The epitome of exclusivity and luxury, private members’ clubs are witnessing a reboot of sorts in India–thanks to a new crop of young entrepreneurs, artists and professionals. The revival of interest in private members’ clubs started a few years ago but the trend gained pace during the pandemic. A sudden shift towards private events and small gatherings led to a boom in memberships and increased enquiries. With most people working from home, members-only clubs became a space merging work and leisure.
“Henry Wallmeyer, President and CEO of the National Club Association, whose members include 400 clubs like the prestigious Yale Club of New York City, New York Athletic Club and New York Yacht Club, quoted in BusinessInsider, “Everybody’s first place is their home, second is work and the third place is their personal refuge.” And this personal refuge for many is a private members’ club.”
Private members’ clubs are not new to India, and the country is dotted with clubs decades and even centuries old like the Delhi Golf Club and the Delhi Gymkhana Club. However, the majority of members of these clubs are industry leaders, senior bureaucrats and politicians. The upfront membership fees are steep and they have waiting lists stretching into years and generations. The newer lot of private members’ clubs occupy the other side of the spectrum.
The new age private members’ club includes restaurant and hospitality-driven concepts catering to the after-work crowd, as well as all-encompassing, lifestyle-driven places with amenities like swimming pools, wellness and fitness spaces, and suites for overnight stays.
One of the early starters in the sector, The Quorum defines itself as an “urban lifestyle club”. These new-age clubs appeal to a wide variety of individuals and are designed with aesthetics that appeal to the younger generation of moneyed individuals.
Members-only clubs are rightly targeting aspirational entrepreneurs, professionals and achievers as these segments are underrepresented at the older clubs but have the required resources to splurge on lifestyle choices.
With the unprecedented pace of wealth creation, India recorded one of the biggest jumps in the number of high net-worth Individuals last year to 3.08 lakh, as per a report by Capgemini, and these are now the target for the new generation of clubs.
The combination of a young aspirational population, rising wealth and a rapidly evolving social scene has acted as a tailwind for members-only clubs in India. The Quorum, which started from Gurugram in 2018, has expanded to Mumbai and has plans to enter two more cities.
Taking notice of the opportunity, international players have entered the market. Soho House, one of the most recognisable global brands that cater only to creative individuals like artists, writers, filmmakers and designers, opened its first Asian property in Mumbai four years ago.
Besides independent members-only clubs like The Quorum and Soho House, established hospitality players have also joined the bandwagon. The Chambers, the private membership club of Indian Hotels Co Ltd which is closely associated with their hotel brand Taj was recently launched after a major revamp. The club now takes up two floors at the prime Taj Mahal hotel in the capital and has been designed with modern aesthetics in mind. Similarly, global players like Four Seasons, Marriott and St. Regis too have launched luxury private clubs primarily targeting young achievers.
Memberships are rising at a strong pace, and the trend is not limited to India. Global megacities like London and New York are also witnessing new private club openings. From heritage buildings to corporate towers, members-only clubs are opening up at a quick pace.
While conceptualising a new luxury club, investors need to focus on the right location and the right planning to ensure differentiated offerings in terms of curated events, parties, dining and leisure options which will appeal to the target market.
Being in proximity to the business districts or airports can provide the access to the primary markets, which are essential in building a significant membership base, the fundamental requirement for ensuring that the club becomes a sustainable business.
Numerous club developments have been successfully handed over by Spectra Hospitality in India, including Quorum Gurgaon and The Estates Nandi Hills in Bangalore. Along with its current portfolio of opulent private members’ clubs, Spectra Hospitality is soon to announce some interesting club projects that will undoubtedly transform the Indian members’ club industry.