XP Factory, the company behind Boom Battle Bar and Escape Hunt, has reported soaring demand for its novelty bars and activity centres in the final four months of its financial year
Brits are increasingly drawn to novelty bar activities such as axe throwing, mini golf and escape rooms, especially as the end-of-year season approaches, according to bar chain XP Factory,
The company said it has “record advance bookings” between now and the end of 2024, after revenue more than doubled in the 15 months to March 31 to £57.3million. XP Factory operates two brands of experiential entertainment: Boom Battle Bar and Escape Hunt.
The former offers activities like shuffleboard, beer pong, axe throwing, “crazier” golf and karaoke, while the latter provides themed escape rooms. At its Oxford Street London location, the company charges £50 for a half-hour session of axe throwing for six people, and £10 per person for its crazy golf activity.
Richard Harpham, chief executive of XP Factory, described it as an “exceptional period of growth”. He said, “Our focus on incremental improvements alongside ongoing expansion in the estate has helped deliver market leading returns on investment in both our brands and strong operating cash generation.”
He added, “Since the period-end, we have continued to see positive like-for-like growth and performances well ahead of the industry as a whole. With record advance bookings for the busy end of year season and improving consumer sentiment, the board’s expectations for the full year are unchanged and we continue to view the prospects for the business with optimism.”
Last year saw the opening of three new Boom sites in Dubai, Canterbury and Southend. The company reported an operating profit of £1.9million, which was £7million ahead of 2022, and it also managed to increase its cash reserves to £3.9million.
