Soho House Expands into Latin America with Mexico City Opening

Introduction and Outline: Soho House Mexico City and Mexican Operations

I. Corporate Structure and Global Context within Soho House & Co Inc. (SHCO)

Soho House & Co Inc. (SHCO) is a global membership platform, headquartered in London, that manages physical and digital spaces for creative professionals. SHCO operates through its subsidiary, Soho House Holdings Limited. As a global enterprise, SHCO divides its operations into three reportable segments: United Kingdom, The Americas, and Europe and Rest of the World (RoW).

Mexico [1]'s Place in the Global Portfolio:

Soho House Mexico City (SHCDMX) is a critical milestone, representing the company's first physical House location in Latin America. Since the majority of SHCO's revenue is generated from The Americas segment, the expansion into Mexico is strategically important for continued growth in this high-performing region. SHCDMX is listed as the 42nd House [1] in SHCO's global collection (as of December 31, 2023).

Interlinked [1] Entities and Expansion Strategy:

SHCO uses its global network of 41 to 46 Houses and related brands (Soho Works, The Ned, Scorpios, Soho Home, Cowshed) to drive membership fees and in-house revenue.

Crucially for Mexico [1], SHCO uses its Cities Without Houses (CWH) membership platform to gather intelligence for future expansion. Mexico City had an existing base of CWH members before the House opened. The growth strategy, [1] particularly in Latin America, views CDMX as key: "if you get Mexico City right, you get the rest of Latin America right". [1]

II. Soho House Mexico City (Phase I): History, Construction, and Operation

1. Historical Context and Construction/Launch Process:

• Significance: SHCDMX was officially opened in September 2023, marking it as the first House to launch in Latin America.
• Location & Building [2]: The House is situated in the Colonia Juárez district, specifically at General Prim 55. It is set in a restored historic casa, described as a French-Baroque mansion from the early 20th century, which retained its original details such as carved stone, marble, carved wood, and fine ironwork.
• Design Philosophy [3]: The design team ensured the interiors blend the signature Soho House aesthetic with Mexican influences, incorporating locally made custom furniture and vintage pieces. The commitment to local culture extends to the art collection, which features more than 100 works from artists born, based, or trained in Mexico/the region.
• Launch Management [3]: Strategic communication for the launch, including aligning the global identity with the cultural and creative fabric of Mexico, was managed by the PR and Communications Manager. Pre-launch celebrations were planned for the local creative community.
• Management [3]: Bryan Benhaim is listed as the General Manager, Soho House Mexico City. Alicia Gutierrez is the Director of Membership for LATAM.

2. Local Operating [3] Model and Financial Structure:

• Arrangement Type: Soho House Mexico City (Phase I) operates under a Leased arrangement.
• Amenities: The [4] House includes a club space, 4 bedrooms (as of December 31, 2023), restaurants, bars (including a tequila bar), and features a pool, noted as the largest pool in the Americas.
• Membership & Pricing [4] [5]: SHCDMX offers membership starting at MX$12,250 quarterly (or MX$3,125 quarterly for Under 27 members). The annual cost was noted in July 2023 as 47,000 pesos, equivalent to approximately US$2,727.
• Financial Stability [5]: The project has shown strong early performance, as the EBITDA FY 2024 closed on budget, confirming the profitability and stability of the project. The Year-to-Date 2024 EBITDA was also reported as being on budget. [2]

III. Partnerships and Development Structure (Grupo Sordo Madaleno)

The documents clearly define the primary Mexican development partner, addressing your concern about whether Grupo Sordo Madaleno (GSM) is solely an architectural firm.

• Grupo Sordo Madaleno Partnership: SHCDMX is described as a joint venture partnership with Grupo Sordo Madaleno. Sordo Madaleno is cited both as the architecture firm involved in the design and development and as a key entity related to the property ownership.

• Developer/Owner Link [6]: The project is listed as an operating asset of FIBRA SOMA. FIBRA SOMA's corporate history documents confirm that Grupo Sordo Madaleno ("GSM") is a key real estate entity responsible for project development and operation. FIBRA SOMA's portfolio [7] lists Soho House CDMX as an operating asset where FIBRA SOMA holds a 33.0% share of the 12,000 sqm GLA. This confirms that [8] the involvement of Sordo Madaleno extends to the real estate and development structure (i.e., financing, ownership, and partnership) through GSM and FIBRA SOMA. [7]

IV. Future Expansion Plans in Mexico and LATAM

The opening of SHCDMX has acted as a catalyst for Soho House's commitment to expanding further into the Mexican and broader Latin American markets.

1. Soho House Mexico City [9](Phase II)

• Status and Timeline: Phase II is listed in the development pipeline under the use "Hotel / Club". It is currently being planned on the neighboring plot accessible from General Prim. The expected completion date is Q2 2026.
• Scope: Phase [9] II involves constructing a new four-story building.
• Capacity and Amenities [9]: It will offer 33 hotel suites. The total project capacity (Phase I and Phase II combined) is planned for 32 keys (Note: The number of keys is slightly inconsistent across source references, ranging from 33 suites/keys in the new building to 32 keys total and 73 keys originally planned). It will also feature an expansive wellness & fitness area intended to seamlessly complement the Phase I program.
• Design: Phase [9] II is also designed by Sordo Madaleno.

2. Other Mexican [9] and LATAM Pipeline Projects

• Soho House Los Cabos: This location is explicitly listed in the development program/pipeline.
  • An earlier project named "Soho House & Beach Club" Los Cabos, approximated at 70 keys, was contributed to FIBRA SOMA in 2021.
  • The property operates under [10] a dollar-denominated lease contract lasting up to 30 years with corporate guarantees.
  • The projected opening date for Soho House Los [10] Cabos is 4Q 2025.
• Scorpios Tulum: The company [10] is expanding its beach club concept, Scorpios, which currently has sites in Mykonos and Bodrum. Scorpios is expected to open another site in Tulum, Mexico, within the next 12 to 18 months (based on fiscal 2023 commentary).
• Cities Without Houses (CWH [11]) Expansion: Beyond Mexico City, the CWH platform is active in Oaxaca, Mexico. SHCO is leveraging the Mexico City experience to guide regional expansion into key cities such as São Paulo (which opened in June 2024), Buenos Aires, Lima, and Bogotá. Across Latin America, SHCO already [12] had 15 "Cities Without Houses" where it hosts events for prospective members prior to the Mexico City opening. [12]