The parent company of Soho House, the chain of upscale members’ clubs for celebrities and well-heeled young professionals, is to begin trading on the New York Stock Exchange today. It now has 119,000 members across 30 clubs around the world, with 59,000 people on the waitlist. (Nick Jones, the company’s founder and C.E.O., conceded that one thing had changed because of the pandemic. “I think, in Covid, we’re a bit out of practice staying up late.”)The company is betting that its business model has become even more attractive to public market investors. Jones likened MCG to Peloton, another luxury product that he said “helped with the narrative of recurring income.”

Source: New York Times July 15, 2021 11:03 UTC