International Workplace Group adds 899 new locations in 2024, as property owners and investors capitalise on rapidly growing demand for flexible workspace and platform working

An overwhelming 95% of these locations are being delivered via managed partnership agreements, delivering on IWG’s capital light strategy. With unrivalled capacity to convert any building in any location into a commercially-successful operation, IWG can provide a brand to suit any type of concept and building.

Hungarian expansion with new openings

IWG has also grown significantly in Hungary. The company now has 17 centres in Budapest, 4 new deals have been signed for different locations in the capital, of which 3 will open this year and the other in 2026. IWG also opened another 5 centres outside of Budapest, including 1 in Szeged, 1 in Pécs, 2 in Debrecen, and 1 in Szentendre.

The total number of locations will reach 25 by the end of this year. In the capital, the number of locations will be 20 by the end of 2025 and IWG also plans to develop another 10 locations in Hungary, totalling 35 centres in the nearer future

Significant demand for hybrid working solutions

The rapid growth in new locations is being driven by property owners and partners seeking to capitalise on the rapidly growing demand for hybrid working. Many of these property owners have vacant space to fill with the decline in demand for traditional office real estate and are choosing to partner with IWG’s industry leading hybrid working platform, benefitting from an extensive 18-strong brand portfolio. This includes signature names Regus, Spaces, HQ and Signature, as well as new launches including a partnership with Yoo, the largest residential design brand in the world.

IWG is working with landlords and developers to transform conventional spaces into dynamic and thriving work environments for workers, while generating substantial and sustainable revenue streams for its partners. The vast majority of IWG’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 such as Destin (Florida), Willimantic (Connecticut) and Stafford (Texas) in the U.S., Castle Donington, Evesham and Kettering in the UK, 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.
With thousands of locations spanning across more than 120 countries in every time zone, and leveraging its three decades of experience, IWG provides an array of workspace solutions for every type of property. Whether it's a two-storey 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 centre, IWG tailors its offerings to meet the diverse demands of its customers and enables partners to monetise vacant space.

As the global leader in hybrid working, IWG now has over 4,000 locations in more than 120 countries, but the potential for further growth is exponential with an estimated 1.2 billion white collar workers globally and a total addressable market of more than $2 trillion (£1.57 trillion).

The flexible workspace sector is projected to grow by 600% by 2030, to which Mark Dixon, IWG Founder and CEO comments: “2024 was a landmark year, reaching record revenue and experiencing our strongest network expansion to date, with 899 new centre signings and 624 openings”.

"We will continue to make ongoing investments into our world class platform as well as focusing on the rapid growth of network coverage in partnership with the property industry and investors using capital-light expansion methods, including management agreements, partnering deals and franchising."

IWG