Business
Update on UK owner-operated estate
Update on UK owner-operated estate.
About this update from Xp Factory Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1599E\n Escape Hunt PLC\n 04 November 2020\n \n \n \n \n \n 4 November\n \n \n 2020\n \n \n \n This announcement contains inside information. \n \n \n \n \n \n Escape Hunt plc (AIM: ESC)\n \n \n \n \n \n (\"Escape Hunt\" or the \"Company\")\n \n \n Update on UK owner-operated estate\n \n \n \n \n Escape Hunt, a global leader in the growing escape rooms sector, announces an update on its UK owner operated estate in advance of the second period of nationally enforced lockdown announced by the UK Government and due to come into force on 5 November 2020 (\"Lockdown\").\n Progress on site roll-out\n Escape Hunt is pleased to announce that it has exchanged contracts for a site at the previous Intu centre in Watford. Contracts are expected to complete within the next week. The Watford site will be the Company's fourteenth owner operated site, after the Brewery Quarter in Cheltenham and the recent acquisition of the former franchisee site in Dubai.\n Games for the Watford site have been manufactured and are currently in transit for installation. Fit-out is expected to commence later this month and, under the guidance currently available, the Company does not expect any significant impact on timing as a result of the Lockdown.\n Fit-out at the Company's site at Brewery Quarter in Cheltenham is substantially complete and, subject to any further COVID-related restrictions, progress is not expected to be impacted by Lockdown. The site was due to open during November 2020 but will now open as soon as practicable once the Lockdown restrictions are lifted. \n Recent trading\n Revenue over the week beginning 26 October 2020 which coincided with schools' half term week, including the sales from new sites and digital products, was 25% ahead of the same period last year. On a like-for-like basis, the Company's eight mature UK sites traded at 96% of the 2019 level, despite four of the sites being adversely affected by either the Government's tier 2, tier 3 or the Scottish COVID-related restrictions. As previously announced, Basingstoke opened to the public on 29 October 2020 and initial trading has been the strongest in any of the Company's new sites to date. The other recently opened site in Norwich delivered sales usually associated with a fully mature site, despite it being only ...