The Group delivered continued year-on-year revenue growth in the first quarter, supported by rapid network expansion, increasing enterprise customer enquiries and strong growth in its Managed & Franchised business.

Key highlights from the half year’s results:

Group performance – revenue growth supported by network expansion
IWG delivered system-wide revenue of $1,166m, representing 9% year-on-year growth, while Group revenue increased by 4% year-on-year to $958m. The Company-owned business returned to revenue growth, with year-on-year revenue up 2% and RevPAR increasing by 6%.

Network growth – higher signings and openings year-on-year
The Group continued to expand its network and coverage rapidly in the first quarter, with both signings and openings ahead of the same period last year. IWG signed 382 new locations in Q1 2026, compared with 224 in Q1 2025, and opened 222 locations, compared with 165 in the same period last year.

Divisional performance – Managed & Franchised continues to drive scalable growth
The Managed & Franchised division continued to be a key growth driver, with fee income of $39m, up 70% year-on-year. Recurring managed fee income also continued to grow strongly, reflecting the increasing maturity of previously signed and opened locations.

Shareholder returns – continued progress in line with strategy
Capital returns to shareholders are progressing in line with IWG’s strategy, with $75m returned to shareholders so far in 2026.

Mark Dixon, Chief Executive of IWG plc, said:

“I am delighted with our strong start to 2026 as we continue the rapid growth of our network supported by increasing sales despite the challenging economic backdrop. Potential customers are requiring more flexibility in their Real Estate strategy to address the uncertainty arising from the impact of conflicts and the growing influence of AI. This is resulting in record levels of Enterprise customer enquiries as our coverage and network enable us to provide unique, flexible, global solutions.

Signings and openings continue to grow, allowing the flywheel of our business model to deliver greater cashflow while requiring less capital to grow than historically. This combination has enabled a return of over $230m to shareholders since our Investor Day in New York in December 2023 as we continue our journey of capital returns.”

Hungary remains an established market within IWG’s international network, with all of the company’s main brands represented locally. IWG currently operates 23 active office locations in Hungary, including 19 in Budapest and four in regional cities: two in Debrecen, one in Szeged and one in Miskolc. The local portfolio includes 19 Regus locations, two Spaces locations, one HQ and one Signature location.

Outlook
Despite the wider macroeconomic backdrop, centre signings and openings continued to accelerate globally in the first quarter, while enterprise customer enquiries increased, sales rose and pricing remained positive. Accordingly, IWG’s expectations for 2026 remain unchanged.

You can see the full Q1 report HERE.