The recent report by CoworkingMag (part of Yardi) highlights key developments and trends among the top 15 coworking brands in the U.S. this year.

The top 15 US brands (by number of locations) are: Regus (972), HQ (204), WeWork, (173) Industrious (145), Spaces (117), Premier Workspaces (86), Office Evolution (79), Workstyle Flexible Spaces (65), Venture X (46), Intelligent Office (43), Expansive (42), LocalWorks (36), COhatch (34), Serendipity Labs (28) and Lucid Private Offices (27).

What’s changed since the last report? Regus (part of IWG) saw a 17% growth since December 2022, keeping first position. HQ climbed to second place with a meteoric 240% growth from May 2022. WeWork dropped 1 place after closing 73 US locations. Lucid Private Offices joined the top 15 with the second largest growth rate of 23%.

Overall, the U.S. coworking market added 1,166 new locations from December 2022 to the beginning of May 2024 – a 20% increase in the span of more than one year. Meanwhile, the top 15 coworking operators grew their inventory by 14% in total – a sum of 252 new locations.

Coworking Europe shared (a blurry photo of) some stats on the largest operators in Spain.

To summarize, and save you some early-morning squinting, the table is sorted by total space occupied (sqm) but also lists the number of locations per operator. The 14 operators listed run 201 spaces covering over 505k sqm (5.4M sqft) of space.

IWG led the pack in both no. of spaces and sqm (74, and 155k respectively). LOOM and Cloudworks both have 15 locations, followed by Impact Hub with 14 and Aticco with 13. By space, WeWork came in second with 58.5k sqm.

IWG just reported in preliminary results for last year that revenue had grown 10% to £3.3B (approx $4.2B). Of that their gross profit increased by 41% to £528M, with margins up from 15.9% in 2022 to 20.4% in 2023.

For those holding shares via the London Stock Exchange, it’s interesting that they have announced that they will both pay a dividend (of 1p per share) and are considering a New York listing.

For everyone else, it can be helpful to see what kind of scale and revenue a multi-brand operator with 3,514 locations across 120 countries is getting – especially when the media and certain companies like to paint coworking and flex workspaces as "unsuccessful" or unprofitable.

… to be where people actually want to be. This piece by Fast Company, looks at how suburban coworking is growing, benefiting both workers and their neighborhoods.

The piece explores stories like Laetitia Gorra’s "micro-coworking space" called the Studio in New York’s Westchester County, Serendipity Labs‘ seeing of growing demand in suburban markets, TailoredSpace’s plans to double their suburban portfolio in Southern California, IWG‘s and Industrious‘ continuous suburban expansions, and the UK’s Patch launching spaces on main streets in suburban centers and small towns.

This local piece looks at three data sets re: coworking growth in Dubai and Abu Dhabi.

Firstly, there’s a huge variety of options with affordable spaces and lux options ($40.8k+ p/year to use). Second, a free zone dedicated to digital commerce in Dubai partnered with IWG to launch a Spaces location there. And thirdly, local desk-booking platform Letswork boasts over 55,000 users across the region and Saudi Arabia, Bahrain, Spain and Portugal.