Soho House, the exclusive members-only club that started above a London café in the ’90s, is set to go private again in a $2.7 billion deal. The move is being led by New York–based MCR
Hotels and comes just three years after Soho House went public in 2021.
Shareholders will receive $9 per share — about an 18% premium over its most recent closing price. News of the deal sent the stock climbing more than 15%, trading just under that $9 mark shortly after the announcement.
One of the biggest headlines from the deal? Actor and tech investor Ashton Kutcher will join the Soho House board. At the same time, longtime hospitality executive Neil Thomson is stepping in as CFO, replacing Thomas Allen.
But the future of Soho House isn’t just about a new board member with Hollywood flair. Analysts warn the company still faces big challenges. The brand, once defined by exclusivity, has expanded rapidly, leading some to worry that its cachet is fading. On top of that, consumers are tightening their belts on luxury spending — a tough backdrop for a company that relies heavily on in-house dining, events, and entertainment.
Founded in 1995 by restaurateur Nick Jones, Soho House has grown into a global network of clubs across Europe, North America, and Asia. Despite steady growth in both membership and revenue, profitability has been elusive. That’s part of why leadership began considering a private deal less than three years after its Wall Street debut.
Major shareholders are on board. Hedge fund billionaire Daniel Loeb, whose Third Point fund owns nearly 10% of Soho House, said he supports the transaction. “As both a shareholder and a Soho House member, I support this move and am pleased to see the club in good hands,” Loeb told Reuters.
Under the new structure, MCR Hotels will buy up the publicly traded shares. But founder Nick Jones, along with billionaire Ron Burkle and his firm Yucaipa, will continue to hold majority control. Together, Jones and Burkle already own about 75% of the company.
The deal is also backed by Apollo Global Management, which is contributing around $850 million in a mix of debt and equity financing — part of a broader push into what Apollo calls “hybrid capital.”
Soho House may soon be out of the public spotlight, but with celebrity investors, heavyweight financiers, and ambitious plans for the brand, its next chapter is just beginning. Photo by pvsbond, Wikimedia commons.