Vast Coworking Group™ (Vast), recognized as the world's largest privately-owned franchisor of coworking spaces, has announced a year of exceptional growth in 2023. The company reported a 21% increase in systemwide sales and a 16.5% rise in systemwide membership, marking a significant milestone in its expansion efforts. This growth was further accelerated by the strategic acquisition of Intelligent Office®, a move that has positioned Vast as the third-largest global coworking network with over 190 locations across eight countries.
Jason Anderson, President of Vast, highlighted the company's achievements and future prospects, emphasizing the growing demand for flexible workspace solutions. The company's expansion included the opening of 11 new locations and the signing of 34 franchise agreements, extending its presence into Portugal and other international markets. These developments underscore Vast's commitment to meeting the evolving needs of businesses and professionals worldwide.
To support its rapid growth, Vast has also strengthened its leadership team, promoting several key executives to vice president roles. This strategic restructuring is aimed at enhancing operational efficiency and driving further expansion. Ray Titus, CEO of United Franchise Group, Vast's parent company, emphasized the importance of leadership in achieving the company's ambitious goals.
With a robust development pipeline and an expanded global footprint, Vast Coworking Group is well-positioned to lead the coworking industry. The company's success reflects the increasing demand for flexible workspace solutions, a trend that is expected to continue in the coming years. For more information on Vast Coworking Group's services and locations, visit https://www.vastcoworking.com.
