Rentable Meeting Space: An Alternative to Dedicated Conference Rooms

by / Friday, 26 April 2013 / Published in CRE Trends, iCORE, Industry Spotlight

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As companies look at how to maximize the value that they get out of each sq. ft. of real estate, conference rooms are an area that’s on the chopping block.   Traditionally expected components of office space, conference rooms are no longer an absolute necessity.

Of course companies that hold daily or even weekly meetings will absolutely continue to have a dedicated conference space.   It is the companies that hold less frequent meetings or have conference rooms for smaller groups but want to hold an annual division or company-wide meeting, that don’t necessarily need to carry those costs on a regular basis.

Historically the go to space for large meetings has been hotel ballrooms.  While often spacious, ballrooms are not designed specifically for corporate events and typically require concessions to be made for layout, sound and video quality or furniture.   Additionally, they can come with steep price tags and restrictive contracts.

Companies that require high-tech, comfortable conference rooms for large events have a new option on the table; rentable corporate event space.   There are a number of companies that are starting to pick up extra space that companies have shed, add high-end touches such as wide video screens and colorful furniture, and then rent it out for corporate events.  Convene, a four-year old firm, is a prime example of this trend.

While ballrooms continue to hold the top spot for corporate events, having additional options on the market will certainly drive value for clients and make it even easier for clients to maximize their real estate.

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