MCR Hotels to Lead Deal to Take Soho House Private: Report

Key Points

• MCR Hotels is leading a group to take Soho House private in a $1.8 billion deal, with support from Apollo Global Management.
• The buyout offers $9 per share, ending a dispute with activist investor Dan Loeb, and Soho House’s controlling shareholder Ron Burkle will retain his stake.
• Soho House, which has recently become profitable, operates 46 locations globally and is known for its exclusive membership clubs targeting creative professionals.

Summary

MCR Hotels is spearheading a $1.8 billion deal to take Soho House private, with financial backing from Apollo Global Management and continued involvement from controlling shareholder Ron Burkle. The offer, set at $9 per share, aims to resolve ongoing tensions with activist investor Dan Loeb, who had pushed for a higher bid. Soho House, which has recently reported consecutive quarterly profits, operates 46 exclusive membership clubs worldwide and has built a reputation for serving creative professionals with modern hospitality offerings.