PASSION, EXPERIENCE AND PURPOSE
RH is a publicly traded, global design and hospitality brand with $3.6 billion is fiscal 2022 revenues, $930 million in adjusted EBITDA and a market value of $7 billion. We have invested $1.4 billion developing over 40 design and hospitality projects over the past 10 years ranging from 30,000 to 90,000 square feet, with many in historically listed buildings, such as The Historic Museum of Natural History in Boston, The Historic 3 Arts Club in Chicago, The Historic Post Office in Greenwich, The Historic Bethlehem Steel Building in San Francisco, and the Grade 1 Listed Aynho Park, a 17th-century, 73 acre estate in the English Countryside.
We currently operate 18 restaurants, including two new live-fire concepts, plus a new Champagne & Caviar Bar opening at the New York Guesthouse in September. Concurrently we have 24 design and 26 hospitality projects in our development pipeline, including locations in Paris, London, Milan, Madrid, Montreal, Munich and Sydney opening over the next several years.
Our first RH Guesthouse, a new hotel concept for travelers seeking privacy and luxury opened last year in New York, with our second location currently under construction in Aspen, Colorado, which will include our first RH Bath House and Spa. Additionally, we have two private jets for global charter, RH1 a Gulfstream G650 and RH2 a Gulfstream G550, plus RH3, our luxury yacht that is available for charter in the Mediterranean and Caribbean.
Our strategy is to move the RH brand beyond curating and selling product to conceptualizing and selling spaces, by building an ecosystem of Products, Places, Services and Spaces that establishes the RH brand as a global thought leader, taste and place maker. The ecosystem is inclusive of the Company’s Galleries, Guesthouses, Restaurants and fully furnished luxury Residences. Our ecosystem enables customers to dream, design, dine, travel and live in a world thoughtfully curated by RH.
While RH certainly has the qualifications, experience and financial resources to bring our vision for One Ocean Drive, Miami Beach to life, we believe there is something meaningfully more important than merely being able to check the boxes on a 398-page RFP. Something you can’t see in all those pages, something that doesn’t show up on our balance sheet, and might not be obvious in a 30-minute Zoom presentation.
It’s our vision, values, beliefs and culture that bind us and drive us to think until it hurts, until we can see what others can’t see, so we can do what others can’t do. Those things we live for, would fight for and die for. One Ocean Drive, Miami Beach is not a financial choice for this team, it’s an emotional one. Born from imagination, passion and purpose. Those same things that enabled a nearly bankrupt business with a $20 million market value 20 years ago to become the leading design and hospitality brand in the world today.
One Ocean Drive, Miami Beach.
Arguably one of the best addresses in the world. Undeniably the best opportunity to make certain it becomes so.
If given the opportunity, we will leave no doubt.
Carpe Diem,
Gary Friedman, Chairman & CEO RH
ABOUT RH
RH (NYSE: RH) is a curator of design, taste and style in the luxury lifestyle market. The company offers collections through its retail galleries, source books and online at RH.com, RHContemporary.com, RHModern.com, RHBabyandChild.com, RHTEEN.com, and Waterworks.com