Soho House, the private members’ club synonymous with celebrity exclusivity, has been bought for £2 billion ($2.7bn) in a deal that will return it to private ownership — and bring Hollywood star Ashton Kutcher onto its board.

The takeover is led by MCR Hotels, the third-largest hotel group in the US, with backing from private equity giant Apollo. Existing shareholders, including Soho House founder Nick Jones, restaurateur Richard Caring, and other long-term investors, will keep their stakes.

Founded in 1995 above Jones’ Café Boheme in London’s Soho, the club has since expanded to 46 “Houses” worldwide, from London and New York to Bangkok and Mykonos. Known for its celebrity members — from Kate Moss and Kendall Jenner to Prince Harry and Meghan Markle — Soho House has built its brand as a hub for “like-minded creatives” to socialise, work, and relax.

But in recent years, the company has struggled to balance growth with exclusivity. After floating on the New York Stock Exchange in 2021, its shares slumped from a peak of $14.21 to less than $9, reflecting investor scepticism about whether the brand could maintain its cachet while expanding at pace.

Critics argue the rapid opening of new venues, along with looser membership rules — shifting from “for creatives” to “creative-minded” — diluted the Soho House aura. Membership fees remain high, running into thousands of pounds annually, but some insiders felt the experience no longer matched the price tag.

With the new deal, Soho House hopes to regain its allure. Ashton Kutcher, an active investor in tech and hospitality ventures, will join the board alongside MCR chief executive Tyler Morse, who praised Soho House’s ability to “bring together cultures from around the world into a global network.”

Four new Houses are already in the pipeline, and executives hint at further ventures beyond clubs — from beach clubs like Scorpios in Mykonos to potential moves into film and entertainment, aiming for a Disney-style brand ecosystem.

Still, analysts warn that a famous face on the board won’t be enough. Susannah Streeter of Hargreaves Lansdown cautioned that “celebrity stardust” alone cannot guarantee long-term stability, pointing to challenges across hospitality as consumer spending tightens.

For founder Nick Jones, though, the return to private hands signals optimism: “This reflects the strong confidence our shareholders have in the future of Soho House,” he said, promising to remain “guided by our members and grounded in the spirit that makes Soho House so special.”

Whether Kutcher and the new owners can restore the balance between scale and exclusivity may decide if Soho House remains the club everyone wants to get into — or just another upmarket hospitality brand.