Vast Coworking Group™ (Vast), recognized as the world's largest privately-owned franchisor of coworking spaces, has announced a year of unprecedented 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 not only expanded Vast's portfolio but also positioned it as the third-largest global coworking network with over 190 locations worldwide.
The company's success is attributed to its aggressive expansion strategy, which included the opening of 11 new locations across its Venture X and Office Evolution brands, adding nearly 300,000 square feet to its global footprint. Additionally, Vast signed 34 franchise agreements, paving the way for further domestic and international growth, including entry into the Portuguese market. Jason Anderson, President of Vast, highlighted the company's achievements and its readiness to capitalize on the increasing demand for flexible workspace solutions.
To support its rapid expansion, Vast has also strengthened its leadership team by promoting key executives to vice president roles across its brands. These strategic appointments are expected to drive the company's next phase of growth, as noted by Ray Titus, CEO of United Franchise Group, Vast's parent company. With a robust development pipeline and an expanded global presence, Vast is well-positioned to meet the growing demand for flexible workspaces. For more information on Vast Coworking Group's offerings and locations, visit https://www.vastcoworking.com.
