Soho House, the network of private members’ clubs, has achieved faster revenue growth as it opened new venues such as the Ned in London, but the privately held company remains lossmaking as it shoulders the costs of an ambitious expansion.
Nick Jones, the founder, said the company was aiming to open four to five houses a year, with its first Asian outposts soon to launch in Mumbai and Hong Kong. In Europe new venues are being planned in Paris, Milan, Rome and Lisbon, and in Austin and Nashville in the US.
“We are well on our way to becoming the first global club,” said the entrepreneur, who opened the first Soho House in central London in 1995.
The Times reports that Jones said that a mooted $2 billion initial public offering in New York had been “parked in the siding” and it had no immediate plans to go ahead with a listing.
