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IWG looks to franchising future

The global operator of co-work and workspace brands is looking to follow in the footsteps of InterContinental Hotels and shift to a franchising model
IWG looks to franchising future

IWG (IWG) aims to complete its shift towards a more asset-light franchising model akin to InterContinental Hotels (IHG) over the next two to three years. The sale of Japanese operations to TKP under a master franchise agreement announced in April sparked much investor excitement, but the rest of the first half of 2019 failed to produce further developments of a comparable scale. Six new franchise partners and commitments for over 180 locations were secured during the period, and, citing “strong interest from third parties”, the shared office group is promising an update in the second half.

IC TIP: Hold at 359p

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