Soho House Fourth-Quarter Report Analysis and Growth Expectations for 2024
Friday, 15 March 2024, 18:38
Soho House misses the mark
Soho House's fourth-quarter earnings report revealed disappointing results, including a revenue miss and sluggish growth in hotel and restaurant revenue.
Key points:
- Revenue increased by 7.5% to $290.8 million, lower than estimates
- Membership saw a 19.7% year-over-year growth to 193,865
- In-house revenue rose by 3.8% to $125.2 million, signaling slowing demand
What's next for Soho House?
Management projects slower growth in 2024 but aims for improved profitability, with adjusted EBITDA targeted between $155 million-$165 million.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.