Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

New £275m debt for Soho House & Co will fund expansion

20 March 2017 by
New £275m debt for Soho House & Co will fund expansion

Soho House & Co has confirmed that it is on the verge of securing a £275m debt facility which will finance the expansion of the hospitality group over the next five years.

The new loan deal signed with Permira Debt Managers will provided reduced interest rate terms until 2022, enabling the company to repay £152.5m of existing bonds and £40m of high-interest payment-in-kind notes.

Soho House currently has 18 private members club (11 which double as hotels) and 16 restaurant brands worldwide.

The newly restructured debt will put the business on a sound footing to move forward with its expansion plans which includes the opening in May of the Ned, the UK's most ambitious hotel opening this year with 252 bedrooms and nine restaurants. Soho House has combined forces with US-based Sydell Group in a joint venture to launch the property on the site of the former headquarters of the Midland Bank in the City of London.

Further openings later this year are scheduled for Brooklyn, New York, and Mumbai, India; with launches set in London in the former BBC TV Centre in White City and in Greek Street during 2018. Other future international openings have been earmarked for Amsterdam, Hong Kong, Los Angeles and Austin, Texas.

Soho House & Co was founded in 1995 by Nick Jones (pictured), who was named Hotelier of the Year by The Caterer in 2015. American investor Ron Burkle acquired a 60% stake in the business for around £250m in 2012, while 30% is held by Richard Caring of Caprice Holdings and 10% by Jones.

New Year's Honours 2017: awards for Nick Jones, Mark Hix and Tony Singh >>

Hotelier of the Year 2015: Nick Jones >>

Nick Jones on the opening of Soho Farmhouse >>

Videos from The Caterer archives

http://jobs.thecaterer.com/jobs
Are you looking for a new role? See all the current hospitality vacancies available with The Caterer Jobs

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking