Soho House roars back to profit

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Last year, Soho House began to turn a profit again, as club members returned to its bars, hotels and guest houses.

The elite members club roared back to life as the lockdown eased, ending the year up £51.4m after losing £20m a year earlier.

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The return of customers buying food and drink and paying for hotel stays nearly doubled sales to £822m.

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Expansion: Soho House ended the year up by £51.4m, the first results for the year without founder Nick Jones (pictured), who stepped down as chief executive after overcoming cancer.

His wealthy clientele was undeterred by the rising cost of living, and the waiting list for new members was as high as ever.

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It has 226,830 members, up from 155,836 a year earlier. The number of people wishing to join is 86,000 people.

Soho House opened seven venues last year, including one in Brighton and a club in London. He opened a site in Bangkok last month and will build a number of venues in Manchester and Mexico City.

It was the network’s first set of results in a year without founder Nick Jones, who stepped down as chief executive of US parent company Membership Collective Group after overcoming prostate cancer.

Soho House shares are up more than 18% in New York.

Credit: www.thisismoney.co.uk /

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