The Soho House Group, London, announced on Friday that it sold a majority stake to Ronald Burkle’s privately held investment firm Yucaipa Companies, Los Angeles.
Soho House, which specializes in luxury private members’ hotels and clubs, will utilize the capital influx to expand internationally. It already has nine locations in the U.S. and Europe.
The New York Times reported on Friday from an anonymous source familiar with the matter that Burkle had purchased a 60% stake for about £250 million (US$383 million).