Soho House & Co Inc
NYSE:SHCO
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Soho House & Co Inc
NYSE:SHCO
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MeiraGTx Holdings PLC
NASDAQ:MGTX
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Soho House & Co Inc
Soho House & Co., Inc. is a holding company, which offers global membership platform of physical and digital spaces. The company is headquartered in New York City, New York and currently employs 7,714 full-time employees. The company went IPO on 2021-07-15. The firm's business operations are conducted through its subsidiary, Soho House Holdings Limited. The company provides a global membership platform of physical and digital spaces that connects diverse groups of members from across the world. The members use the platform to both work and socialize, to connect, create, have fun and drive change. The firm's segments include United Kingdom, North America and Europe and Rest of the World. The members are engaged with the Company through its global portfolio consists of approximately 41 Soho Houses, nine Soho Works, Scorpios Beach Club in Mykonos, Soho Home, its interiors and lifestyle retail brand, and its digital channels. A Soho House membership offers access to a network of Houses, across North America, the United Kingdom, Europe and Asia. The Company’s portfolio also includes The LINE and Saguaro hotels in North America.
Soho House & Co., Inc. is a holding company, which offers global membership platform of physical and digital spaces. The company is headquartered in New York City, New York and currently employs 7,714 full-time employees. The company went IPO on 2021-07-15. The firm's business operations are conducted through its subsidiary, Soho House Holdings Limited. The company provides a global membership platform of physical and digital spaces that connects diverse groups of members from across the world. The members use the platform to both work and socialize, to connect, create, have fun and drive change. The firm's segments include United Kingdom, North America and Europe and Rest of the World. The members are engaged with the Company through its global portfolio consists of approximately 41 Soho Houses, nine Soho Works, Scorpios Beach Club in Mykonos, Soho Home, its interiors and lifestyle retail brand, and its digital channels. A Soho House membership offers access to a network of Houses, across North America, the United Kingdom, Europe and Asia. The Company’s portfolio also includes The LINE and Saguaro hotels in North America.
Buyout Offer: Soho House received a $9 per share buyout offer from a third-party consortium, a substantial premium to its current share price. An independent board committee is reviewing this offer.
Membership Growth: Membership revenues grew 17% year-over-year and 5% quarter-over-quarter, with global membership reaching about 208,000, supported by strong demand and a record waitlist.
Revenue & EBITDA: Total revenue rose 14% year-over-year to $333 million, while adjusted EBITDA increased 38% to $48 million, though this was slightly below management's expectations.
Guidance Lowered: 2024 total revenue guidance was reduced to the low end of the previous range (~$1.2 billion), and adjusted EBITDA guidance was cut to about $140 million due to weaker in-house spending and unique one-off events.
Regional Trends: Like-for-like sales growth was strongest in Europe and the UK, while North America lagged slightly, impacted by macro factors and U.S. election uncertainty.
Operational Transformation: The company is investing in a new ERP system and restructuring, causing near-term cost pressure but expected to drive future efficiency and savings.
Positive Outlook: Despite recent volatility, management sees strong momentum for Q1 2025 bedroom bookings, suggesting renewed demand post-election.
