Hollywood Bowl reports record revenues over past six months as families seek value-for-money entertainment

Hollywood Bowl has reported record revenues over the past six months as it benefited from families seeking value-for-money entertainment amid cost pressures.

The 10-pin bowling operator said it made £111m in group revenues in the six months to March 31, climbing more than a tenth compared with the same period the previous year.

Sales were driven up as the group opened two new centres in the UK, in Peterborough and Speke, and said a further two are set to be under construction later this year, adding to its 69 bowling and mini-golf venues across the country.

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The company has been working on refurbishing its venues including introducing “pins on strings” technology in its bowling alleys, which is in place in 75 per cent of its UK centres.

Hollywood Bowl has reported record revenues over the past six months as it benefited from families seeking value-for-money entertainment amid cost pressures.Hollywood Bowl has reported record revenues over the past six months as it benefited from families seeking value-for-money entertainment amid cost pressures.
Hollywood Bowl has reported record revenues over the past six months as it benefited from families seeking value-for-money entertainment amid cost pressures.

It has also seen visitors spend more money on snacks and sharer foods after introducing a more simplified food menu.

Hollywood Bowl’s boss said its venues have “huge” customer appeal at a time when many people are taking steps to cut back their spending.

Chief executive Stephen Burns said: “We are delighted with our record performance in the first half of the year.

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“Our improvement on what was already an impressive prior year reflects the huge customer appeal of our great value for money offer at a time when many consumers are being more selective with their time and money.”

He added: “We are excited about the significant growth opportunities ahead – our highly cash generative business model and insulation from cost of goods and energy inflationary pressures leave us well-placed to continue to expand and invest in our portfolio, both in the UK and Canada.

“We were thrilled to see so many families enjoying themselves at our centres during February half term and were pleased to welcome many more over the Easter break.”

The group has 10 entertainment centres in Canada, having acquired three venues in Calgary in February and with plans to open a new bowling centre in Ontario.

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It said it had a net cash position of £44.1m at the end of March, down from £49.6m at the same time last year, and added it was “mindful” of the ongoing economic backdrop.

The statement added: “The group's active refurbishment strategy and relentless focus on innovating to elevate the customer experience is driving further growth.

"The rollout of Pins on Strings is continuing at pace, with the total number of centres completed reaching 48. The group has made further progress towards the completion of its solar panel installation programme, with c.37 per cent of its UK centres completed or under construction.”