraid to fail, and follow your gut. Being an entrepreneur means that sometimes the path you are on will be uncertain, bumpy, and at times you will fall, but use
those moments as a guide to help you understand what works or does not work for your business.
How do you envision scaling your organization's operations and offerings in 2022 and beyond?
Selina is well positioned to continue to benefit from pent-up travel demand, the increase in remote working, and the prioritization of health, wellness, and experiences among our target customers, which we anticipate will accelerate in the coming years. We continue expanding Selina's portfolio, having collectively signed or opened 19 properties worldwide in the first two quarters of 2022. We have high conviction in the strength of Selina's rapidly expanding and differentiated platform to meet the sizable and growing market need. We are firm in Selina's commitment to redefining the hospitality experience for the next generation of travelers.
Selina continues to demonstrate the power of its proprietary technology to identify underperforming hotels around the world, the strength of its partnerships with local real estate owners to finance conversion costs, and the efficiency of its renovation and management processes to transform assets into unique cultural destinations.
Do not be afraid to fail; always follow your gut.
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