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‘Soho House is over. I only go when everything else is shut’

Once the epitome of cool, celebrities like Taylor Swift, Justin Timberlake, Jessica Biel and Leonardo DiCaprio hung out at its rooftop pool, and it was first championed by the ladies of “Sex and the City.”

But Soho House is “facing an existential threat,” according to a damning report from Wall Street short sellers who are betting the company’s stock price could go to zero.

To make matters worse, more than a dozen New Yorkers interviewed by the Post said the situation is dire. Clubs that cost up to $5,163 a year are now lame.

“The vibe is off. Most are crowded and the scene feels oddly anti-creative,” one New Yorker in the fashion industry, who spoke on condition of anonymity, said of the current clubs. .

“You need a flare to get the waiter’s attention,” another music industry insider said of the ability to order cocktails that cost more than $20 a pop.

Another source working in politics suggested a late-night drink at a Meatpacking joint to meet a young woman of questionable taste, saying, “She’s far from a bastion of culture, and she’s not that basic herself.” “I called it something like that.”

“I have a friend who is a bank analyst and he still loves music,” the music industry source added. “But he’s a financial guy, so he doesn’t really know what’s cool.”

Taylor Swift and Julia Roberts attended a party at the club’s Toronto location in 2013.
The Meatpacking District location was part of Soho House’s appeal, but dissatisfaction among members now focuses on service and a lack of celebrity sightings. Steven Yang

A new threat to the company’s finances came from Wall Street research firm Glass House earlier this month, when short sellers said the company’s stock could eventually become worthless.

Following the prediction, Soho House, which is listed on the New York Stock Exchange, said it could be taken private by its controlling shareholder, billionaire film producer Ron Burkle. It also rejected Glasshouse’s report, citing its many inaccuracies.

Upper-class New Yorkers have despised Soho House for years, but it hit a new low after the company went public in 2021 and prioritized profits.

The members club requires aspiring members to submit an application and register existing members as referrals, and participation has swelled to more than 100,000 during COVID-19. .

Rihanna was spotted leaving lunch at Meatpacking Soho House in 2009. Freddy Baez/startraksphoto.com
Sex and the City put Soho House on the American map when they filmed scenes at the Meatpacking location before the club opened in 2003.

With a total of 255,363 members worldwide as of the end of 2023, long-time members say the club’s aura of exclusivity has disappeared.

Although the Glass Houses have not destroyed the cities where most of the new members live, New Yorkers find themselves bearing the brunt of the Hoi Polloi invasion.

As one member tells it, at the same time Soho House “opened the floodgates,” New York was home to some shiny new, ambitious clubs, including ZZs, Zero Bond, Casa Cipriani, and Aman. opened, creating a sharp contrast between what was trendy and what was not.

In December 2023, Soho House announced that it would stop accepting new members in New York, Los Angeles, and London because the locations were too crowded and service was degraded. But New Yorkers are skeptical that this will revive the club.

Soho House’s distinctive interiors, once the home of celebrities and darlings, are now lacking in buzz, members say.
Dumbo House is Soho’s House’s only Brooklyn location, which opened in 2017, and is New York City’s newest location. soho house
Soho House’s Lower East Side location opened in 2016 and is often used as a party venue. Memory/BFA.com/Shutterstock

One member suggested that the old base needs to be “completely updated and cancel all the members we took in during the coronavirus pandemic.”

“Reducing members will help the brand, but it will hurt profits…The business model looks broken,” a director at Glass House Research, the company that produced the report, told the Post. Ta.

And despite allowing the hordes to invade, Soho House remains unprofitable.

While the majority of those interviewed by the Post were quick to pan out Soho House locations in New York’s Meatpacking District, Lower East Side, and Brooklyn’s Dumbo, European locations were not worth the price of admission and membership. He pointed out that there is.

Cindy Crawford threw a party at Soho House in 2009 and used it to launch her own fashion line. Marion Curtis/StarPix
Paris Hilton attended the 2007 pre-Oscar party at the club’s LA location. John Shearer/WireImage.com

One person in the marketing industry explains that Soho House is “dead domestically, but is on fire internationally,” and that the European spot is the reason he keeps his membership. explained.

“It’s great to have one global membership instead of a patchwork network of expensive, niche memberships.”

“If you go to Soho House in London, you’ll see real A-listers like Harry Styles having lunch,” said a member of the media who visited the London and New York locations. “Nobody here is memorable at all if you wait 30 minutes for a drink.”

Soho pushed back, telling the Post it was committed to satisfying its New York members.

“New York has been our home for more than 20 years, and that decision was member-driven, which is why we remain here today,” a spokesperson said.

“Thanks to their loyalty and support, we’ve opened three Houses in the city, weathered uncertain times including two recessions and a pandemic, and brought the Soho Farmhouse-style experience to upstate New York. I am designing.

“Saturday Night Live” star Jason Sudekis, who was recently divorced at the time, went on a date with January Jones to Soho House in 2010. AMC Getty Images
Prince Harry and Meghan Markle’s engagement was the culmination of a relationship that began at Soho House in London and was pursued at their Toronto branch. AFP (via Getty Images)

“The most important thing to us is to make our New York members happy. Soho House is their second home, and we strive to give them the best possible experience at the house. ”

Soho House opened in 1995 with just one location in London. Since then, nine more stores have opened in London.

Its other European locations, which opened in Paris and Copenhagen in 2022, Rome in 2021, Mykonos in 2020 and Barcelona in 2016, feel fresher than its underperforming domestic peers, the source added.

The club’s expansion into second-tier cities such as Toronto, Chicago, and Charlotte further questions its exclusivity.

Meghan Markle went on her first date with Prince Harry on location in London, but she spent more time on location in Toronto during her time on the TV show “Suits.”

When Kim Kardashian and Kanye West first started dating, they partied at Soho House in the Meatpacking District. However, the trending buzz coincides with the end of their relationship. GC images

However, it is unclear whether Soho House’s detractors will actually have their memberships revoked.

One tech industry insider said the club was “uncool,” but acknowledged it was “convenient” because it offered a venue other than Starbucks for daytime meetings and was close to his apartment.

Other New Yorkers said they were genuinely enthusiastic about the club.

“I’m a creative director and I love it because it’s a chance to network…and there’s a lot of fun parties,” said the Soho loyalist.

“I think of Soho House as an extension of my living room,” said one member of the group for more than 20 years. “There’s an immediate sense of community and it feels like there’s always somewhere to go.”

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