Flexible office space firm Jay Suites is venturing into the conference-room leasing business.
The New York-based firm, which has 700,000 square feet of office leased in the city catering to mid-size enterprise clients, has opened a 20,000 square foot space at 515 Madison Avenue and a 22,000 square foot space at 15 West 38th Street. The spaces, named Jay Conferences, will be filled with conference rooms and equipment for hire, starting at $99 a day per person.
The need for conference room-leasing, an arm of the flexible office phenomenon, has traditionally been met by hotels. The largest player in the space, Convene, a New York-based firm that rents conference rooms, has raised $280 million, from the likes of the Durst Organization, Brookfield, RXR Realty and others. It currently has 23 locations with plans to double that figure this year, according to the firm’s CEO, Ryan Simonetti.