Private members empire Soho House, owner of the City of London’s Ned, reports swelling membership and revenues

Private clubs empire Soho House today reported a swelling membership base and turnover.

The firm, which launched the City of London’s Ned club alongside Sydell Group in April this year, today released its results for 2016.

Founded in London in 1995, Soho House now owns private members’ clubs across Europe and North America.

In 2016, its underlying core turnover was up 21 per cent to £273.6m and its earnings came in at £31.7m, up 23 per cent. Its figures were buoyed by a 23.9 per cent growth in membership globally to more than 69,000.

Soho House also today reported a strong start to 2017, with revenue up 28 per cent and earnings up nearly 60 per cent.

The group, which recently completed a £275m refinancing with Permira Debt Managers, has plans for a number of new houses, including the reopening of the Soho House in Greek Street in 2018.

“This is a strong set of results, showing that Soho House is on track with our plan for the next few years,” said founder and chief executive Nick Jones.

“Our aim is to be the only membership club with Houses all around the world, and our members are telling us they love being able to go to more and more places to stay and visit a Soho House.

“The business is growing because of demand from our members. Each House is very locally focused but part of a worldwide network.”

Read more: Soho House founder Nick Jones says the City is cool now