Soho House files confidentially to go public

Members-only club reportedly seeking $3B valuation

New York /
Apr.April 09, 2021 01:15 PM
Soho House founders Nick Jones and Ron Burkle (Getty)

Soho House founders Nick Jones and Ron Burkle (Getty)

Soho House is once again taking steps to go public.

The exclusive members-only club this week submitted a confidential filing for an initial public offering with the U.S. Securities and Exchange Commission, Sky News first reported. The IPO would value the company, headquartered in London, at more than $3 billion.

In February, the company hired JPMorgan Chase and Morgan Stanley to advise on its latest IPO attempt, according the Times of London.

The company has been toying with the idea of going public on the New York Stock Exchange since at least 2018, but has opted to raise money privately in the years since.

Soho House was founded in 1995 by British hospitality executive Nick Jones, and its London clubs quickly hotspots thanks to their discreet service and celebrity clientele. Now, the company operates 27 members-only clubs in 10 countries, including three locations in New York City. The company also runs a series of co-working spaces, comparable to WeWork, dubbed Soho Works. Billionaire businessman Ron Burkle now owns a majority stake in the company.

But it suffered similar issued that plagued other hospitality firms during the pandemic: After being forced to close its locations due to Covid-19, Soho House furloughed the vast majority of its staff.

However, less than 10 percent of Soho House’s 110,000 members canceled their accounts during the pandemic. In part, that’s because the company has offered select perks to its members, despite its locations being inaccessible.

[Sky News, Times of London] — Sasha Jones





    Related Articles

    arrow_forward_ios
    Vector CEO Howard Lorber and Elliman CEO Scott Durkin (Getty)
    Douglas Elliman to go public in spinoff from Vector Group
    Douglas Elliman to go public in spinoff from Vector Group
    286 Lenox Avenue in Harlem (Google Maps, iStock)
    Interested in investing in a single building? This Harlem property could be your chance
    Interested in investing in a single building? This Harlem property could be your chance
    Authentic Brands CEO Jamie Salter (Getty)
    Authentic Brands files for IPO amid acquisition spree
    Authentic Brands files for IPO amid acquisition spree
    Orchard's Patrick McClymont and HomeLight's Sean Aggarwal (Photos via IMAX, The Org)
    Orchard, HomeLight move toward IPOs with new execs
    Orchard, HomeLight move toward IPOs with new execs
    Procore CEO Tooey Courtemanche (Linkedin, SEC) 
    Procore raises $635M in long-awaited IPO
    Procore raises $635M in long-awaited IPO
    SmartRent CEO Lucas Haldeman (middle) with Fifth Wall’s Brendan Wallace (left) and Andriy Mykhaylovskyy (SmartRent, Fifth Wall, iStock)
    SmartRent to go public via Fifth Wall SPAC
    SmartRent to go public via Fifth Wall SPAC
    Howard Hanna CEO Helen Hanna Casey and Compass CEO Robert Reffkin (Howard Hanna Casey, Getty)
    Howard Hanna accuses Compass of poaching agents, stealing trade secrets
    Howard Hanna accuses Compass of poaching agents, stealing trade secrets
    TRD Tips: Bradley Tusk gives a crash course on SPACs
    TRD Tips: Bradley Tusk gives a crash course on SPACs
    TRD Tips: Bradley Tusk gives a crash course on SPACs
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...