Staycations in the United Kingdom have boosted the profits of two UK leisure firms, with the Hollywood Bowl and The Brighton Pier Group reporting increased summer demand.
Following the relaxation of the Covid-19 limitations in May, the UK’s largest tenpin bowling operator reported “excellent trading” over the school holidays. When compared to the same period in 2019, before the pandemic, income increased by 50% to £20.1 million in August.
Meanwhile, the owner of Brighton Palace Pier and other UK attractions announced that income had increased as well.
When compared to the same period last year, net revenues at Brighton Pier Group increased by 145 percent to £16 million in the 13 weeks between June 29 and September 26. Net revenues were up 44% compared to the same time in 2019 before the epidemic.
Annual earnings at the Hollywood Bowl were nearly wiped out when socialising limitations prompted the operator to cancel venues and lay off employees. When the bowling centres reopened in May, however, the operator reported that demand had immediately rebounded.
“It’s been great to see families and friends enjoying their time in our bowling and mini-golf centres again,” said Hollywood Bowl chief executive Stephen Burns.
The company claimed it was on pace to meet its objective of 14 to 18 additional bowling centres by 2024, with net cash of £30 million at the end of the fiscal year 2021.
In the aftermath of the pandemic, landlords were looking for experienced operators, according to Burns, who stated that the purchase of new properties had quickened.
“With its latest trading report, Hollywood Bowl has registered a strike,” said Russ Mould, investment director at AJ Bell. “Revenue has significantly surpassed pre-Covid levels by a significant margin since the network reopened in May, boosted by people enjoying their holidays in the UK amid a relatively wet summer.”
