What SoHo House Going Public Says About the Future of Luxury Travel
Photo Credit: SoHo House is taking a second crack at taking its members-only social clubs (pictured: the SoHo House Istanbul) public on the stock exchange. Flickr / Ben Terrett
Skift Take
Even if luxury travel bounces back quickly, there may be a ceiling on how well an exclusive, members-only club like SoHo House will do during the pandemic recovery relative to traditional, luxury hotel competitors.
The notoriously exclusive SoHo House, a global chain of members-only clubs known for favoring the creative class over financiers, is finally courting Wall Street in a second attempt to go public.
SoHo House is working with Morgan Stanley and JP Morgan on a potential New York stock market listing that would value the company at as much as $3 billion, the British newspaper the Times reported late last week. The London-based members club ended plans to go public in 2018, when the company was then valued at $2 billion.
It may not seem like the best time for a company like SoHo House to go public, given the world is nearly a year into a global pandemic that has temporarily suspended operations at many of the company’s 27 clubs and left 1,000 of its 8,000 employees without a job.
Find all the hotel development news you need with Early Check-In, arriving every Monday morning to Skift Pro subscribers.
But travel analysts see plenty of upside to the
