Wikipedia defines it as:
“An executive suite can also be a set of individual offices sublet from a larger suite of offices. The executive suite proprietor rents entire floors (or buildings) and leases the smaller office spaces or workstations to businesses that don’t need, or can’t afford, large space. Some executive suite landlords offer additional services. This variation on the traditional office idea has become an industry with roots in the early 1990s. There is no universal agreement on terminology as executive suites go by many different names, such as: open plan office, serviced office, office business center, office suite, business center [disambiguation needed], executive office, furnished office, flexible office, managed office, shared-office space and office hoteling. Office suite, as software, stands as testament to the confusion in the terminology. It is not uncommon for a traditional tenant to sublet unutilized space and to characterize it as an “executive suite.”
Many businesses considering executive suites are small entrepreneur start-up companies that could experience growth before a term’s end-date. Considering this, flexible terms are offered to accommodate unforeseen growth. The office space also have a number of amenities that smaller offices may not be able to afford such as a breakroom, video conference room equipment, and on-site fitness center and spa. They also offer temporary support such as day offices or temporary work-space for short term use, and the opportunity for tenants to temporarily “hire” executive office staff to assist with projects/assignments.