How difficult is it to get a Soho House membership?
To maintain just the right vibe, Soho House only accepts new members periodically, racking up waitlists that are reportedly tens of thousands of people long. To maintain just the right vibe, Soho House only accepts new members periodically, racking up waitlists that are reportedly tens of thousands of people long.Down the swanny. According to GlassHouse Research, Soho House had a “broken business model” with “questionable accounting”, and had expansion “into less affluent cities for revenue growth, the persistent lack of profitability, overcrowding, a perceived decline in service quality” to blame.The challenge for Soho House is that its focus on growth, to some members, feels like it comes at the cost of its exclusivity. Several members of its older clubs have said the quality of service has declined and that it appears to have gotten too easy to get in.It comes amid mounting worries over the financial health of Soho House, which has never made a profit in its 28-year history. The company posted a loss of $118m in 2023 despite a 17pc rise in revenues. It has also racked up debts of $638m as of the end of 2023, an increase from $532 in 2022.Our second quarter results reflect the strong appeal of soho house globally, with soho house membership growing 16% year-on-year and our waitlist increasing to approximately 111,000.