[Timoha]

Here in Mexico WeWork is extremely popular. Both in Mexico City and Monterrey all locations are most of the days packed with both corporate subscriptions and desk clients like myself. They own/rent entire skyscrapers with floors subrented by local companies

[raztogt21]

At least for the Monterrey locations, the economics do not make sense to me.

I'm a member of one of the newest locations which, when packed "full," still tops out at 200 people, and in 3 months, I have never seen more than 100 people in a single day.

I expect about 400k MXN per month in revenue; let's double it to be safe, to 800k per month. Yet, most of the people are on the all-access plan, so that's 2k per customer per month only.

The rent for these two new floors is at least 1 million MXN per month. I also see 4 janitors, 4 front-desk staff, and 2 guards to operate the elevators, all full-time. This is not counting utilities and extra services such as coffee, mouthwash, etc.

[TulliusCicero]

Is there a reason it's particularly popular in Mexico?

[saddist0]

I would guess that's due to digital nomad culture, and living in low COL areas.

[Timoha]

It’s not digital nomads that pack up WeWorks, it’s actual Mexican office workers. Foreigners actually are pretty rare to the point that in some locations security doesn’t even know that you can access with your own membership and ask you “Which company are you with?”

I suspect it’s popular because there isn’t really anything better out. WeWork figured out operations and culture of running a productive office space and it’s probably worth it for business to just rent this infra. If WeWork shuts down, someone will definitely come in and acquire all these