WeWork and IWG will vie for an “asset light” future to recover after the pandemic. And with that, branding becomes even more important in the world of work.
Future of Work
As organizations start to embrace distributed work and virtual meetings, the corporate travel and meetings sectors are preparing for change. Read Skift’s ongoing coverage of this shift in business travel behavior through the lens of both brands and consumers.
Join Us at Skift Global Forum in NYC September 21-23Rather than directly lease buildings, IWG can lend its brand cachet, with names like Regus and Spaces and their respective technology platforms, to other real estate companies or buildings. It represents a quicker route to new countries, leaning on local expertise. [caption id="attachment_439915" align="alignright" width="300"] WeWork Menachem Begin Tel Aviv. Picture: WeWork[/caption] It added 17 new franchise agreements across 10 countries for the six months ended June 30, with an additional 64 committed locations, according to its interim first-half results. It also added its first franchise agreements in the U.S., and entered into a joint venture with Hysan to operate across Hong Kong and the Greater Bay Area (Hong Kong, Macau and Guangdong). “We continue to make progress with our franchising and partnering agreements which are central to our capital-light expansion strategy,” said