International Workplace Group, with brands including Regus and Spaces, has signed 899 new locations globally in 2024 as the demand for hybrid working continues to accelerate
International Workplace Group (IWG), the world’s largest hybrid workspace platform, has announced that it has signed 899 new centres to its network in 2024, and opened 624 new workspaces.
An overwhelming 95% of these locations are being delivered via managed partnership agreements, delivering on IWG’s capital light strategy. With unrivalled capacity to convert any building in any location into a commercially-successful operation, IWG can provide a brand to suit any type of concept and building.
The rapid growth in new locations is being driven by property owners and partners seeking to capitalise on the rapidly growing demand for hybrid working. Many of these property owners have vacant space to fill with the decline in demand for traditional office real estate and are choosing to partner with IWG’s industry leading hybrid working platform, benefitting from an extensive 18-strong brand portfolio. This includes signature names Regus, Spaces, HQ and Signature, as well as new launches including a partnership with Yoo, the largest residential design brand in the world.
IWG is working with landlords and developers to transform conventional spaces into dynamic and thriving work environments for workers, while generating substantial and sustainable revenue streams for its partners. The vast majority of IWG’s new locations are in the suburbs, smaller commuter towns and cities.
With thousands of locations spanning across more than 120 countries in every time zone, and leveraging its three decades of experience, IWG provides an array of workspace solutions for every type of property. Whether it’s a two-storey building in an out-of-town business park, an office block in a prestigious downtown locale, or a former retail unit in a bustling shopping centre, IWG tailors its offerings to meet the diverse demands of its customers and enables partners to monetise vacant space.
As the global leader in hybrid working, IWG now has over 4,000 locations in more than 120 countries, but the potential for further growth is exponential with an estimated 1.2 billion white collar workers globally and a total addressable market of more than $2 trillion (£1.57 trillion).
The flexible workspace sector is projected to grow by 600% by 2030, to which Mark Dixon, IWG Founder and CEO comments: “2024 was a landmark year, reaching record revenue and experiencing our strongest network expansion to date, with 899 new centre signings and 624 openings”.
“We will continue to make ongoing investments into our world class platform as well as focusing on the rapid growth of network coverage in partnership with the property industry and investors using capital-light expansion methods, including management agreements, partnering deals and franchising.”
