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Hollywood Bowl Revenues have surged to record highs, As leisure operators expand their footprint and take advantage of dynamic pricing strategies.
ten-pin bowling Vishal, which now has 77 centers UK And its revenue in Canada rose nearly 9 percent to £250.7 million in the year ending Sept. 15.
This growth was primarily driven by the opening of five new sites in the UK and two in Canada.
Excluding these new additions, like-for-like sales at constant currencies still registered an increase of 1.3 percent.
To further increase its income, the company implemented dynamic pricing, a strategy that adjusts costs in real time based on demand.
Despite these revenue gains, the group saw its pre-tax profits fall by 8.6 per cent year-on-year, to £46 million.
The Hollywood Bowl is establishing itself as an attractive option for families looking for affordable days out.
“While the cost of living remains high, consumers are prioritizing their spending on experiences rather than purchases,” the firm told investors.
Hollywood Bowl said it attracts all age groups compared to newer competitors in the leisure sector that are primarily adult-focused and based in the city center.
Its centers are usually in out-of-town locations such as retail parks, and combine bowling alleys with entertainment and food and drink.
According to the business, a family of four can play a game of bowling for less than £26 at peak times, while price rises will be kept below UK inflation.
But it showed that average spending per game increased by almost 10%, with people spending more money on food, drinks and entertainment.
This came despite a 7.5 percent decline in the volume of games played this year compared to last year, which the company said was due to the scorching heat that affected the indoor leisure sector this year, as well as weak consumer confidence.
Hollywood Bowl is aiming for more new openings and said its plan to open 95 centers in the UK by 2035 is on track.
It also revealed it expects its tax and wage bills to rise next year.
The company said the revaluation of business rates would “eliminate” the reduction in the tax multiplier for hospitality and leisure businesses, and “we will therefore see an increase in business rates in the next financial year”.
shares The Hollywood Bowl was up more than 3 percent Tuesday morning.