Strike! Ten Entertainment bucks hospitality trend with ‘record-breaking’ sales year
Bowling alley operator Ten Entertainment delivered a “record-breaking” year, with sales up almost 90 per cent on 2021 and 50 per cent on pre-pandemic levels.
The firm, which operates 48 bowling and social entertainment venues, reported a total sales increase of 87 per cent from 2021, in wake of the pandemic restrictions being lifted.
It also reported a 50 per cent increase on total sales compared to before coronavirus crippled the industry, which was almost 40 per cent up in like-for-like terms.
In “bucking the trend” for hospitality, Ten Entertainment opened a series of new centres across the country and invested heavily in 11 of its venues.
Amid the cost of living crisis, it also announced pay rises would be brought forward six months while price increases were avoided, to ensure the impact of inflation was offset.
Reporting its “strongest ever trading performance” in 2022, Graham Blackwell, chief executive of Ten Entertainment, said “it was a record-breaking performance”.
“Everyone has worked hard to continue to provide high quality family entertainment at affordable prices. We have been rewarded by strong sales growth compared to 2019, bucking the trend in UK hospitality and leisure and have even managed to grow against our record-breaking second half of 2021.”
Looking ahead to the next 12 months, the firm plans to announce a strategy for further growth, with Blackwell saying: “We know that there will be challenges this year, but with such a strong 2022 behind us and a proven track record, we are confident that we will continue to deliver an excellent experience and high-quality service.”
“Our winning formula of great value for money social entertainment makes us well placed to continue to deliver strong returns for our shareholders.”