It has to be a mix. Fully open isn’t great because you can’t make your space your own. You have to consider the entire rest of the floor or building. Give everyone private rooms and everyone works in isolation. This might look productive but I would argue it’s not: everyone has a physical barrier around themselves, they don’t even need to set boundaries any more.

But if you can give your teams a group space to themselves, they get the benefit of an open collaborative space between them without polluting the dynamics of other teams.

Rather than one open space, create that hotdesking area, then your large team rooms, and then scatter your generic meeting rooms and video call booths around so you can still opt for privacy.

This takes more effort but it is worth it. Your teams will generate subcultures of their own to make it easier (and more enjoyable) to work together. Give them that space.