The New Age of Hospitality

Deepak Anand, Co-Founder and CEO, Housr, a hospitality-led co-living start-up, on how co-living is merging community, convenience, and connection for professionals.

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The real estate industry is witnessing a tremendous shift in living arrangements. As corporate professionals and digital nomads set new standards for how they live and work, the rising demand for co-living spaces cannot be overlooked. This new-age concept offering fully managed accommodations has undoubtedly impacted the preferences of corporate professionals when they plan a move across cities for work. Co-living spaces have positioned themselves as a viable solution to the evolving needs of today's generation, surpassing the traditional housing models. It's phenomenal how co-living has evolved from a niche housing option to a mainstream lifestyle choice with community, convenience, and connection, sailing in the same boat.

As the co-living sector reaches new heights, it significantly showcases the hospitality industry's clear emphasis on world-class services and curated experiences for a well-rounded living experience. Going beyond the standards set by boutique hotels or extended stay accommodations, co-living spaces offer a hands-off experience with premium amenities such as housekeeping, concierge services, and community events, eventually redefining urban hospitality for the modern professional. Primarily observed in cities such as Bangalore, Delhi, Mumbai, Pune, Hyderabad, and Chennai, the co-living market, as quoted in a report by Cushman and Wakefield India, is foreseen to grow at a compound annual growth rate of 17% from 2020 to 2025, touching a value of USD 40 billion by 2025. The future belongs to spaces that provide effortless comfort while nurturing a sense of belonging. Looks like those who are willing to embrace this fundamental shift will cater to the modern workforce and will define the next era of urban hospitality.