India’s Members-only Private Club Market Set to Touch Rs 941 crores by 2027: Report

May 3, 2024: As the Indian economy is thriving, there is a growing appetite for exclusive and premium business clubs. New age start-up owners, family business scion, corporate honchos, and creative geniuses now prefer exclusive spaces where they can hang out, network, and set deals.

There are popular Gymkhanas and Golf courses in Indian metros, which have been bastion of industrialists, business heavyweights, and political elites since independence. However, it takes nowadays many years to get their membership.

Alternatively, in business centers and CBDs, a new crop of members-only private clubs is thriving. As per the latest research by Axon developers done in partnership with SKYE, a hospitality consulting company, the current market size of the private members-only club is Inr 576 crores. By 2027, it can reach Inr 941 crores, growing at a CAGR of 17.8%. This includes renewal as well as one-time referral fees.

There are standalone clubs such as Quorum, BLVD, Jolies, Indus, Soho House, Discovery, etc. Meanwhile many mainstay hospitality players have also launched their flagship brands such as Chambers (IHCL), Privie (ITC), Belvedere (Oberoi), Modernist (Four Season), etc.

 “While business meetings in a curated members-only environ is an underlying theme in such clubs, their role goes beyond this. These new-age sanctums of maximalist lifestyle offer an integrated ecosystem comprising swanky meeting rooms & business lounges, members-only restaurants, bars & cafes, gyms, etc. They have a gamut of other superlative amenities such as luxury suites, art galleries, salons, gaming rooms, spas, international chefs, cigar lounges, wine bars, concierge, etc. Most of these clubs have a generous one-time fee alongside an annual charge that can range from Inr 1- 3 lakhs.” Quoted  Ankit Kansal, MD, Axon Developers.

In addition to business meetings and networking, these spaces are also used for slew of other activities such as closed-door retail, art galleries, talk shows, book reading events, hosting cocktails, etc.

The aggregate size of members only business clubs in India is 1.015 million sq ft, with a registered member of around 11,200. Since 2020, the total volume of registered members has grown by a CAGR 8.27%.

In terms of revenue and volume of registered members, Western region in India contributes to 53% and 42% respectively. Mumbai hosts a wide number of clubs such as SOHO House, Taj Chamber, Quorum, Modernist, Equus, Indus, Jolies, etc.

These modern spaces which are generally designed by marring old world aestheticism with neo-modernism will continue to rise in popularity. It will be the social haven for Indian elites with refined tastes and progressive ideas.

Memberships in these clubs are either through referral or by invite only. Apart from the financial standing, the membership is based on a few other critical criteria, such as overall accomplishments, past track record, and future vision. This naturally adds a sense of pride, making it a delectable choice among India’s new age business personas and aspirational entrepreneurs” Added Taran Chabra, Director & Co-Founder, Skye Hospitality.