IWG, an office-space provider, is experiencing an “unprecedented demand” for flexible office space as many companies adopt hybrid-work plans with some days in the office and some days of remote work.
“We have continued to see unprecedented demand for our flexible work products as many more enterprises adopt hybrid working,” CEO Mark Dixon said on a call with analysts on June 7. He added that the company has “a very strong pipeline of potential partners wanting to work with us to grow the platform.”
Still, the CEO warned that interest in coworking spaces has been slower than expected because of continued Covid-19 restrictions in some countries, which will reduce the company’s earnings this year to a level “well below” what is recorded in 2020.
In markets where Covid-19 restrictions are easing such as the U.S., he noted “positive momentum.” Dixon predicted a “strong recovery” in 2022.