Soho House & Co Back in Private Hands. A $2.7 Billion Deal

On 18 August in London, Soho House & Co Inc. (SHCO), the global membership platform connecting members around the world, announced that it has entered into definitive agreements under which a group of investors led by U.S.-based MCR (the third-largest hotel owner and operator in the United States) and its CEO Tyler Morse will acquire the outstanding shares of Soho House not owned by certain significant shareholders. The offer represents a total enterprise value of approximately $2.7 billion for Soho House. Ron Burkle, the executive chairman of Soho House, and his private equity firm Yucapai will retain their shares and majority ownership interests.

This private membership platform opened its first Soho House in 1995. As of June 2025, the company's portfolio includes 46 Soho Houses, 8 Soho Works, the Scorpios Beach Clubs in Mykonos and Bodrum, Soho Home, The Ned in London, New York and Doha, as well as The LINE and Saguaro hotels in North America.

This is a small revolution for fans of Soho House, which offers its members physical and digital spaces where they can relax, eat, work, meet other members or stay overnight. Indeed, after going public on the New York Stock Exchange in 2021 to enable the company to grow, the Soho House brand has now opted to go private once again. Once the proposed transaction is complete, SHCO's ordinary shares will cease to be traded on the New York Stock Exchange.

However, affiliates should not see any major changes to the concept, as the MCR group is widely recognised around the world for the quality of its establishments. Its portfolio includes iconic hotels such as the TWA Hotel at JFK Airport, the High Line Hotel and the Gramercy Park Hotel in New York, and the BT Tower in London. Apollo will finance the transaction, while new equity will be provided by a consortium of strategic investors led by actor and serial technology investor Ashton Kutcher, who will also join the company's board of directors upon completion of the transaction.

Andrew Carnie, CEO of Soho House & Co, said in the statement: ‘Returning to private capital allows us to continue our momentum with the support of world-class hotel and investment partners. I am extremely proud of the work our teams have accomplished and excited about our future as we continue to be guided by our members and rooted in the spirit that makes Soho House unique.’

Soho House & Co's revenue was $1.2 billion in 2024, up 7% from 2023. Soho House recently expanded to São Paulo, Mexico City, Nashville and Paris.