Private members' club Home House today said it is defying the credit crunch, with a record number of new members signing up in the last three months of 2008.

The Marylebone club, owned by a group of private investors under the name Quintillion, predicts it will soon have to bring back a waiting list for prospective members.

Revenues rose more than 20% in December on 2007. Sales and marketing director Reece Williams cited more people using the club for meetings, having quit their offices to save money.

“We're a classic example of a business doing well despite the credit crunch,” he said.

Turnover has also benefited from a massive refurbishment programme, including a new bar that has been designed by Iraqi-born architect Zaha Hadid.

“We have seen the inevitable corporate withdrawal from the banking sector, but this has been more than offset by new members joining,” Williams said.

“We have plans in place which should help us to come out of the downturn in a very strong position.”