AccorHotels and Bouygues Immobilier have created a 50/50 joint venture designed to accelerate the growth of the latter firm’s Nextdoor collaborative workspace concept in France and elsewhere in Europe.
The two Paris-based companies say the co-working market is booming. Specifically, they say within the next five years, flexible workspaces could represent between 10 to 20 percent of office space in France, compared with 2 percent currently. To capitalize on that expected growth, the partners plan to create 80 collaborative Nextdoor workspaces by 2022, which translates into a development rate of 10 to 15 launches per year starting in 2018. (By the end of this year, Nextdoor expects to operate eight sites in France.)
Bouygues Immobilier said its contributions to the partnership will include its knowledge of business property usage and relationships with key accounts and landlords, as well as its expertise in site selection, real estate negotiations and urban engineering. AccorHotels, meantime, says it will bring its expertise in customer relations, hospitality and concierge services, and its experience in site operations to the venture.
The Nextdoor venture follows another major cross-channel expansion by AccorHotels, its acquisition last year of onefinestay, a luxury home-rental firm.