Bloomberg News

Soho House to Open New Clubs as Annual Revenue, Profit Increase

May 27, 2012

Soho House Group, a chain of private members’ clubs in the U.K. and the U.S., said it will open five new venues by 2014 after reporting increased revenue and profit for 2011.

Clubs will open in Barcelona, Istanbul, Mumbai, Toronto and Chicago, London-based Soho House said in an e-mailed statement today. Revenue rose 19 percent to 132 million pounds ($207 million), while earnings before interest, tax, depreciation and amortization climbed by 16 percent to 18 million pounds, on a pro-rata basis.

“I’m delighted that the Soho House family is set to grow,” Nick Jones, founder and chief executive officer, said in the statement. “We’ve been working on these projects for a long time, seeking out the right properties and locations in the cities we want to be in.” Billionaire Ron Burkle bought a stake in the group in January and assumed the role of chairman.

The Sunday Times newspaper reported Soho House’s expansion and financial news earlier. The company, founded in 1995, will also open another Pizza East site in Kentish Town in north London, it said.

To contact the reporter on this story: Clementine Fletcher in London cfletcher5@bloomberg.net.

To contact the editor responsible for this story: Sara Marley at smarley1@bloomberg.net


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