Soho House results show healthy rise in revenue

By Jaq Bayles

Published: 11 August, 2025

Soho House has released its second quarter results, showing total revenue up 8.9% to $329.8m (£244.9m) on the same period last year, and membership revenues up 15.9% to $118.6 million (£88m).

The results for the period ending 29 June, 2025, also revealed in-House revenues of $132.5m (£98.4m), up 4.1% year on year; revenue per available room (RevPAR) 2% higher year on year on a like-for-like basis; and other revenues of $78.7m (£58.4m), up 7.3% driven by strong growth in Soho Home.

Net income attributable to Soho House & Co was $24.9m (£18.4m) or $0.13 (£0.09) per share and adjusted EBITDA was $46.1m (£34m), an increase from $31.5m (£23.6m) in the second quarter of 2024.

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Andrew Carnie, CEO of Soho House & Co, said: “Our second quarter results reflect the continued strength of the Soho House membership model and the real progress we’ve made in transforming the business.

“Total revenues grew 9%, and adjusted EBITDA was up 46% – a clear sign that our strategic priorities of enhancing member experience and improving operational efficiency are delivering results.

“We’re continuing to focus on what matters most to our members – whether it’s experiential openings like Soho Farmhouse Ibiza, refreshed spaces across our existing Houses, or more curated cultural programming. We’ve also launched in our Houses new Soho Health Clubs with holistic and advanced technology wellness facilities, and introduced new food and beverage residencies and diversified our menus – all of which help to deepen the value of every House membership.”

Robyn Duffy, consumer markets senior analyst at RSM UK, commented: “Soho House’s strong second quarter performance underscores the enduring appeal of its membership proposition and the strength of its global expansion strategy – both of which continue to drive consistent growth in members and revenues.

“More broadly, the results highlight a notable trend within the hospitality sector. While parts of the industry remain challenged by economic uncertainty and shifting consumer behaviours, brands like Soho House are somewhat insulated. Its appeal to a more affluent, experience-driven customer base, combined with signs of growing confidence among younger consumers, is helping to sustain demand even in a more cautious spending environment.

“That said, access to capital in the industry is increasingly challenging, as well as having to navigate the increase in staff costs and rising inflation. Soho House is tackling this through managing costs and growing margins, and therefore, running the business more efficiently and profitably.

“With a strong pipeline of new Houses, ongoing investment in member experience, and a clear focus on operational efficiency, the group is well positioned to deliver further growth and margin improvement throughout the remainder of 2025.”

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