Soho House & Co operates a global network of 45 private members' clubs, called Houses, targeting creative professionals — writers, artists, filmmakers, designers, and founders. Each House combines a club, bar, restaurant, and typically bedrooms, gym, and spa. As of FY24, Soho House had roughly 212,400 members globally, with a waitlist of over 112,000. A US "Every House" annual membership costs approximately $5,200 and grants access to all Houses worldwide. Membership is curated by local committees and deliberately capped at mature Houses to preserve exclusivity. Soho House does no paid marketing for membership, relying entirely on word of mouth. The company earns revenue through two main streams: recurring annual membership fees and transactional in-house spending on food and beverage, bedrooms, spas, and events. Membership fees are paid upfront annually, creating a predictable recurring revenue base that is relatively insulated from softer consumer spending. Beyond the core Houses, Soho House generates revenue from Soho Home (an e-commerce interiors brand), Scorpios Beach Club (seasonal clubs in Mykonos and Bodrum), Soho Works (co-working spaces), and management fees from The Ned hotels and The LINE and Saguaro hotels. New Houses follow a multi-year maturation curve — unprofitable in year one, breaking even around year two, and ramping toward 40%+ house-level contribution margins at maturity. Soho House's expansion strategy centers on opening two to three new Houses annually under an asset-light model, where landlords fund most construction costs, reducing Soho House's capital outlay per opening to roughly $2M–$8M.