New-age private members-only clubs are thriving all over India across the CBDs and other prominent commercial catchments. Currently, there are more than 25 operational clubs in the country offering opulent, exclusive, and private spaces to socialise, network, and set deals.
Clubs are not new in this country, as most of the metros have their own gymkhanas and golf courses. However, it is often a herculean task to get their membership, as waiting can take many years. This has necessitated the need for alternate platforms for India’s progressive business elites, corporate honchos, and start-up owners to network in an exclusive and curated environment.
In the past five years, a large volume of private clubs has cropped up all over the country. On one hand, there are independently run clubs such as Quorum, Jollies, Indus, BLVD, Discovery, etc., and on the other, there are specialised spaces run by mainstay hospitality companies, such as Chambers (IHCL), Modernist (Four Season), Privie (ITC), and Belvedre (Oberoi).
A complete ecosystem
These new spaces offer a complete ecosystem with swanky meeting rooms and business lounges, exclusive restaurants, techno gyms, gaming rooms, cafes, and much more. Many private clubs have other superlative services such as spas, wine bars, concierges, exclusive cigar lounges, art galleries, etc.
Well-heeled Indians are increasingly flocking to such places to meet other people of their tribe and express themselves. While business meetings are one of the key themes, these social sanctums of maximalist lifestyle are also perfect places to host private cocktail parties, informal hangouts, closed-room retail shows, book launch events, social debates, art shows, etc.
Membership is given on a referral or invite-only basis. Apart from financial status, membership is based on a wide range of criteria, such as accomplishments, past track record, and future vision. This naturally adds a sense of pride.
Market size
Recently, SKYE consultancy carried out research on members-only business clubs in India in partnership with Axon Developers, a real estate firm specialising in concept real estate.
As per the research, the size of the members-only business clubs in India is INR 576 crores and is slated to reach INR 941 crores in 2027, growing at a CAGR of 17.8%.
The category will continue to thrive as it will be the go-to place for tech honchos, start-up owners, media mavens, and business personalities to visit, unwind, and network in privately managed exclusive groups.
As the Indian economy is expanding and the volumes of affluent individuals are sharply rising, the demand for exclusive spaces such as private clubs will grow further. India has around 797,000 HNIs in 2022 and is set to reach 1.65 million in 2027. Likewise, the number of ultra-HNIs is set to cross 19,000 in the same time period. This is indeed a positive impetus for concept-driven spaces and ideas that can match with the growing aspirations of Indian business and power fraternity.
Key takeaways from the research
Mentioned below are some of the key takeaways from the research:
By 2027, the total market of private members-only business clubs in India is slated to reach INR 941 crore, growing at a CAGR of 17.8%.
The segment is run by both big hospitality players such as ITC, Taj Chambers, Oberoi, and St. Regis Equus, as well as new non-hospitality club operators such as Quorums, BLVD, Indus, Jolies, etc.
Currently, the total area of the members-only clubs is around 1.015 million square feet. There are close to 25 operational clubs in India. In the next three years, five or more new clubs are expected to join.
As per our research, there are around 11,220 registered members in these clubs in India. The membership is growing at a CAGR of 8.27%. In 2020, there were 8164 members.
West (especially Mumbai) is the biggest market for the members’ only business clubs and contributes 42% of the segment (in terms of surface area). In terms of revenue and volume of registered members, West contributes 53% and 42%, respectively. Mumbai hosts a wide range of projects, such as SOHO House, Taj Chamber, Quorum, Modernist, Equus, Indus, Jolies, etc.
