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Jeremy Fennema – Tech Innovation Alchemist
IWG is navigating whether to separate its digital and technology businesses from its real estate assets.
The operator revealed it is assessing whether such a move would be beneficial and would update the public during the first half of 2022.
“The potential to more broadly leverage the intellectual property of the group, together with the ownership structure of the property portfolio, is the subject of further review,” the company said in a statement.
Rumors of this consideration emerged in September, when it was reported that IWG may break up its business and potentially seek a U.S. public listing for its workspace booking app Worka.
IWG is working to rebound from the losses it experienced during the pandemic. The firm says its occupancy was at 71.2% during the third quarter, which is a slight increase from the 70.1% from one year ago.
