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The Membership Collective Group (MCG) is a global membership platform of physical and digital spaces that connects a vibrant, diverse, and global group of members. Members utilize the MCG platform for work, socializing, connecting, creating, and flourishing worldwide. Founded with the first Soho House in 1995, MCG is the only company to have expanded a private membership network on a global scale. Members worldwide interact with MCG through its diverse portfolio, including 30 Soho Houses, 9 Soho Works, The Ned in London, Scorpios Beach Club in Mykonos, Soho Home, and its digital channels.
Soho House & Co (NYSE: SHCO) reported strong Q3 2024 results with total revenues reaching $333.4 million, up 13.6% year-over-year. Membership revenues grew 16.7% to $107.4 million, while In-House revenues increased to $120.7 million. The company achieved net income of $0.2 million ($0.00 per share) and Adjusted EBITDA of $48.3 million.
Total Members grew to 267,494, with Soho House Members increasing 13% year-over-year to 208,078. The membership waitlist remains strong at approximately 111,000. The company opened Soho Mews House in London, its 45th House, during the quarter. RevPAR showed a 5% year-over-year increase on a like-for-like basis.
Soho House & Co Inc. (NYSE: SHCO) has received a $9.00 per share acquisition offer from a third-party consortium, representing an 83% premium over the December 18, 2024 closing price. The offer is contingent on major shareholders, including Executive Chairman Ron Burkle and The Yucaipa Companies, maintaining their equity interests through a rollover arrangement.
The proposal emerged from Yucaipa's strategic review aimed at enhancing shareholder value, as they believe SHCO's current share price doesn't reflect its true value. In response, the Board has formed an independent Special Committee to evaluate the offer. The company has stated that no further public comments will be made until a specific transaction is approved or the review concludes.
Soho House & Co (NYSE: SHCO) has scheduled the release of its third-quarter 2024 financial results on Thursday, December 19, 2024. The company will host a conference call and live webcast at 9:00 am ET on the same day to discuss the results.
SHCO is a global membership platform operating 45 Soho Houses, 8 Soho Works, Scorpios Beach Clubs, and various hospitality venues. The company's portfolio includes The Ned properties in London, New York, and Doha, as well as The LINE and Saguaro hotels in North America. Founded in 1995, SHCO remains the only company to have scaled a private membership network globally, offering physical and digital spaces for members to work, socialize, and connect.
Soho House & Co (NYSE: SHCO) has announced a delay in filing its Form 10-Q for the third quarter of 2024, covering the 13-week and 39-week periods ended September 29, 2024. The company expects to file the report in mid-December 2024. Following the earnings release and 10-Q filing, the company plans to hold an Investor Day in early 2025 to discuss growth opportunities. The delay comes after the company's previous Form 12b-25 filing on November 6, 2024, stating it couldn't file by the original November 13, 2024 deadline without unreasonable effort or expense.
Soho House & Co. (NYSE: SHCO) announced its Q2 2024 results. Total members grew to 264,540, a 6.6% YoY increase, with SHCO members rising by 16% to 204,028. The membership waitlist hit a record 111,000. Total revenues were $305.1 million, a 5.6% increase. Membership revenues rose by 16.1% to $103.6 million, making up 33.9% of total revenues. In-house revenues grew by $2.9 million to $128.4 million. RevPAR was flat YoY. SHCO reported a net loss of $33.9 million or $0.17 per share, mainly due to $27 million in higher non-cash FX losses. Adjusted EBITDA increased by $1.6 million to $33.3 million. The company opened Soho House Sao Paulo and Scorpios Bodrum and plans four more houses across Europe and Asia.
Soho House & Co Inc. (NYSE: SHCO), a global membership platform, will release its second-quarter 2024 financial results on Friday, August 9, 2024. The company will host a conference call and live webcast at 9:00 am ET on the same day to discuss the results. Investors can access the call via phone or webcast, with replay available on the company website for up to 90 days. SHCO operates a diverse portfolio including 44 Soho Houses, 9 Soho Works, Scorpios Beach Clubs, The Ned hotels, and the Soho Home retail brand across various global locations.
Soho House & Co, trading under the ticker SHCO on the NYSE, has announced the dissolution of a Special Committee formed to evaluate strategic transactions, including a potential privatization. The committee was formed in response to an offer valuing the company at a premium over its current trading price. However, the offer was deemed insufficient in reflecting the company's true value and not in the best interest of public stockholders. In addition, Soho House will hold an Investor Day later this year to discuss long-term growth plans. The Board also approved a $50 million share repurchase program in February 2024.
Soho House & Co Inc. (NYSE: SHCO) reported solid first quarter 2024 results with total members growing to 261,571, a 9.9% increase year-over-year, and membership revenues reaching $100.2 million, up 20.4% year-over-year. However, the company reported a net loss of $46.0 million and a decrease in In-House revenues by -5% year-over-year. Adjusted EBITDA was $19.3 million, down $(0.8) million from first quarter 2023. The company remains optimistic about future growth with plans to open new locations and raise midpoint of Adjusted EBITDA guidance.
Soho House & Co Inc. (NYSE: SHCO) will announce its first quarter 2024 financial results on May 10, 2024. The global membership platform includes Soho House, Soho Works, The Ned, Scorpios Beach Club, Soho Home, and The Line and Saguaro Hotels. A conference call and webcast will be held to discuss the results. Soho House & Co Inc. is a global membership platform connecting a diverse group of members through physical and digital spaces.
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