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- Global flexible workspace provider International Workplace Group, with brands including Regus, Spaces, HQ and Signature expands U.S. footprint amid increased demand for hybrid working
- Milestone comes on the heels of International Workplace Group adding a record 867 centers to its global portfolio in 2023 and 465 in the first half 2024
- Continued momentum fueled by rising demand for flexible workspaces and increasing adoption of the hub-and-spoke office model
- International Workplace Group operates more than 1,500 centers in the U.S. including all 50 states, and more than 4,000 globally
International Workplace Group, the world’s leading provider of hybrid work solutions, today announced it has added 200 new locations to its U.S. network in the first half of 2024. Nearly all (99%) of these new locations are being delivered via managed partnership agreements, delivering on the company’s capital light strategy.
This milestone represents a continuation of the company’s impressive growth with International Workplace Group adding a record 867 centers to its global portfolio in 2023 and 465 locations in the first half of 2024. The company also reported its highest-ever revenue in its 35-year history.
This continued growth is driven by property owners and partners aiming to capitalize on the rapidly growing demand for hybrid working. Property owners are choosing to partner with International Workplace Group’s industry leading hybrid working platform, including Regus, Spaces, HQ and Signature, enabling partners to monetize vacant space, whether it’s a two-story 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 center.
As the global leader in hybrid working, International Workplace Group now has more than 4,000 locations in over 120 countries, including all 50 U.S. states. Still, there continues to be exponential opportunity for continued growth, with an estimated 1.2 billion white collar workers globally and a total addressable market of more than $2 trillion.
Stanford professor and hybrid work expert, Prof. Nicholas Bloom predicts that 50% of all jobs will be hybrid. Additionally, International Workplace Group research has found a growing desire to work closer to home, with 60% of employees saying they would like to have a workspace within 15-minutes of their home*; in parallel, the majority (86%) of HR leaders cite hybrid work as one of the most in-demand employee wellness benefits, with more than half (51%) also reporting they have seen improvements in employee retention as a result of hybrid work arrangements.**
Mark Dixon, International Workplace Group Founder and CEO comments: “Our continued growth in the U.S. is a testament to the demand for and staying power of the hybrid working model. Through our expanded footprint, we’re bringing new workplace solutions to a diverse range of communities, ultimately helping even more employers to grow and scale their businesses while meeting the unique needs of their workforce.”
“As we look ahead to the second half of the year, we remain committed to our strategy of growing our network coverage and are uniquely positioned to meet the evolving needs of our customers and partners.”
The majority of International Workplace Group’s new locations are in the suburbs, smaller commuter towns and cities. These even include towns with populations as small as 5,000 – 10,000, which are all seeing the strong demand for hybrid working solutions. The group is expanding its network locations deep into the heart of the communities where they are needed, close to where employees live and want to be.
Thomas Sinclair, International Workplace Group Chief Development Officer comments: “In the U.S. and beyond, our expanded footprint is meeting the needs of today’s businesses and workforce, while creating significant opportunity for property owners and investors. As we celebrate this milestone, we also continue to look ahead and remain focused on strategic growth.”
Becoming an International Workplace Group partner provides access to a wealth of expertise in flexible workspace solutions. With an annual investment of around $64M into its technology platform, International Workplace Group provides partners with access to all the company’s expertise as well as design and fit-out support and sales and marketing capabilities. Partner locations can go from concept to fully operational in as little as 10 weeks, while the partnership model provides strong recurring monthly income without the headaches of lengthy renewals or void periods or overreliance on single leases.
