Is Soho House Still Exclusive? Members Weigh In As The ‘Club For Creatives’ Goes Private In $2.7B Deal
New changes are underway at Soho House.
What Is Soho House?
On its website, Soho House describes itself as “a club for creatives” and was established in London by Nick Jones — a restaurateur — in 1995.
The Hollywood Reporter mentions that Soho House became a place of empowerment for those in fashion, art, music, and media, attracting high-profile celebrities. In fact, it is the place where Prince Harry first met Meghan Markle, per Vogue.
Per its website, Soho House offers relaxed getaway stays for members that feature club spaces, spas, gyms and screening rooms. Members can also book bedrooms, cabins, lofts, or apartments at the houses and are promised the best rates and special advanced bookings. Another offering is the Soho Health Club, which promises fitness, holistic wellness, and improved technology.
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Is It Hard To Get Into Soho House?
With a few exceptions, Soho House membership costs $750 quarterly or $3,000 annually for access to more than 40 Soho Houses globally, based on membership pricing on its website. A separate landing page reads that Soho House encourages people under 27 to apply for a membership, offering lower costs to those who do so until their 30th birthday.
Last year, Soho House closed its application — as a result of overcrowding — in its New York, Los Angeles, and London locations, CNN reports. At the time, there were 185,000 members and nearly 98,000 people on the waitlist.
Is Soho House No Longer Cool?
Recently, users have been publicly sharing their thoughts and experiences on the company’s rapid growth as they weigh on whether they’re going to keep their memberships.
In a video posted on TikTok, Jay Choyce Tibbitts, a fashion creator and strategist, shared:
“In business, there’s really only two ways to grow, to get the people who are already buying your product to buy more or to get new people to buy the product. This is why everyone’s always trying to get younger audiences. But in luxury and exclusive spaces, doing the latter can dilute the entire value of what your brand is offering…The public markets demand speed and constant growth. But as the CEO of Saks Global Marc Metrick put it, luxury is a long game, and when brands chase short term growth, they almost always sacrifice long term value.”
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Soho House Stock And Going Private
Actor Ashton Kutcher will join Soho’s board, and hospitality veteran Neil Thomson will become its chief financial officer.
“Soho House will need a bit more than celebrity stardust to cement its long-term future,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown, according to Reuters.
“Its rapid expansion in recent years has sparked concerns that its ‘exclusive’ label was wearing thin,” Streeter added.
