Subscriptions look to be delivering for Soho House - with a longer waiting list despite raised prices - who else will jump to the subscription model? With more dry powder than ever, investors are challenged to look for decent returns, often from operational real estate. (Don't forget our Operational Real Estate Festival - https://op-re.com) And as more hotel groups get to grips with reducing carbon, how will progress be measured, and the process take all participants forward together?