Whether you're looking to open a branch office in Brazil, a regional office in Russia, or a temporary office in Tunisia (virtual or otherwise), Regus Group wants to be your final answer. The company rents office and meeting space and offers related services including secretarial, telecommunications systems, videoconferencing, and concierge service, to clients who want to go global. It also supports telecommuters working from home or on the road and offers virtual offices with call handling and mail forwarding. The group rents its spaces out for anywhere between one hour to five years. Operating through divisions including Stratis and HQ Global, Regus has approximately 1,000 business centers around the world.
Regus' Businessworld membership program gives cardholders access to the group's business centers around the globe. Through Laptop Lane, the group leases airport workspace, complete with computers and faxing/copying capabilities, for traveling executives. Laptop Lane locations can be found at in Atlanta, Seattle, and Philadelphia.
The company is expanding into new markets as well as adding new services and new workspaces in its existing markets. In the US, recent openings include space at 5 Penn Plaza in New York City and Penn Center East in Pittsburgh. The group is also seeking expansion opportunities in the Asia/Pacific region, including China, Hong Kong, Malaysia, and Thailand. Altogether, the company operates in about 80 countries.
In 2012 Regus began crafting deals to help address the needs of mobile workers across Europe. The company launched partnerships with French and Dutch train operators to offer workspaces at train stations in the Netherlands and France. Regus also formed a partnership with Shell to offer workspaces and business centers at gas stations.
Regus Group in 2008 initiated a reorganization plan to cut costs. It moved its headquarters from London to Luxembourg and changed its place of incorporation to Jersey to take advantage of tax breaks. The company initiated a new restructuring plan in late 2009 to help it weather the economic downturn while still opening new business centers in new and existing markets. The plan included a workforce reduction and closing underperforming centers.
The company's revenues have been rising, and Regus is well-positioned for further growth through acquisitions. In 2011, Regus made an unsolicited bid for MWB Business Exchange, which operates some 70 UK business centers. MWB Business Exchange rejected the bid, preferring a takeover bid from majority owner MWB Group, and Regus withdrew its offer.
CEO Mark Dixon, a former hot dog vendor who founded the firm in 1989, owns about 40% of Regus Group. – less