IWG (IWG): Managed & Franchised network build-out
This situation live
IWG IWG
4 Nov 2025 · Signings and openings up c.40%+ year-over-year · −5% until the next step
Incremental investment outlined during H1 2025 has resulted in further capital-light expansion in network and coverage, with c.40%+ increase in both signings and openings year-over-year
3 Mar 2026 · Record 2025 signings and openings; pipeline 227k rooms · −8% until the next step
Record 731 openings in 2025 with almost 3 new centres opened every working day
12 May 2026 · Q1 signings 382, openings 222, pipeline 231k rooms · −2% until the next step
Despite increased macroeconomic uncertainty, signings accelerated in Q1 to 377, growth of 75% year-on-year, as the model increasingly becomes the go-to for landlords and partners.
11 Aug 2026 · H1 signings 728, openings 425, pipeline 257k rooms · +2% since
H1 2026 signings 728 (H1 2025: 496)
Managed & Franchised network build-out
H1 signings 728, openings 425, pipeline 257k rooms
NOV3
Next: Q3 2026 trading update on signings and openings in 10 days
Every step · 4
- 4 Nov 2025 Signings and openings up c.40%+ year-over-year – Incremental investment outlined during H1 2025 has resulted in further capital-light expansion in network and coverage, with c.40%+ increase in both... ↗
- 3 Mar 2026 Record 2025 signings and openings; pipeline 227k rooms – Record 731 openings in 2025 with almost 3 new centres opened every working day ↗
- 12 May 2026 Q1 signings 382, openings 222, pipeline 231k rooms – Despite increased macroeconomic uncertainty, signings accelerated in Q1 to 377, growth of 75% year-on-year, as the model increasingly becomes the go-to for... ↗
- 11 Aug 2026 H1 signings 728, openings 425, pipeline 257k rooms – H1 2026 signings 728 (H1 2025: 496) ↗
What is happening
IWG: Managed & Franchised network build-out – H1 signings 728, openings 425, pipeline 257k rooms. ['H1 signings 728, openings 425, pipeline 257k rooms']
- In short
- The capital-light Managed & Franchised build-out continues. H1 signings were 728 (496 a year earlier) and openings 425 (338). The segment is 22% of system revenue and 32% of open rooms. Managed RevPAR fell 9% as new centres ramp, and the pipeline now excludes rooms unopened after two years.
- Announced
- 4 Nov 2025 · Signings and openings up c.40%+ year-over-year
- Latest
- 11 Aug 2026 · H1 signings 728, openings 425, pipeline 257k rooms
- Signings
- 728 in H1 2026 (H1 2025: 496)
- Openings
- 425 in H1 2026 (H1 2025: 338)
- Pipeline
- 257,000 rooms signed but not open, after removing rooms unopened after 2 years
- Open rooms
- 358,000 rooms open, 32% of all open rooms (H1 2025: 25%)
- Mature potential
- Open and pipeline rooms expected to produce system-wide revenue of over $2bn per year once mature
- Recurring fees
- $35m, +84%; 2026 guidance is $80m
What comes next
Q3 2026 trading update on signings and openings (3 Nov 2026).
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