IWG is firmly established as the world's leading provider of flexible workspaces and is continuing to grow. Its network has grown to 867 sites by 2023 through its Regus, Spaces, HQ and Signature brands. That's almost twice as much as in 2022 where the number of new sites was "limited" to 462, a development accompanied by sales at an all-time high. This compares with the woes of its competitor WeWork, which has been placed under Chapter 11 protection in the United States...
Driven by the growing demand for hybrid working, this growth is also being driven by a chaotic traditional office property market, which has left the market in a state of disarray. many vacant spaces. These are all opportunities seized by IWG through the transformation of these classic workplaces into contemporary spaces, in line with the new expectations of employees. And all this in a very short space of time, since the partner sites, whether under a management contract or a franchise, can go from concept to full operation". in just 10 weeks "says IWG. This should satisfy property owners and developers, attracted by the prospect of recurring monthly income.
" Our partnership programmes enable us to support owners and investors who want to capitalise on demand by strong growth for hybrid work" commented Mark Dixon, the group's founder and CEO. With flexible working spaces expected to grow by 600 % by 2030, IWG is set to surpass the 4,000 sites in over 120 countries mark recently passed.
France, one of the driving forces behind hybrid working
IWG's third-largest market after the United States and the United Kingdom, France has contributed to this growth with 15 new sites open by 2023for an increase of +27%
compared with the previous year. These include new Spaces in Lille, Montpellier and Sophia Antipoli, HQs in Aix-en-Provence and Douai, a Regus in the Confluence district of Lyon, as well as new sites in Brest, Carquefou, Clermont-Ferrand, Nantes, Poitiers and Rennes. All this is in addition to a number of sites in the Paris region, from Palaiseau to Montparnasse station.
The pace is set to pick up this year, with around twenty more to come, including the expected opening of one of the world's largest coworking centres on a national scale, the future Spaces integrated into the To Lyon tower. Neighbouring La Part Dieu station as well as the new Pullman hotelThe new facility will feature no less than 10,000 m² of hybrid working space.
In France, as in its other markets, IWG relies on both the operation of offices that are short of occupants and the changing expectations of employees to support its growth. In particular, these new habits are leading to setting up workplaces closer to homeThis is the case both on the outskirts of major cities and in small towns. With almost 80 % of employees expressing the wish to have a workspace less than 30 minutes from home, according to a study carried out in France in 2023 by Mortar Research for IWG, this finding invites the group to deploy its "hub and spoke" model, i.e. workplaces at the crossroads of the home-work path.
" We are fast approaching our target ofhave an IWG centre within easy reach of every townThis is a unique opportunity for property owners and investors to transform buildings into thriving flexible working spaces." commented Christophe BurckartManaging Director France of IWG.
