Soho House & Co Inc. (NYSE: SHCO) is a global membership platform with a network of social spaces and experiences centered around its members, operating 45 Soho Houses and various other offerings across multiple countries. For the fourth quarter and fiscal year ended December 29, 2024, the company reported total revenues of $305.6 million, marking a 5.4% year-over-year increase. Membership revenues experienced a significant rise, reaching $109.3 million, which is a 15.6% increase compared to the previous year.

In-house revenues totaled $123.4 million, down 1.5% year-over-year, although the revenue per available room (RevPAR) showed a 1% improvement on a like-for-like basis. Other revenues accounted for $72.8 million, a 3.8% increase from the prior year, driven by growth in Soho Home, a key aspect of the company’s diversification strategy.

Soho House reported a net loss attributable to SHCO of $91.7 million, or $0.47 per share, which included non-cash foreign exchange losses of $51.6 million and non-cash impairment charges of $19.8 million. Adjusted EBITDA for the quarter reached $32.3 million, impacted by out-of-period expenses totaling $3.5 million related to prior years and $4.1 million concerning historical tax matters.

For the full fiscal year 2024, total revenues were $1.2 billion, a 7.0% increase year-over-year. Membership revenues rose to $418.0 million, reflecting a 17.2% increase. In-house revenues were flat year-over-year at $481.6 million, with RevPAR maintaining a 1% increase. Other revenues hit $304.2 million, up 6.2% year-over-year. The net loss for the fiscal year reached $163.0 million, or $0.84 per share, and included non-cash foreign exchange losses of $22.7 million and impairment charges totaling $38.5 million.

Adjusted EBITDA for the fiscal year disclosed an increase of 14.1%, climbing to $131.9 million from $115.6 million in the prior year. The company’s adjusted EBITDA margin remained stable at 11%.

As of the end of the fourth quarter, Soho House had 271,541 total members, with Soho House members increasing to 212,447, reflecting strong retention rates and new member intake. The company ended the fourth quarter with cash and cash equivalents of $156 million.

Soho House’s operations included the opening of three new locations in fiscal 2024, and the company remains focused on its strategic priorities in enhancing the member experience and operational efficiency.