Soho House roars back to profit after Covid: Upmarket members club signs up thousands of new clientele
Soho House returned to profit last year as members flocked back to its bars, hotels and guesthouses.
The upmarket members’ club roared back to life as lockdowns eased, ending the year £51.4million in the black after a £20million loss a year earlier.
The return of customers buying food and drink and paying for hotel stays almost doubled sales to £822million.
Expansion: Soho House ending the year £51.4m in the black – its first full-year results without founder Nick Jones (pictured) who stepped down as chief exec after overcoming cancer
Its wealthy clientele was undeterred 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 sites last year, including one in Brighton and a club in London. Last month it opened a site in Bangkok and is lining up venues in Manchester and Mexico City.
It was the chain’s first set of full-year results without founder Nick Jones who stepped down as chief executive of US-based parent company Membership Collective Group after overcoming prostate cancer.
Shares in Soho House were up more than 18 per cent in New York.