Soho House, a hotel and private club chain, is moving to private ownership through an acquisition by MCR Hotels, valued at approximately $2.7 billion. Shareholders will receive $9 per share, an 18% premium over its last closing price. Key leadership changes include Neil Thomson as CFO and Tyler Morse joining the Board, alongside Ashton Kutcher. Since its IPO in 2021, Soho House reported consistent revenue growth despite economic challenges. MCR aims to leverage its expertise to enhance the brand's member experience and drive international growth.
"Since our IPO in 2021, we've focused on building a stronger, more resilient business. Against a backdrop of challenging economic conditions and global uncertainty, from 2022-2024 we delivered consistent, disciplined growth with revenue increasing at an average annual rate of double digit growth."
"Returning to private ownership enables us to build on this momentum, with the support of world class hospitality and investment partners."
"MCR's investment in Soho House represents a strategic opportunity to combine our operational expertise with one of the most distinctive brands in hospitality."
"Our shared goal is to safeguard the member experience, drive sustainable international growth for House members, and protect and expand the cultural and creative foundation that has made Soho House a global industry leader."
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