We’re releasing today the seventh edition of FlexIndex!
Over the past month, we had several interesting changes in the KPIs. So let’s take a look at the data for May 2022.
In May 2022, the FlexIndex recovered back to 4.8 fp (flex points), after the Easter holidays seasonality effect. ‘Static Desk Occupancy’ and ‘Revenue per Available Workspace (RevPAD)’ are steadily above.
In June 2022, we could see the FlexIndex reaching 5 fp (flex points) – the 3 booking-related KPIs will continue recovering. “Average Booking Duration per Paid Meeting Space” could surpass the 2019 benchmark (as it does in March 2022) but the other two KPIs most likely will be under baseline. However, desks-related KPIs will compensate for them.
Both ‘Static Desk Occupancy’ and ‘Revenue per Available Workspace (RevPAD)’ are getting really close to the highest pre-pandemic levels.
Let’s break down the 5 FlexIndex components for May 2022.
1. Static Desk Occupancy, the first KPI recovered after the Global Pandemic, closed the month +4.1% over the baseline.
2. Revenue per Available Workspace (RevPAD) kept its positive recovery trend and, as of April 2022, is 3.7% above the 2019 benchmark.
And just for a comparison, here are they put together:
3. The Bookings per Meeting Space KPI dropped compared to March (due to the Easter holidays) and closed April 2022 with a ~16.2% gap to the 2019 benchmark.
4. The second booking KPI — Average Booking Duration per Paid Meeting Space — followed the same pattern as the previous one and is under the 2019 benchmark by ~4.6%.
5. For the final booking KPI — Booking Revenue per Paid Meeting Space — the end of May 2022 saw a ~6.5% finish below the 2019 benchmark.
For comparison, here’s a chart of all 3 Booking KPIs:
And a chart of all 5 FlexIndex components:
We’ll continue monitoring the recovery of the market next month as well.
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