Membership Collective Group Expands The Ned to North America

Rhea-AI Summary

Membership Collective Group (MCG) has launched its first international location for The Ned in New York City, marking a significant expansion in North America. The Ned NoMad, housed in the historic Johnston Building, features 167 bedrooms, two restaurants, and four bars across 117,000 sq ft. This venue aims to create a vibrant community for professionals, building on the success of its London counterpart. The CEO, Nick Jones, noted strong demand for membership. The expansion is set to continue with additional locations planned, including a new site in Doha, Qatar.

Positive

• Successful opening of The Ned NoMad increases international presence.
• Strong demand for membership indicates growth potential.
• Expansion plans include additional international locations.

Negative

• None.

• THE FIRST INTERNATIONAL OUTPOST FOR THE NED, THE MEMBERS CLUB AND HOTEL FROM THE SOHO HOUSE TEAM

• LOCATED IN THE ICONIC JOHNSTON BUILDING WITH 167 BEDROOMS, TWO RESTAURANTS AND FOUR BARS, THE NED NOMAD IS SET TO BECOME A NEW YORK HOT SPOT

NEW YORK--(BUSINESS WIRE)-- Today, Membership Collective Group (NYSE: MCG) opened its doors to The Ned NoMad in New York City, its second property for The Ned members club and hotel and its first location in North America.

The Ned NoMad, the first international outpost for The Ned, the members club from the Soho House team. (Photo: Business Wire)

Five years after its successful London debut, The Ned NoMad is set to offer an elevated membership experience in the revitalized NoMad area of New York City.

“We've had such a warm response to The Ned NoMad from our existing Ned members and New Yorkers. The city has been on our wish list for some time and it's encouraging to see the demand for membership spaces where like-minded professionals feel they can flourish both socially and professionally. Following the success of The Ned in London and demand from our members, we look forward to the expansion of The Ned internationally over the coming years," said Nick Jones, CEO of Membership Collective Group.

The Ned caters to a professional demographic, leveraging MCG's 27-year success of building membership brands. Located in the Johnston Building, The Ned NoMad covers 117,000 sq ft and includes Ned’s Club; a members’ club that gives access to spaces including a rooftop terrace, as well as 167 bedrooms. It also hosts a Cecconi’s restaurant, the popular Venetian-inspired restaurant group owned by MCG. The restaurant marks Cecconi's first Manhattan location and second in New York taking the Italian restaurant group to 13 locations globally.

Expansion across Membership Collective Group continues this year with the opening of a third Ned location in Doha, Qatar, new Soho House locations including Stockholm a second property in Miami, Copenhagen, Mexico City and Bangkok, and The Line Hotel in San Francisco.

ENDS

About Membership Collective Group Inc.

The Membership Collective Group Inc. (MCG) is a global membership platform of physical and digital spaces that connects a vibrant, diverse and global group of members. These members use the MCG platform to work, socialize, connect, create and flourish all over the world. We began with the opening of the first Soho House in 1995 and remain the only company to have scaled a private membership network with a global presence. Members around the world engage with MCG through our global collection of 36 Soho Houses, 9 Soho Works, The Ned in London and New York, Scorpios Beach Club in Mykonos, Soho Home – our interiors and lifestyle retail brand – and our digital channels. The LINE and Saguaro hotels in North America also form part of MCG’s wider portfolio. Learn more about MCG: membershipcollectivegroup.com

SOURCE STRING: Membership Collective Group (MCG)

View source version on businesswire.com: https://www.businesswire.com/news/home/20220630005634/en/

Investor Relations

ir@membershipcollectivegroup.com



Media and Press

jakob.hesketh@sohohouse.com

Source: Membership Collective Group (MCG)

FAQ

What is The Ned NoMad opened by Membership Collective Group (MCG)?

The Ned NoMad is the first international outpost for The Ned, a members club and hotel, opened by Membership Collective Group in New York City.

When was The Ned NoMad launched by Membership Collective Group (MCG)?

The Ned NoMad was officially opened today by Membership Collective Group.

Where is The Ned NoMad located?

The Ned NoMad is located in the historic Johnston Building in New York City.

What can members expect at The Ned NoMad?

Members can enjoy amenities such as 167 bedrooms, two restaurants, and four bars, along with access to a members' club.

How many locations does Membership Collective Group (MCG) have globally?

Membership Collective Group operates 36 Soho Houses and 9 Soho Works globally, along with The Ned in London and New York.