Soho House Q2 revenues rise 5.6% to $305m

Global members club operator, Soho House and Co, has reported that total revenues rose 5.6% year-over-year to $305.1m (£238.5m) for the second quarter to 30 June.

It comes as the group gained approximately 2,969 new members in the second quarter, taking its total members to 264,540. This shows a 6.6% rise year-over-year. 

Meanwhile, total Soho House members grew to 204,028 from 198,021 in the first quarter, and 16% year-over-year.

As a result, membership revenues rose to $103.6m (£81m), spelling a 16.1% increase year-over-year and accounting for 33.9% of total revenues. 

The Soho House membership waitlist also sits at roughly 111,000, which is an all-time high for the group. 

The group revealed that in-house revenues rose by $2.9m (£2.2m) year-over-year to $128.4m (£100.4m) during the period.  

Adjusted EBITDA also hit $33.3m (£26m), showing a rise of $1.6m (£1.25m) since the second quarter of 2023.

However, RevPAR across the group was flat year-over-year on a like-for-like basis.

Andrew Carnie, CEO of Soho House and Co, said: “Our second quarter results reflect the strong appeal of Soho House globally, with Soho House membership growing 16% year-on-year and our waitlist increasing to approximately 111,000. These positive membership trends have led us to raise our outlook for membership for the full year.

“I’d like to thank our teams for their passion and hard work, and members around the world for their continued loyalty.”