Soho House returns to profit in first quarter after covid insurance payout, UK membership numbers up 50.5% in three years: Members’ club group Soho House has reported a net profit of $8.2m in the 13 weeks to 30 March 2025 compared with a loss of $41.6m the year before. Revenue increased 8.0% to $282.9m compared with £261.9m the previous year. Adjusted Ebitda was up to $46.7m from $19.8m the year before. The net income and adjusted Ebitda amounts included $22.9m of business interruption insurance proceeds related to covid-19 received in the quarter. The company also said it had submitted a $3m insurance claim regarding wildfires in Los Angeles but has not received any proceeds. The number of UK members was up to 73,101 from 71,835 the previous year and that figure has increased 50.5% since January 2022, when the number of members was 48,575. The number of UK houses increased to 14 compared with 13 the previous year and was up from 11 in January 2022. Globally, the number increased to 45 from 43 the year before. Total members in the first quarter of 2024 grew 3.1% to 269,636 from 261,571 the previous year. Soho House members grew 7.1% to 212,001 from 198,021 the year before. Membership revenue grew to $112.9m, a 14.1% increase year on year. In-house revenue of $112.4m was up 1.9% on the previous year. Revpar was up 4% on a like-for-like basis with the year before. Soho House ended the first quarter of 2025 with cash and cash equivalents and restricted cash of $155m. The company said like-for-like food and beverage margins at its houses improved compared with the first quarter of 2024. As previously announced, in December 2024 the company received a £1.4bn offer from a third-party consortium to take it private, which Soho House said it “continues to assess”. Chief executive Andrew Carnie said: “Our strong quarterly performance gives me confidence that our strategic priorities are resonating with our members around the world. We continue to elevate the Soho House member experience across our existing houses globally, and with new openings including Soho Farmhouse Ibiza this summer. Our operational transformation is starting to gain real traction and we’re seeing early signs of this in profitability, giving us further confidence in the potential that lies ahead of us.” Earlier this week, Soho House confirmed its delayed Manchester venue will now open in October. Soho House features in the Who’s Who of UK Hospitality, which is one of six databases exclusive to Premium Club subscribers. The latest edition features 907 companies. The companies, listed in alphabetical order, have their most recent results reported as well as broader information around Ebitda, plans and trading style available. The database merges Companies House information, interviews and other public information to provide an easy to reference and exhaustive guide to the sector. Email kai.kirkman@propelinfo.com today to sign up.