FeesSafety
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Willis Q2 sees demand drop, utilization falls to 85%, but management fees rise 113%.

Market News
08 Aug 2026
Seeking Alpha
View Source
Bearish
Willis Q2 sees demand drop, utilization falls to 85%, but management fees rise 113%.

Willis reported a softening in demand in Q2, leading to a decline in maintenance reserves and a drop in utilization rate from 87% to 85% year-over-year. Despite this, the management fees segment grew significantly by 113%. Most revenue still comes from leasing, and the current price-to-book ratio is much higher than the 5-year average, reflecting market dynamics but offering little margin of safety for investors.

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