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$Soho House (SHCO.US)$ Soho House & Co Inc. Announces Third Quarter 2024 Results
LONDON, U.K. December 19, 2024— Soho House & Co Inc. (NYSE: SHCO) (“SHCO,” “Company,” “we” or “our”), a global membership platform that connects a vibrant, diverse, and global group of members, today announced results for the third quarter ended September 29, 2024.
Third Quarter 2024 Highlights
•Total Members in the third quarter 2024 grew to 267,494 from 264,540 in second quarter 2024 and by 4.8% year-over-yearoSoho House Members grew to 208,078 from 204,028 in second quarter 2024, and 13% year-over-yearoSHCO Membership waitlist sits at approximately 111,000, remaining at record levels•Total revenues of $333.4 million, 13.6% year-over-year growth from revised third quarter 2023•Membership revenues grew to $107.4 million, a 16.7% increase year-over-year from revised third quarter 2023, accounting for 32.2% of Total revenues•In-House revenues of $120.7 million, up $5.4 million year-over-year from revised third quarter 2023oRevenue Per Available Room (“RevPAR”) was 5% higher year-over-year on a like-for-like basis•Net income attributable to Soho House & Co Inc. was $0.2 million or $0.00 per share•Adjusted EBITDA was $48.3 million, up $13.2 million from revised third quarter 2023•Opened Soho Mews House in the quarter
"Our third quarter results reflect the strength of our membership model. Membership revenues grew 17% year-on-year, while we achieved our highest ever quarterly Total revenues and Adjusted EBITDA. At the end of the period, we opened Soho Mews House in London, our 45th House, with great feedback from members. We have continued to see significant demand for other recent openings, including Sao Paulo, Mexico City and Portland,” said Andrew Carnie, CEO of Soho House & Co.
"Despite a choppy consumer environment, our long-term strategic focus on operational excellence and delivering the best member experience continues to drive improved performance. As always, I’d like to thank our teams for their passion and hard work, and members around the world for their continued loyalty.”
LONDON, U.K. December 19, 2024— Soho House & Co Inc. (NYSE: SHCO) (“SHCO,” “Company,” “we” or “our”), a global membership platform that connects a vibrant, diverse, and global group of members, today announced results for the third quarter ended September 29, 2024.
Third Quarter 2024 Highlights
•Total Members in the third quarter 2024 grew to 267,494 from 264,540 in second quarter 2024 and by 4.8% year-over-yearoSoho House Members grew to 208,078 from 204,028 in second quarter 2024, and 13% year-over-yearoSHCO Membership waitlist sits at approximately 111,000, remaining at record levels•Total revenues of $333.4 million, 13.6% year-over-year growth from revised third quarter 2023•Membership revenues grew to $107.4 million, a 16.7% increase year-over-year from revised third quarter 2023, accounting for 32.2% of Total revenues•In-House revenues of $120.7 million, up $5.4 million year-over-year from revised third quarter 2023oRevenue Per Available Room (“RevPAR”) was 5% higher year-over-year on a like-for-like basis•Net income attributable to Soho House & Co Inc. was $0.2 million or $0.00 per share•Adjusted EBITDA was $48.3 million, up $13.2 million from revised third quarter 2023•Opened Soho Mews House in the quarter
"Our third quarter results reflect the strength of our membership model. Membership revenues grew 17% year-on-year, while we achieved our highest ever quarterly Total revenues and Adjusted EBITDA. At the end of the period, we opened Soho Mews House in London, our 45th House, with great feedback from members. We have continued to see significant demand for other recent openings, including Sao Paulo, Mexico City and Portland,” said Andrew Carnie, CEO of Soho House & Co.
"Despite a choppy consumer environment, our long-term strategic focus on operational excellence and delivering the best member experience continues to drive improved performance. As always, I’d like to thank our teams for their passion and hard work, and members around the world for their continued loyalty.”
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