Commercial Property : Regus Group

Sunday, 18 November 2012

Regus Group

In 1989 while on a business trip to Brussels, an English entrepreneur, Mark Dixon, noted the lack of office space available to travelling business people; they were often forced to work from hotels. He identified a need for office space that was maintained, staffed, and available for companies to use on a flexible basis and went on to found his first business centre in Brussels in Belgium.In 1994 Regus entered Latin America with a center in São Paulo and in 1999 it entered Asia with its first center in Beijing.The Company completed a successful IPO on the London Stock Exchange in 2000.In 2001 it acquired Stratis Business Centers, a U.S.-based network of franchised business centers, and expanded into the United States market.Later in 2001 the Regus business center on the 93rd floor of South Tower at the World Trade Center was destroyed during the 9/11 attacks; five employees lost their lives.The company was criticized for a lack of response to the victims' families, though a Regus official said they had made "proactive outreach to each and every family of the team members who are missing."