Soho House bought for £2bn as Ashton Kutcher joins board

Soho House, a well-known private members' club, has been bought for £2 billion by a group of investors that includes Hollywood actor Ashton Kutcher. Kutcher will also join the board of Soho House, helping to guide the club's future. The club first opened in London in 1995 and has since expanded to 46 locations across Europe, North America, and Asia. Soho House is famous for attracting celebrities and creative people, and it is even rumored that Prince Harry and Meghan Markle had their first date at one of its London venues.

Despite its popularity, Soho House has faced challenges in recent years. After listing on the New York Stock Exchange in 2021, the value of its shares dropped sharply. Many people felt that the club had lost some of its exclusivity, which was one of its main attractions. The new deal values Soho House shares at $9 each, which is higher than the recent trading price but still below the peak price from 2021. The group buying Soho House is led by MCR Hotels, a major hotel company in the US, and the deal was arranged by Apollo, a private equity firm. Existing shareholders, including founder Nick Jones and restaurant boss Richard Caring, will keep their stakes in the company.

Soho House is known for its stylish venues and creative atmosphere. Members include famous models, musicians, and even royalty. The club has expanded to include office spaces called Soho Works and beach clubs in places like Mykonos and Bodrum. However, this growth has led to criticism that Soho House is no longer as exclusive as it once was, especially given its high membership fees. Financial experts say that having Ashton Kutcher on the board is exciting, but the club will need more than celebrity involvement to succeed in the long term. The hospitality industry is facing tough times, and Soho House will need to find ways to stay special and attract members. Some people believe that changing the rules about who can join has made the club less unique. The chief executive, Andrew Carnie, says that returning to private ownership shows confidence in Soho House's future, and he is proud of what the team has achieved so far.