Inside the history of Soho House, the members-only club that bans photos and is going private again

True to its status as a members-only club, Soho House is once again going private.

Soho House, a self-described members-only club for “creatives,” announced in August that it’s ending its yearslong stint as a publicly traded company. The London-based company has helped sparked a private club boom and has more than 40 houses across the globe, which have been the site of pivotal networking connections.

While the company caters to the wealthy, its own finances have faltered. After going public in 2021, Soho House’s stock dipped sharply as it struggled to turn a profit. It was valued at $2.7 billion at the time of the August sale to investors, which include actor Ashton Kutcher and Apollo Global Management.

Wenjia Han, an assistant professor of hospitality management at Purdue University Fort Wayne and coauthor of a paper on Soho House’s strategic management, said that Soho House faces a “paradox.” On the one hand, she said, the company wants to grow its brand and membership, but growing it too much risks undermining the exclusivity.

Here’s a brief history of the company and its role as an especially chic networking hub.

Soho House was founded in 1995

Nick Jones, a British restaurateur, opened the first Soho House in 1995 above his London restaurant. The club was in a Georgian-style house in the Soho neighborhood, hence the name, according to the club’s website. Today, houses can include restaurants, bars, gyms, coworking spaces, and pools. There are 46 houses across the globe, with more in the works.

Dues cost thousands

Membership pricing varies based on age, location, and access level, but can cost upward of $5,000 a year. Han said that Soho House’s long waitlist and intentionally subtle marketing help enforce its image of exclusivity.

Soho House offers networking opportunities

Though it’s technically a social club, Soho House also offers networking opportunities for those in both the corporate and creative worlds. Some use the clubs to type away on their laptops or take business meetings, while others have forged invaluable career connections there. The brand has created Soho Works, a network of office spaces that anyone can join, even if they’re not a member of the houses.

Tech venture capitalist Fred Wilson, for example, posted on his blog about a meeting at Soho House London that finally convinced him to invest in SoundCloud. And various directors, writers, and actors also told the Hollywood Reporter about how often they use the space for work.

It courts successful creatives

The application-based club caters to the artsy elite, like designers and musicians. On Instagram, it recently posted about events with the actor and DJ Idris Elba, ASAP Rocky, and Milan Design Week. In 2010, a Soho House in Manhattan purged at least 500 members who it said were too “corporate.”

“When I went there, it didn’t have the right feel anymore,” Jones, the founder, told the New York Post at the time. “It has always been a creative, friendly place with a relaxed feel. If there are too many corporate types around then that atmosphere doesn’t occur.”

Privacy is part of the draw — the clubs don’t let members take pictures while there. As of the end of June, Soho House had more than 270,000 members worldwide, according to its second-quarter earnings report.

Soho House went public in 2021

In 2021, Soho House went public at around a $2.8 billion valuation. At the time, its IPO price was $14 per share. The billionaire Ronald Burkle acquired a majority stake in Soho House in 2012 and remains the largest shareholder.

The club’s finances and image struggled, and other clubs popped up

Soho House continued to expand, but its stock fell during its time as a public company. Despite reporting profits in the second quarter of 2025, it lost money most of the time. Shortly before it went private again in August, the stock price was down 45% from its first day on the market, with shares trading at $7.64.

Meanwhile, other private clubs have popped up across the country and globe, including Ned’s Club, a spinoff of Soho House.

In August 2025, Soho House went back to private ownership

In August, Soho House put its publicly traded problems to rest and went private yet again. The company agreed to sell itself to investors at a $2.7 billion valuation, it said in a statement. Investors, led by hotel operator MCR Hotels, paid $9 per share, which is 18% higher than where shares closed on the weekday prior. It’s still, however, less than the $14 share price during its 2021 IPO. The stock rose after the announcement of privatization.

Other investors include Marc Rowan’s Apollo Global Management and the actor Ashton Kutcher, who will join the company’s board. Existing shareholders, including Burkle, will roll their holdings into the new company.

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