Since going public in 2021, Soho House – an upscale private members’ club frequented by A-listers, musicians, artists and other celebrity-adjacent individuals – has experienced a sharp decline in share value. The company has struggled to turn a profit despite growth in membership and revenue, according to Reuters.

Soho House plans to go private again after four years on Wall Street. The luxury members club operator has struck a deal with an investor group led by hotel giant MCR.

The New York-based hotel owner led a group of investors acquiring outstanding shares of the membership club company.