Soho House considers going public on the New York stock exchange, the pros and cons of ghost kitchens, and a luxury hotel is set to be constructed in space. All that and more in this week’s Five on Friday.
World’s first space hotel expected to open in 2027
Photo courtesy of Orbital Assembly
In six years, you might be able to check into a hotel orbiting the globe. Conceived by three-year-old space construction company Orbital Assembly, Voyager Station will begin construction in 2025 and is anticipated to be operational by 2027, reports the New York Post. The wheel-shaped structure will include 400 rooms, restaurants, a spa, cinema, gyms, libraries, and even concert venues. The California-based company also hopes to entice permanent stakeholders—like government agencies or landlords—to purchase portions of the hotel. Once gravity-related testing is completed, a robot will start to build Voyager Station’s frame while in low Earth orbit.
Dive right into a new underwater museum in France
Photo courtesy of Jason deCaires Taylor
British sculptor Jason deCaires Taylor has created the Underwater Museum of Cannes off the coast of Sainte-Marguerite island in France. According to Dezeen, the attraction comprises six large sculptures depicting fractured human faces that are permanently installed between six and a half and nearly 10 feet below sea level. The pieces, which each weigh more the 22,000 pounds, are made from PH-neutral concrete and feature a textured surface in order to attract marine wildlife. “The idea of creating an underwater museum was to draw more people underwater, to foster a sense of care and protection, and bring attention to the fact that our oceans need our help,” deCaires Taylor says.
Are ghost kitchens really all they’re hyped up to be?
Photo courtesy of Pixabay
During an exceedingly tumultuous year for restaurants, ghost kitchens have been praised as a way for eateries to survive and experiment—and are even touted as the future of the industry. But Grub Street is asking us to consider a different perspective. Staff writer Rachel Sugar has penned an article arguing that these dining room-free, app-driven concepts strip away what is best about eating, and they cannot possibly be a replacement for restaurants. “A restaurant is a small adventure. My food memory is a catalogue of restaurant experiences,” Sugar writes. “But for the last year, food I haven’t cooked myself has come from a container, and been eaten at my house. I remember none of it.”
Soho House takes a second look at going public
Soho House Amsterdam
Members-only club brand Soho House has enlisted Morgan Stanley and JP Morgan to assess the London-based company’s value in order to go public on the stock exchange. The potential New York stock market listing could value Soho House, which initially considered an IPO in 2018, at as much as $3 billon, reports Skift. Although the pandemic and its economic impacts continue on, travel analysts are feeling optimistic about the success of a luxury, members-only model. Between pent up demand for travel, a desire to associate with safe and familiar environments, and the increase in the number of professionals working from home, Soho House and other concepts like it may be poised for a bright future. “If you’re catering to the same client and basically following their walking or flying path, I think you’ll be absolutely fine in terms of growing globally,” says Gilda Perez-Alvarado, global CEO of JLL Hotels & Hospitality. The public filing for Soho House, which operates 27 clubs across the globe, could come as early as this month.
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Have you subscribed to What I’ve Learned yet? On our biweekly podcast, Hospitality Design editor in chief Stacy Shoemaker Rauen sits down with industry veterans and visionaries to delve into early beginnings, how they got to where they are today, and their greatest lessons learned. Launched in 2018, past guests have included Venus Williams, Bobby Berk, Tara Bernerd, Daniel Boulud, David Rockwell, and many more. The latest episode features EDG Design CEO and president—and 2021 Platinum Circle honoree—Jennifer Johanson, who discusses the importance of living boldly and how she balances creativity and strategy. Download and subscribe wherever you listen to podcasts.
