Soho House, the exclusive members’ club chain that has become synonymous with celebrity culture and creative-class networking, is to return to private ownership in a $2.7bn (£2bn) deal, just four years after its high-profile listing on the New York Stock Exchange.
The move comes after a volatile spell as a public company, during which its share price halved, investors questioned its accounting methods, and the business struggled to balance rapid global expansion with the exclusivity demanded by its more than 213,000 members worldwide.
The deal will see MCR Hotels, the third-largest hotel operator in the United States, lead a group of new equity investors. Actor and tech investor Ashton Kutcher, long rumoured to be a member, will join the board, while MCR’s chief executive Tyler Morse will serve as vice-chair.
Existing major backers will remain in place, including Ron Burkle, the US retail billionaire who holds a 40% stake, restaurateur Richard Caring with 21%, and Goldman Sachs, which has 8%. Founder Nick Jones (pictured), who opened the first Soho House in London’s Greek Street in 1995, retains his 5%.
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