Friday, September 9, 2022

The LA Times looks at new private clubs in Los Angeles and San Francisco

LAT has lots of photos:

The [Britely] Sunset Strip establishment charges $2,900 a year for access to its two members-only Wolfgang Puck restaurants


After a two-year COVID price freeze, Soho House raised its “Every House” annual membership to $4,000 in February, a double-digit percentage increase to help it manage inflation. ... Soho House has yet to turn a profit after 27 years, reporting a loss of $82 million in the second quarter. Its shares, which began trading at $12 a year ago, have fallen to $5.95; the company is currently valued at $1.16 billion.


When the Aster debuted, it did so with what appeared to be a pointed dig at Soho House...“We’re the exclusive inclusive club”


One members-only club that is fully owning that it isn’t for everyone: NFT-based SHO Club, scheduled to open in San Francisco next year. ... The most expensive [membership level] will be capped at 20 people who will pay a one-time fee of $300,000 via fiat currency or Ethereum and “receive ownership-like benefits” ... “We’re not suggesting that an exclusive membership can’t coexist with humility.” ... “It’s actually a Japanese farmhouse cooking methodology,” [the founder] told a group of journalists, gesturing to a series of renderings. “This is really inspired by what you would call the commoner.”