Soho House & Co Inc. reports Q3 total revenues of $370.8 million, 11.2% year-over-year growth. Membership revenues grew to $122.7 million, a 14.3% increase year-over-year. In-House revenues of $126.1 million, up 4.5% year-over-year. Revenue Per Available Room (“RevPAR”) was 2% higher year-over-year on a like-for-like basis.
Net loss attributable to Soho House & Co Inc. was $18.7 million or $0.10 loss per share, inclusive of $14.0 million non-cash FX losses. Adjusted EBITDA was $53.8 million, an increase from $48.3 million in third quarter 2024. Other revenues of $122.0 million, up 15.8% year-over-year driven by strong growth in Scorpios and Soho Home.
Membership growth alone no longer guarantees profitability when experiential brands scale beyond their optimal cultural footprint. Soho House’s challenge now is not demand but discipline: tightening the brand, restoring scarcity, and letting fewer houses work harder. Exclusivity doesn’t collapse from lack of interest – it erodes when too many people are allowed in.
“Our third quarter results reflect the continued strength and appeal of Soho House,” said Andrew Carnie, CEO of Soho House & Co. “Total revenues grew 11% and Adjusted EBITDA was up 11%, demonstrating that our strategic priorities – enhancing member experience and improving operational efficiency – are delivering sustainable growth. We’re investing in what matters most to our members — refreshing existing Houses such as Soho House West Hollywood, expanding our food and beverage offerings with new concepts including Nancy Silverton and Berenjak in Los Angeles, and providing events across our Clubs that only Soho House can do.
As part of our experiential House strategy, we opened Soho Farmhouse Ibiza and transformed Soho Farmhouse in the UK with new fitness amenities including padel courts and our first Lazy Lab — a concept designed to support longevity and holistic wellbeing. We continue to see strong demand for our health and wellness offering and plan to expand Soho Health Clubs further. Our results build on the positive momentum we’ve seen throughout the year, with year-to-date revenues up 9% and EBITDA up 47%. I’d like to thank our teams for their dedication and our members for their loyalty.”
Soho House West Hollywood
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