Hollywood Bowl enjoys revenue boost as wet weather brings people in
Hollywood Bowl Group has reported a revenue boost amid favourable UK conditions, as wet weather drove people indoors during the school summer holidays.
The ten-pin bowling operator, which opened a new centre in Merry Hill this year and has centres at Bentley Bridge, Wolverhampton and Shrewsbury, said total revenue was £215.0m, up 11 per cent compared to 2021.
In a trading update for the financial year ending September 30, it said group revenues were up 16.2 per cent compared to 2022.
UK total revenue was £192.6m, up 2.7 per cent on 2021 and 7.7 per cent against 2022.
Three new UK centres opened in 2023, including Merry Hill, with a further 15 centres targeted by the Group for opening before the end of 2026.
The company said UK trading was driven by 'a combination of strong demand for its high-quality, affordable, family-friendly offer and favourable UK weather conditions during the school summer holidays'.
It said it continues to demonstrate resilience to inflationary pressures, following the hedging of its electricity costs to the end of financial year 2024 and extensive programme of solar panel installations, with 27 centres now completed or under construction.
Stephen Burns, Chief Executive Officer, said: "I am delighted to report another period of excellent financial and operational performance.
"It has been fantastic to see so many families in our centres as they sought out fun, inclusive, affordable activities to keep their kids entertained throughout the year including during the unseasonal wet summer.
"I am very grateful to our dedicated team members who help our customers to enjoy the best experiences possible in our centres.
"The investments behind our expanding offer have increased our resilience during this uncertain economic period and when combined with our highly cash generative business model, means we are well-placed to continue our profitable, self-funded, growth strategy in both the UK and Canada.
"The long-term growth opportunity is significant, and we look forward to seizing this while continuing to provide high-quality, great value entertainment for families and friends."
