Hollywood Bowl has revealed higher sales as the leisure firm opened new centres and bookings were boosted by dynamic pricing.
The ten-pin bowling operator, which has 77 centres in the UK and 15 in Canada, said it continues to attract families looking for low-cost days out.
It reported record-high revenues of £250.7 million for the year to the end of September, up by nearly 9% compared with the previous year.
This was largely driven by it opening five new centres in the UK and two in Canada. Stripping out the impact of the new sites, sales rose by 1.3% compared like-for-like with the prior year, and at constant currencies.
Dynamic pricing also helped bolster revenues – which is when prices are changed quickly in response to demand, so can be higher or lower at different points during the day.
Pre-tax profits for the group nonetheless fell by 8.6% year-on-year to £46 million.
“Whilst the cost of living remains high, consumers continue to prioritise their spending on experiences as opposed to purchases,” the firm told investors.
Hollywood Bowl said it appeals to all age groups compared with newer competitors in the leisure space which are predominantly adult-focused and city centre based.
Its centres are typically in out-of-town locations like retail parks, and combine bowling alleys with amusements and food and drink.
A family of four can have a game of bowling for under £26 at peak times, with price rises kept below UK inflation, according to the business.
But it revealed that the average spend per game rose by nearly a 10th, with people splurging more on food, drink and amusements.
This came despite a 7.5% decline in the volume of games played this year compared with last year, which the company said was due to the hot summer affecting the indoor leisure sector as well as weaker consumer confidence this year.
Hollywood Bowl is targeting more new openings and said its plans to have 95 centres in the UK by 2035 were on track.
It also revealed that it was expecting its tax and wage bill to rise next year.
The company said that a revaluation of business rates will “wipe out” a reduction to the tax multiplier for hospitality and leisure businesses, and “therefore we will see an increase in business rates” in the next financial year.
Shares in Hollywood Bowl were rising by more than 3% on Tuesday morning.
