Owling Alley operator Ten Entertainment has revealed that customers are turning to more nights out that are “affordable” and have “broad appeal” as finances have gradually come under pressure from the cost of living and crisis. more challenging times lie ahead.
In its half-year results for the 26 weeks to June 26 this year, the British company that operates 47 bowling and family entertainment centers posted revenue growth of 52.6% compared to pre-pandemic trading in 2019 with a 19.5% sales growth in the six weeks since May 16 this year, a period during which UK locations opened to the public without restrictions†
The company said it had said it had “deliberately” kept its entertainment prices at 2019 levels and also “managed” its food and beverage prices.
Ten said it is aware that the rise in the cost of living in the second half of the year would impact its customers, but that it determined to keep value for money at the heart of its offering. However, the company added that it remained “very confident” that its model was well positioned to continue to deliver record growth that exceeded current expectations.†
Graham Blackwell, CEO of Ten Entertainment, said: “Despite the challenging times ahead, we have a model that has broad appeal. We provide a place to eat, drink and play for families and friends to enjoy. We offer something for everyone and make every effort to keep the price of our family entertainment centers affordable.
“Our family entertainment proposition remains valuable to our customer. We have a winning formula in a post-Covid market. We have significantly outperformed the leisure and hospitality sector and are confident to achieve a record result this year†