Revenue boost for Hollywood Bowl ahead of planned Merry Hill venue
Ten-pin bowling operator Hollywood Bowl says work is commencing on its new site at Merry Hill – as the company revealed revenue rose by nearly 11 per cent year on year.
The company, which has sites at Bentley Bridge, Wolverhampton and Shrewsbury, reiterated its expansion plans as it announced group revenue of £111.1m in a trading update for the six months ending March 31.
That was a rise of 10.9 per cent compared to the same period last year.
The company said: "Hollywood Bowl's continued strong trading in the first half of the year demonstrates the attractiveness of its high-quality and excellent value for money offer, which appeals to customers looking for inclusive leisure experiences to enjoy together.
"The Group has continued to execute successfully against its new centre openings strategy. In the UK, Hollywood Bowl Speke and Puttstars Peterborough both opened in the first half of 2023 and are trading ahead of management's expectations.
"Two further new UK centres are set to commence construction– Hollywood Bowl Merry Hill and a combined Hollywood Bowl/Puttstars offering in Colchester."
Stephen Burns, Chief Executive Officer, said: "We are delighted with our record performance in the first half of the year.
"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.
"Our team members have been working tirelessly to deliver the best possible experiences for our customers and I am proud of the way they have stepped up. We are a people-focused business and a key priority for us is to support our teams, allowing them to thrive and develop their careers.
"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, leaves 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."
