Soho House revenues hit $1.1bn in FY23
During the year, membership revenues rose 32.5% to $361.5m (£284.7m), accounting for 31.8% of total revenues
Soho House has reported that total revenues increased 16.8% year-over-year to $1.1bn (£870m) for the year ended 31 December 2023.
During the year, membership revenues rose 32.5% to $361.5m (£284.7m), accounting for 31.8% of total revenues.
Meanwhile, in-house revenues grew to $482.1m (£379.7m), spelling a 13% year-over-year rise.
In addition, adjusted EBITDA hit $128m (£100.8m) in December, rising from $60.7m (£47.8m) in FY22.
The group has attributed its performance to growing its total member count to 259,884 from 255,252 in Q4 2023, and by 14.6% year-over-year. The member count also grew to 193,865 from 184,542 in Q3 2023, and 19.7% year-over-year.
According to Soho House, its membership waitlist currently sits at approximately 99,000, an “all-time high” total revenues of $290.8m (£229.05m) that shows a 7.5% year-over-year growth.
Andrew Carnie, CEO of Soho House, said: “The strong results we delivered in 2023 demonstrate our continued focus on driving a better member experience and significant progress on improving profitability.
“We are excited for the year-ahead. I would like to thank our teams globally for their commitment and hard work, and our members for their enduring loyalty over nearly 30 years.”