Soho House returns to profit after Covid: upscale members’ club recruits thousands of new clientele
Soho House returned to profit last year as members flocked to its bars, hotels and guesthouses.
The top-flight members’ club came back to life as lockdowns eased, ending the year £51.4m in the black after losing £20m a year earlier.
Returning customers buying food and drink and paying for hotel stays nearly doubled sales to £822million.
Expansion: Soho House ends the year £51.4million in the dark – its first annual results without founder Nick Jones (pictured) who stepped down as chief executive after beating cancer
Its wealthy clientele has not been deterred by the rising cost of living, with the waiting list for new members at an all-time high.
It has 226,830 members, up from 155,836 a year earlier. The number waiting to join stands at 86,000.
Soho House opened seven locations last year, including one in Brighton and a club in London. Last month, it opened a location in Bangkok and is lining up venues in Manchester and Mexico City.
It was the channel’s first set of annual results without founder Nick Jones, who stepped down as chief executive of US parent company Membership Collective Group after battling prostate cancer.
Shares of Soho House rose more than 18% in New York.
