VIP club Soho House aims to go big in the US as bosses plan to list it

VIP club Soho House aims to go big in the US as bosses plan to list it

06/22/2021

VIP club Soho House aims to go big in the US as bosses plan to list it on the stock market

  • Soho House is known for an exclusive hotels and clubs – 11 of which are in the UK
  • Firm plans to list on the US stock market under Membership Collective Group
  • Rumoured Meghan Markle visited a venue before her wedding to Prince Harry

Private members’ club Soho House is planning to list on the US stock market, despite having never turned a profit.

It is known for its exclusive hotels and clubs around the world, including 11 in the UK – eight of which are in London.

Before her wedding to Prince Harry in May 2018, it was reported Meghan Markle had enjoyed a spa weekend with friends at Soho Farmhouse in the Cotswolds.

Private members’ club Soho House, known for its exclusive hotels and clubs around the world, is planning to list on the US stock market, despite having never turned a profit

David and Victoria Beckham have also apparently considered spending £350,000 to hire Soho Farmhouse’s 40 cabins and two cottages for their son Brooklyn’s forthcoming wedding.

Nick Jones, who established the first club on London’s Greek Street in 1995, owns just under 10 per cent of the business.

In 2019, Soho House raised £72million for a 5 per cent stake – suggesting a £1.4billion valuation. 

A statement filed with financial regulators said: ‘We have incurred net losses in each year since our inception and we may not be able to achieve profitability.’

The chain will list under the name of Membership Collective Group.

Before her wedding to Prince Harry in May 2018, it was reported Meghan Markle had enjoyed a spa weekend with friends at Soho Farmhouse in the Cotswolds

Before her wedding to Prince Harry in May 2018, it was reported Meghan Markle had enjoyed a spa weekend with friends at Soho Farmhouse in the Cotswolds

David and Victoria Beckham have also apparently considered spending £350,000 to hire Soho Farmhouse’s 40 cabins and two cottages for their son Brooklyn’s forthcoming wedding

An initial public offering (IPO) could value Soho House, which serves more than 119,000 members across locations in Europe, Asia and the US, at up to £3bn, City sources have speculated.

And it would beef up the fortunes of its already wealthy backers.

The chain of clubs, which includes The Ned in London and Scorpios Beach Club in Mykonos, also counts British millionaire and owner of The Ivy restaurants Richard Caring as a 30pc owner.

In an email to members, Jones said the IPO would ‘enable us to acelerate our investment in improving both the physical and digital elements of your membership’.

The chain of clubs, which includes The Ned in London and Scorpios Beach Club in Mykonos (pictured), also counts British millionaire and owner of The Ivy restaurants Richard Caring as a 30pc owner

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