Vast Coworking Group Reports Strong 2024 Growth Fueled by Strategic Acquisitions and Partnerships

Double-digit sales growth and significant expansion marked 2024 for Vast Coworking Group, the world's largest privately owned franchisor of coworking spaces. Systemwide revenue grew 14% over the previous year, fueled by the performance of its two longest held coworking brands, Venture X and Office Evolution. Its third brand, Intelligent Office, sustained steady performance amid its acquisition by Vast in January 2024.

The purchase of Intelligent Office, the first concept to commercialize the virtual office space, was one of Vast's two key initiatives for 2024. Vast fulfilled the second in October 2024 with the announcement of a partnership with WeWork, the leading global flexible space provider, which paired Vast's presence in fast-growing suburban markets with WeWork's footprint in major metropolitan areas, strengthening both companies' ability to meet hybrid and distributed teams' growing demand for flexible workspaces.

Beyond Vast's impressive revenue growth, the company saw systemwide memberships surpass 60,000 worldwide. Vast now has more than 210 locations covering 2.5 million square feet globally – exceeding the number of domestic locations operated by WeWork. Year-over-year performance was also healthy for Vast's three individual brands: Venture X raised 23% more revenue, opened 13 new workspaces, signed 17 franchise agreements, and has seven new units in development to open in the near future. Office Evolution saw a revenue increase of 8%, opened 10 new locations, and added nearly 75,000 square feet across the U.S., including the expansions of eight existing locations to meet increased demand. Intelligent Office revenue held steady through a transitional year, with the company seeing a surge in franchise development since joining Vast, signing seven franchise agreements and three new locations currently in development.

Adding to this success, Entrepreneur magazine included Office Evolution and Venture X on its 2025 Franchise 500, the world's first and most comprehensive ranking of franchise businesses. Office Evolution also ranked number one in the Coworking Spaces category. The formation of networks and partnerships in the coworking industry is having the same effect that it had on the hospitality and fitness industries in previous decades, with strategic alliances and access changing the competitive landscape. Vast is positioned at the forefront of this evolution, setting the standard for coworking and defining the future of work through its interconnected ecosystem that prioritizes access and convenience across brands, services, and amenities within the flexible workspace industry.