Westhive increases sales by one third
Coworking provider Westhive is pleased with its performance in fiscal 2021: Revenue increased by 33%, with positive Ebitda.
2021 was the most successful year in the company's history, Westhive said. Occupancy has increased significantly at all locations, he said, and the company is now achieving an occupancy rate of just under 75%. Most of the new clients from the past 12 months are "rock-solid, traditional companies" that are either giving up their fixed offices altogether or supplementing them with flexible space, says Westhive co-founder Claus Bornholt.
This year, the next big step in growth is on the horizon: Westhive has announced the opening of three new flex-space locations in 2022 - in Zurich, Zug and Basel, with another to follow in Geneva next year. This will bring total capacity to well over 2,000 jobs. Some 90% of those are in private team offices rather than the open-space environments typically associated with coworking. "We're seeing demand focused primarily on private offices," Bornholt explains, "especially if it means replacing existing offices." With an occupancy rate of more than 80%, the private offices made a significant contribution to the good annual results, he says.
According to Bornholt, meeting room rentals and the events and conferences business remained under pressure last year. The high infection rates in the fall had led to a wave of cancellations before Christmas, so that the event business remained below expectations in 2021 as well. (bw)
