One of the first global flex workspace brands.
Now part of the International Workspace Group (IWG) plc.
One of the first global flex workspace brands.
Now part of the International Workspace Group (IWG) plc.
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IWGβs third-quarter trading update for 2024 reveals notable growth in revenue and expansion across its global network, with a 52% increase in net center openings and a 46% rise in managed and franchised fee revenue. The Company-Owned & Leased segment also saw profitability gains, with margins up by 330 basis points. CEO Mark Dixon highlighted the companyβs focus on strategic growth and debt reduction, supported by new credit facilities and bond issuance. IWGβs positive outlook includes plans for a continued expansion of its capital-light model and a transition to US GAAP accounting standards in 2025.
Overall, the most recent update from IWG paints a rosy picture for the firm, however they acknowledge continued delays in their Worka app, which has been positioned to be their on-demand offering. As the aggregator marketplace continues to become more crowded, is IWG really behind on development or are they waiting for an impending consolidation before making a play?
π¬ Discuss this Β· π Direct Link Β· β±οΈ 91 days ago Β· π© Week 46, 2024 Β· π Data
Mark Dixon from IWG shares about their continued rapid growth, their "network coverage strategy" and how the whole narrative about "going back to the office" is wrong, as people are going increasingly to offices that are more convenient to them and reducing as much of the commute as possible.
π¬ Discuss this Β· π Direct Link Β· β±οΈ 324 days ago Β· π© Week 13, 2024 Β· π Discussions
Mark Dixon chats with Andrew Tuck on The Entrepreneurs podcast about IWG, why the office will never go out of style, and their strategy for suburban growth.
π¬ Discuss this Β· π Direct Link Β· β±οΈ 672 days ago Β· π© Week 15, 2023 Β· π Discussions
Tesco (the UK’s largest grocer) have announced a partnership with IWG to convert excess space in a supermarket into a 3,8k sqft work hub. The pilot will run on a mezzanine floor inside a store in South London and offer 12 fixed desks, 30 hotdesks and a meeting room.
UK twitter and LinkedIn took humorous pokes at the news, but given that supermarkets often have excess space and are often located near heavily residential areas or along heavy transportation routes. So Mark Dixon‘s statement about people wanting to live and work in their local communities makes more sense of this news. I mean I’m very curious about how it’ll look/feel, but I do think we’ll see more underutilized space shift towards providing affordable workspaces for stickier footfall.
π¬ Discuss this Β· π Direct Link Β· β±οΈ 1001 days ago Β· π© Week 19, 2022 Β· π° News & Views
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