Private members’ club Soho House has reached a valuation of $1.7 billion following an offer from an investor consortium. The proposal has sparked discussions that the UK-based club, which had faced criticism for losing its allure due to rapid expansion, could return to its former glory. Soho House has a branch in Istanbul and a boutique hotel in Bodrum, adding to its global footprint.
Founded in 1995 by American billionaire Ron Burkle as a private club for affluent and young professionals, Soho House quickly became a favorite among celebrities, including Taylor Swift, Kate Moss, and Leonardo DiCaprio. Over the years, it expanded rapidly, growing to 44 locations worldwide.
Board Evaluates $1.7 Billion Offer
The offer, which represents an 83% increase in Soho House’s valuation, is under review by the company’s board. While no details about the investors have been disclosed, analysts speculate that the deal could revitalize the brand.
Istanbul’s Soho House: A Blend of History and Luxury
Opened in 2015 as the 13th branch, Soho House Istanbul is housed in the historic Palazzo Corpi building in Beyoglu. The building, constructed in 1873 by a Genoese shipbuilder, served as the U.S. Embassy and residence after 1906 and later as the U.S. Consulate from 1937 to 2003.
The club boasts a rooftop pool terrace and the late-night Embassy Club. Membership starts at €131.25 per month, offering access either to the local branch or to all Soho House locations globally, depending on the membership type.
Art Collection Rivaling Galleries
Soho House is also renowned for its extensive art collection, featuring over 8,000 pieces globally. Istanbul’s collection includes works by notable artists such as Tuba Yalcinkaya, Yuri Pattison, Leyla Gediz, Seckin Pirim, and more.
Record Membership Numbers and Waiting List
As of September 2024, Soho House announced a record-breaking 208,000 members worldwide. The waiting list for membership is also at an all-time high.
Expanding to Brazil and Thailand
Despite its rapid growth, Soho House has struggled with profitability. After opening 27 new locations between 2018 and 2023—including Bangkok and Sao Paulo—the company continues to report annual losses.
Scorpios Bodrum Joins the Portfolio
In 2019, Soho House acquired Scorpios Beach Club in Mykonos. In summer 2024, Scorpios Bodrum launched, offering 12 bungalows with private pools. Known for its effortless luxury, the property includes expansive natural grounds, two high-end restaurants, meditation sessions, ice baths, and premium pricing. Soho House members enjoy a 10-15% discount and priority reservations via the club’s app.
Soho House’s $1.7 billion valuation and its global expansion signal continued ambitions for growth despite ongoing profitability challenges.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök