Hollywood Bowl revenue hits record high despite lower game volume

Hollywood Bowl has reported a surge in revenues, reaching a record high of £250.7 million for the year ending September, a nearly 9% increase. This growth was primarily fuelled by the opening of five new UK sites and two in Canada. Stripping out these new additions, like-for-like sales still registered a 1.3 per cent increase at constant currencies. The company implemented dynamic pricing, a strategy that adjusts costs in real-time based on demand, to help endure falling ten-pin demand during the summer's record heatwaves. Despite these revenue gains, pre-tax profits for the group experienced an 8.6 per cent decline year-on-year, settling at £46 million. The volume of games played declined by 7.5 per cent this year compared with last year, which the company attributed to the hot summer affecting the indoor leisure sector as well as weaker consumer confidence. Hollywood Bowl continues to position itself as an attractive option for families seeking affordable days out, with centres typically in out-of-town locations like retail parks. A family of four can have a game of bowling for under £26 at peak times, with price rises kept below UK inflation. The average spend per game rose by nearly a tenth, with people spending more on food, drink and amusements. Hollywood Bowl is targeting more new openings and said its plans to have 95 centres in the UK by 2035 were on track. The company also revealed that it was expecting its tax and wage bill to rise next year due to a revaluation of business rates.