FlexIndex April 2026 Update: Flex Space Occupancy and RevPAD Keep Growing

In April 2022, we published this monthly FlexIndex update covering flex space performance for that month. The snapshot below is preserved as originally reported. For the current state of the market, skip to the section on the latest FlexIndex further down.

The FlexIndex is OfficeRnD’s benchmark of coworking and flex space performance, built from anonymized data across thousands of locations worldwide.

FlexIndex overview (April 2022)

In April 2022, the FlexIndex regressed to 4.4 fp (flex points).

On the surface, this looked like a large drop compared to the 4.8 fp in March 2022. The decline was expected, given the seasonality of the three booking-related KPIs. In the previous FlexIndex report we noted that the Easter holidays have a strong effect on bookings, so booking-related KPIs were likely to soften around the Easter period.

The good news: Static Desk Occupancy’s positive trend continued, staying above the 2019 benchmark for 6 months in a row. In April, the second desk-related KPI, Revenue per Available Workspace (RevPAD), broke through the 2019 benchmark as well.

The 5 FlexIndex components (KPIs)

Here’s a breakdown of the 5 FlexIndex components in April 2022:

1. Static Desk Occupancy, the first KPI to fully recover after the pandemic, closed the month +3.5% over the baseline.

2. Revenue per Available Workspace (RevPAD) kept its positive recovery trend and, as of April 2022, sat 1.5% above the 2019 benchmark.

Note: The data comes exclusively from active OfficeRnD clients at the moment of the index calculation. This can lead to minor discrepancies between monthly FlexIndex updates, but the data trends and conclusions hold.

3. The Bookings per Meeting Space KPI dropped compared to March (Easter holidays) and closed April 2022 with a ~26% gap to the 2019 benchmark.

4. The second booking KPI, Average Booking Duration per Paid Meeting Space, followed the same pattern and sat under the 2019 benchmark by ~14.7%.

5. The final booking KPI, Booking Revenue per Paid Meeting Space, ended April 2022 ~20% below the 2019 benchmark.

For comparison, here’s a chart of all 3 booking KPIs:

And a chart of all 5 FlexIndex components:

In April 2022, the 2 desk-related KPIs had been trending in the right direction for months and both cleared the 2019 benchmark, a strong signal for the sector’s recovery. The booking KPIs regressed, but that decline was expected: the same pattern showed up in earlier years around the Easter holidays.

Where the flex market stands now

The industry has changed a lot since that April 2022 snapshot. The FlexIndex itself has grown. It now runs on a quarterly schedule and tracks six KPIs: Desk Occupancy, Revenue Occupancy, Private Office Occupancy, Revenue per Occupied Desk (RevPOD), Revenue per Available Desk (RevPAD), and Price per Hour of Booking.

The dataset has expanded too. The most recent report, for Q4 2025, draws on anonymized data from more than 3,500 coworking and flex space locations worldwide.

The headline story has shifted from recovery to revenue efficiency. Occupancy has plateaued in the low-to-mid 70s globally, while revenue per desk keeps climbing. In Q2 2025, global RevPAD reached $363.14 even as desk occupancy stayed flat at 72.5%. By Q4 2025, RevPAD hit its highest point of the year, and the quarter’s most notable move was hourly booking pricing, which jumped from $40.71 in Q3 to $44.38 in Q4.

The takeaway for operators: full doesn’t automatically mean profitable. The gains in 2025 came from tighter pricing and cleaner monetization, not from filling more seats.

FAQ

What is the OfficeRnD FlexIndex?

The FlexIndex is OfficeRnD’s benchmark of coworking and flex space performance. It aggregates anonymized data from more than 3,500 locations worldwide and reports on the KPIs that shape how flex businesses run: occupancy, pricing, and revenue efficiency.

What is RevPAD in coworking?

RevPAD, or Revenue per Available Desk, measures the revenue efficiency of your total desk inventory, occupied or not. It combines utilization and pricing into one number, which is why operators use it to see whether a busy space is actually earning what it should.

How often is the FlexIndex published?

Quarterly. The 2022 updates ran monthly against a 2019 benchmark; the current reports run every quarter and compare KPIs across regions and quarters.

Where can I see the latest FlexIndex data?

The most recent edition is the FlexIndex Q4 2025 report, with global and regional breakdowns for the Americas, EMEA & UKI, and APAC.

You can also sign up here to receive FlexIndex updates by email and follow us on LinkedIn to keep up with our latest findings.