Strong results for Soho House despite cautious spending environment

Robyn Duffy, Consumer Markets Senior Analyst at RSM UK, comments on today’s results from Soho House: “Soho House’s strong second quarter performance underscores the enduring appeal of its membership proposition and the strength of its global expansion strategy - both of which continue to drive consistent growth in members and revenues.

“More broadly, the results highlight a notable trend within the hospitality sector. While parts of the industry remain challenged by economic uncertainty and shifting consumer behaviours, brands like Soho House are somewhat insulated. Its appeal to a more affluent, experience-driven customer base, combined with signs of growing confidence among younger consumers, is helping to sustain demand even in a more cautious spending environment.

“That said, access to capital in the industry is increasingly challenging, as well as having to navigate the increase in staff costs and rising inflation. Soho House is tackling this through managing costs and growing margins, and therefore, running the business more efficiently and profitably.

“With a strong pipeline of new Houses, ongoing investment in member experience, and a clear focus on operational efficiency, the group is well positioned to deliver further growth and margin improvement throughout the remainder of 2025.”