tldrdaily.news logo
Tag

Soho House

All articles tagged with #soho house

business4 months ago

Soho House to Revert to Private Status in $2.7 Billion Deal

Soho House, a renowned members-only club founded in 1995 that caters to creatives and the artsy elite, has transitioned back to private ownership after facing financial difficulties and a decline in stock value since its 2021 IPO. Despite its global expansion and exclusive appeal, the company struggled with profitability and competition, leading to its recent sale at a lower valuation of $2.7 billion, with notable investors including Apollo Global Management and actor Ashton Kutcher.

via Business Insider|
#business#exclusivity#financial-struggles
business4 months ago

Soho House to Go Private in $2.7 Billion Deal Led by MCR

Private members' club chain Soho House was acquired for $2.7 billion by a consortium led by MCR Hotels and including Ashton Kutcher, who will join the company's board. The deal marks Soho House's return to private ownership after struggling with profitability and declining exclusivity since its NYSE listing in 2021. The company, known for its celebrity clientele and upscale venues, aims to expand further despite concerns about its business model and market challenges.

via BBC|
#ashton-kutcher#business#hospitality
business5 months ago

Exclusive Playgrounds: Inside India's Elite Leisure Spaces

India's new generation of wealthy individuals is shifting away from traditional colonial-era private clubs towards modern, inclusive, and creative-focused members-only spaces like Soho House, reflecting broader economic growth, demographic changes, and a move towards more democratic social environments, although access remains expensive and exclusive.

via BBC|
#business#india#luxury
business1 year ago

Soho House Considers Going Private Amid Short Seller Criticism

Soho House is considering going private after a short seller's report likened the company to WeWork and gave it a price target of zero, causing its shares to plunge. The company has formed a special committee to evaluate strategic transactions, and its rebuttal of the report did not deter the short seller's bearish outlook. Soho House's membership fees and age restrictions were highlighted as potential challenges, and the company missed Wall Street's expectations in its latest quarterly earnings report.

via New York Post |
#business#glasshouse-research#membership-clubs
business1 year ago

Soho House Considers Going Private Amid Financial Struggles

GlassHouse Research has published a report claiming that Soho House & Co, Inc. has a "broken business model" and "terrible accounting," alleging that the company is heading toward financial ruin and could end up going bankrupt. Soho House & Co, Inc. has refuted the report, stating that it contains factual inaccuracies and misleading statements. The company plans to share its 2023 results on March 6 and issue guidance for this year, with the expectation of continued growth in membership, revenues, and cash flows. GlassHouse Research issued a rebuttal, and the future of Soho House remains uncertain as the company faces scrutiny over its financial situation.

via Robb Report|
#bankruptcy#business#financial-report
travel-and-hospitality2 years ago

Soho House Announces Major Expansion into New York's Hudson Valley and Beyond

Soho House, the UK-born private club, is set to open its first countryside retreat in the US in Rhinebeck, New York's Hudson Valley. The venue, named Soho House Rhinebeck, will be located on the historic Grasmere estate and will feature restored 19th-century buildings, lodgings, various food and drink outlets, as well as outdoor activities such as hiking, cycling, and spa and wellness offerings. Soho House plans to open 20 new locations globally by 2025, with a focus on expanding in North America.

via New York Post |
#countryside-retreat#hudson-valley#private-club