Soho House: A New Chapter with Ashton Kutcher

Soho House, a well-known private members' club, has been acquired for a massive $2. 7bn (£2bn). This deal brings Hollywood actor and investor Ashton Kutcher onto the board, signaling a fresh chapter for the club. The club, which started in London in 1995, has grown to 46 locations across Europe, North America, and Asia. It's famous for attracting A-list celebrities and even hosted Prince Harry and Meghan Markle's first date. However, since going public in 2021, its shares have dropped significantly, struggling to turn a profit and losing some of its exclusive charm. The acquisition was led by MCR Hotels, a major US hotel group, with Apollo, a private equity firm, facilitating the deal. Existing shareholders, including founder Nick Jones and Ivy Collection boss Richard Caring, will keep their stakes. Ashton Kutcher and MCR's CEO, Tyler Morse, will join the board, expressing excitement about the club's global network and future growth. Soho House is known for its creative and relaxed atmosphere, with members like Kate Moss, Kendall Jenner, and Ellie Goulding. It operates various venues and businesses, including office buildings and beach clubs. However, rapid expansion has led to concerns about maintaining exclusivity, especially with high membership fees. Experts like Susannah Streeter from Hargreaves Lansdown caution that having a Hollywood star on the board isn't enough. They believe the new investors have a tough job ahead to stabilize Soho House, especially with challenges in the restaurant business and changing consumer spending habits.