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Soho House takes its exclusive affairs publicINTL

Soho House takes its exclusive affairs public

Soho House, the exclusive chain of restaurants and private member clubs, is about to become a little less exclusive. The company announced it has filed to go public on the New York Stock Exchange via an IPO. The public listing would value Soho House at a cool $3b.

Soho House is based out of London and operates 27 bougie social clubs across Europe, Asia, and the United States. It looks like Soho House is betting on an imminent release of pent-up consumer demand for leisure and hospitality as 11 of its private member clubs remain closed due to COVID-19 restrictions.

Throughout the pandemic, Soho House has managed to retain over 90% of its paying members. Guess there’s something special worth sticking around for!

why it matters
Soho House's timing in going public appears impeccable as many travel and leisure stocks surge on news of COVID-19 vaccine rollouts. The world's largest hotelier Marriott (MAR) has seen its shares rise more than 18% since the beginning of the year while Airbnb (ABNB) is up over 40% since its big December IPO.