Soho House, the celebrated private members’ club, has just gone public at $2.7b (£2b). A joint venture spearheaded by MCR Hotels—the country’s third-largest hotelier—finalized the acquisition. This purchase marks the biggest achievement yet for the fledgling hospitality brand. Most famous for its stellar private venues, the Festival has hosted the likes of the Duke and Duchess of Sussex, Kate Moss, Kendall Jenner and Ellie Goulding on its red carpets. Ashton Kutcher, the prominent actor and entrepreneur, will join the board of Soho House as part of this new ownership.
Soho House was established by Nick Jones in 1995. They opened their first club in London and have since grown to 46 locations across Europe, North America, and Asia. Celebrity and artistic haven Famous for its glamorous atmosphere and illustrious culture, the establishment quickly gained notoriety as the go-to hangout of the A-listers. Perhaps most famously, one of its London venues provided the setting for Prince Harry and Meghan Markle’s first date.
The purchase by hotel veteran MCR Hotels is intended to shore up the long-term operational stability and near-term growth potential of Soho House. The hotel group has a reputation for managing high-profile properties, such as the TWA Hotel at JFK Airport in New York and the BT Tower in London. Tyler Morse, CEO of MCR Hotels, will join the Soho House board in tandem.
Soho House has established itself not only as a venue for socializing but also as a hub where “like-minded creative thinkers meet, relax, have fun and grow.” The brand’s ability to marry attention to hospitality with community-building has made it a formidable contender in the largely homogeneous upscale market.
“We have long admired Soho House for bringing together cultures from around the world into a global network of 46 houses, and we look forward to the continued growth of that fabric, starting with four new houses opening soon.”
Troubles were always on the horizon as warned by industry analysts such as Susannah Streeter.
These concerns come as the hospitality industry is experiencing a larger paradigm shift that is reshaping the status quo. Particular emphasis will be placed on improving customer experiences without compromising fiscal sustainability.
“MCR Hotels, Ashton Kutcher and the other investors will have their work cut out to put Soho House back onto a more stable footing given concerns about the viability of its business model.”
Andrew Carnie, the current chief of Soho House, was proud of the brand’s success and excited by its potential. He remarked,
Soho House has entered a new period of ownership under MCR Hotels. With engagement from a celebrity such as Kutcher, it hopes to cement that reputation and luxury hospitality pedigree while leaning into a new generation of luxury hospitality suited to today’s consumer expectations.
“I’m incredibly proud of what our teams have accomplished and am excited about our future, as we continue to be guided by our members and grounded in the spirit that makes Soho House so special.”
As Soho House embarks on this new chapter under MCR Hotels and with celebrity involvement from Kutcher, it aims to reinforce its status as a leader in luxury hospitality while adapting to modern consumer expectations.