Originally Posted by
synzero
The fair market value is whatever the benefit could be sold for on the open market. And as I mentioned before, Regus sells precisely the same benefit (i.e., restricted 9-6pm access) on the open market for around $230/month. Similarly, in the Bay Area, WeWork sells a membership like this for $300/month = $3600/year (but it only covers the Bay Area). A single hot desk at a single location costs $420 - $550/month depending on location ($5000 - $6600/year) -- admittedly it provides 24/7 access, but it is also twice the cost, and limited to one facility.
Based on market numbers alone I don't see how you can so confidently claim $2700/month is "deceiving". Again, just because YOU wouldn't pay that much for it doesn't mean WeWork couldn't get that price for it. It's right in line with the prices being charged out there --- in fact $2700 is even lower than most of the prices you can find for similar services.
Are most business platinum cardholders purchasers of these memberships mentioned in your post? Probably not. So I'm not looking at the fair market price of equivalent memberships. I'm looking at what most cardholders would pay for such a membership, which is much less than the retail cost.