(Bloomberg) -- The owner of Soho House plans to open seven new houses as well as Ned restaurants in New York and Doha next year as the exclusive membership club recovers from the pandemic. 

Revenue at the company, Membership Collective Group Inc., rose 57% to $180 million in the third quarter, exceeding analysts’ estimates. The company reported a net loss of $76 million as it continued to invest in new venues. 

The wait-list to join the network, whose venues include the Scorpios Beach Club in Mykonos, grew once more last quarter. New location plans include the two Ned restaurants as well as a Scorpios in Tulum, Mexico, as travel resumes and some pandemic restrictions abate.

The shares rose 3.8% in early New York trading, paring the decline since the July listing to 11%. 

MCG, whose Soho Houses offer members a place where they can network, relax as well as eat, drink and sleep, is also seeking to generate more revenue with an interior decorating brand called Soho Home. 

To recruit and retain employees, the group said it raised salaries, compensating by increasing the prices of food, beverages and room rates.

MCG plans to open seven houses next year, with venues in Nashville and Mexico City. The first French house opened in Paris in a 19th-century building that was once the home of the family of the poet and artist Jean Cocteau this year. The opening of a house in Brighton, scheduled for this quarter, was delayed to the first quarter of next year.

 

 

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