Soho House, owner of private clubs and hotels, raises $ 100 million to help finance global expansion
Soho House, owner of private clubs and hotels, has raised $ 100 million (£ 78 million) to help finance global expansion.
The London-based company, founded by Nick Jones, said the money would help it almost double its footprint to 50 locations within four years.
The investment came from the American companies Raycliff Capital and Simon Property Group in exchange for a stake of 5 percent, with a value of almost £ 1.6 billion.
Good times: the London-based company was founded by Nick Jones (pictured with wife Kirsty Young)
Soho House also revealed that its annual losses in 2018 increased from £ 60 million to £ 65 million, thanks to investments in its ambitious growth plans.
Revenues increased by 20 percent to £ 432.5 million, boosted by rising sales of food and drinks and the addition of more than 20,000 members – bringing the total to around 89,000 worldwide.
Jones said that 2018 was an extremely busy year for Soho House as we continued to expand our global membership.
The company runs clubs for private members for those who work in the arts and media, with a pass for all clubs – or houses – that costs £ 1,700 a year. Jones said: & # 39; We are happy with it (the loss). At the moment it's all about expanding and opening more houses. & # 39;
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