Bowling operator Hollywood Bowl has reported record first-half revenue for the 2024 financial year.
In results announced this morning, the company announced first half group revenue of £119.2m, compared to £110.2m in 2023. It put this growth down to a successful execution of its domestic and Canadian growth strategy.
In its UK venues, like-for-like revenue grew by 1.3 per cent, while in its Splitsville centres in Canada it was up eight per cent.
The period saw it complete refurbishments of its centres in Watford, Stockton and Cardiff in the UK, while it also rebranded and refurbished a centre in Lincoln. It also continued its green initiative, installing solar panels on two further locations.
Optimisation of space and new game formats drove a 4.5 per cent increase in spend per game, while 90 per cent of its UK estate is now using string pinsetters. It also continued to diversify its entertainment offering, installing two more Puttstars mini-golf courses at Hollywood Bowl venues.
In Canada, the group continued its expansion, acquiring centres in Guelph, Ontario and Vancouver, British Columbia. Its first new build centre in Waterloo, Ontario, is due to be completed this month.
The company’s CEO, Stephen Burns, commented: “We are pleased to have welcomed so many families, friends and colleagues to our centres in the first half, demonstrating the continued demand for high-quality, family-friendly leisure experiences at affordable prices, particularly against the backdrop of higher living expenses.
“We continue to expect further, modest like-for-like growth, even with the very strong prior year comparative, as a result of our customer-led innovation and investment in our profitable growth strategy. We are confident in the outlook for Hollywood Bowl and in our ability to capture the longer-term opportunity to grow our estate to over 130 centres in the next ten years.”
