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Big changes for Soho House as it expands, changes its name, and prepares to go public

May 11, 2021
3 min read
Big changes for Soho House as it expands, changes its name, and prepares to go public
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Members-only Soho House -- known for its core business model of selling access to its private, club-like consortium of international properties to a trend-setting clientele -- is changing its name to Membership Collective Group as it gets ready to go public on the New York Stock Exchange (NYSE), according to Sky News.

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Soho House Istanbul 2013. (Image from The Points Guy archives)

What does this mean for travelers who are fans of the clubby members-only accommodations and restaurants in spots like New York, Berlin and Istanbul?

If you're already one of the 100,000 Soho House members, Sky News says that the company is said to be working on a share offer enabling its members around the world to "subscribe for stock up to a specific threshold likely to be several thousand pounds."

Related: Soho House Berlin

Although pricey memberships that run several thousand dollars grant you access to properties and the ability to reserve rooms (either local or international, depending on your buy-in level), there's often the ability to book accommodations directly with the properties. We did this at the bucolic Soho Farmhouse Oxfordshire by inquiring directly with the property through the website (being flexible with your dates helps snag a reservation). So you may be able to check in, and check out what the new financial arrangement and name change means for yourself sometimes soon.

Related: Soho House Istanbul

Otherwise, sit tight. Soho House/Membership Collective Group, which currently boasts 27 properties in 10 countries, is opening several more properties soon in Austin, TX, Paris, Rome and Tel Aviv.

(Photo courtesy of SoHo House New York/Facebook)

The company is expected to trade under the ticker "MCG" and is anticipating a valuation of somewhere between $3- $4 billion according to who you ask. Business Insider suggests a three billion dollar valuation and talks about what a huge "windfall" this will be for company founder Nick Jones. Sky News reports it could see a valuation as high as $4 billion.

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Related: Soho House New York

The company received initial financial support from JPMorgan Chase & Co. and Morgan Stanley. And Sky News reports that the "finishing touches to its initial public offering (IPO) are being applied weeks after Goldman Sachs placed a big bet on the company's growth," providing a $770 million loan to help accelerate its expansion.

Featured image by I spent an afternoon out by the pool working.
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
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10XEarn unlimited 10X miles on hotels and rental cars booked through Capital One Travel
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    Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel

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    Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

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Why We Chose It

The Capital One Venture X card is one of the best all-round travel credit cards ever launched. Not only is it offering a tremendous welcome bonus, but cardholders can earn tons of miles on everyday spending and receive a 10,000-mile anniversary bonus to boot. Its annual fee is $395, but cardholders can count on up to $300 in statement credits toward travel booked through Capital One Travel each year and other valuable benefits like access to Priority Pass lounges and Capital One’s own growing family of airport lounges.

Pros

  • Excellent welcome offer worth 75,000 miles after you spend $4,000 on purchases in the first three months.
  • Up to $300 in annual travel statement credits toward bookings make through Capital One Travel.
  • 10,000 bonus miles (worth $100 toward travel) each account anniversary.

Cons

  • The $395 annual fee might be expensive for some, but this card’s benefits provide much more value than that.
  • If you don’t travel frequently, this might not be the best card for you.
  • Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
  • Receive up to $300 back annually as statement credits for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of options
  • Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
  • Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel
  • Earn unlimited 2X miles on all other purchases
  • Unlimited complimentary access for you and two guests to 1,400+ lounges, including Capital One Lounges and our Partner Lounge Network
  • Receive up to a $100 credit for Global Entry or TSA PreCheck®
  • Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
  • Named editors' choice for "Best New Credit Card of 2021" by The Points Guy
  • Earn 10 miles per dollar when you book on Turo, the world's largest car sharing marketplace, through May 16, 2023