Re-opening of UK owner-operated sites
30 November 2020
This announcement contains inside information.
Escape Hunt plc (AIM: ESC)
("Escape Hunt" or the "Company")
Re-opening of UK owner-operated sites and digital progress
Escape Hunt, a global leader in the growing escape rooms sector, announces an update on opening plans for its UK owner operated estate following the end of the second period of UK Government nationally enforced lockdown.
The Board is pleased to confirm that the sites in England, other than those in areas designated 'tier 3' under the UK Government's Coronavirus tiered classification system, will re-open on 2 December 2020. The sites that will re-open are Basingstoke, Liverpool, Norwich, Reading and Oxford.
In addition, the Board is delighted to announce the formal opening of its newest site in Cheltenham. The fit out was successfully completed on time and within budget during November and will officially open its doors on 2 December. Cheltenham is the 12th owner-operated site in the UK, and 13th in the portfolio, inclusive of Dubai which re-opened on 20 October 2020 and continues to trade in line with expectations. Work on the fit-out in Watford, which will be the 14th owner-operated site, continues in line with plans.
Sites in Birmingham, Birmingham Resorts World, Bristol, Leeds and Manchester are in areas currently designated tier 3 and will remain closed pending changes to their respective local tier classifications. The site in Edinburgh, which is not subject to the tier system and was not previously forced to close is subject to revised rules in Scotland for which definitive guidance is not yet available.
As set out in its announcement on 4 November 2020, the Company shifted focus to its digital and remote play games during the lockdown and it is pleased to report strong progress. The business has seen a significant increase in the level of enquiries and bookings which have been helped by corporates seeking seasonal activities for their staff. The Board remains optimistic for the prospects for these digital and remote play games, not only in the run-up to Christmas, but also as a permanent feature of our portfolio.
Commenting on the site developments and recent trading, Richard Harpham, Escape Hunt's CEO said:
"We are pleased that much of our UK estate will be open from 2 December 2020 and are very excited to be opening our newest site at the Brewery Quarter in Cheltenham. The performances of both our recent openings in Norwich and Basingstoke give us cause for optimism for Cheltenham. Whilst the restrictions imposed by the tiered system mean life is not able to return to normal, the strong performance during the schools' half-term week in October, during which a number of sites were subject to the tier 2 or tier 3 restrictions in place at the time, provides a positive indication for prospects over the Christmas and New Year period. This will be further supported by the progress we have made with our digital and remote play propositions and we approach the future with cautious optimism."
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Enquiries |
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Escape Hunt plc Richard Harpham (Chief Executive Officer) Graham Bird (Chief Financial Officer) Kam Bansil (Investor Relations)
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+44 (0) 20 7846 3322 |
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Shore Capital - NOMAD and Joint Broker Tom Griffiths, David Coaten (Corporate Advisory) Fiona Conroy (Corporate Broking)
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+44 (0) 20 7408 4050 |
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Zeus Capital - Joint Broker John Goold Daniel Harris
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+44 (0) 20 3829 5000
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IFC Advisory - Financial PR Graham Herring Florence Chandler |
+44 (0) 20 3934 6630
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Notes to Editors
About Escape Hunt plc
The Escape Hunt Group is a global leader in providing escape-the-room experiences delivered through a network of owner-operated sites in the UK, an international network of franchised outlets in five continents, and through digitally delivered games which can be played remotely. Its products enjoy consistent premium customer ratings and cater for leisure or teambuilding, in small groups or large, and are suitable for consumers, businesses and other organisations. Having been re-admitted to AIM in May 2017, the Company has a strategy of creating high quality premium games and experiences delivered through multiple formats and which can incorporate branded IP content. (https://escapehunt.com/)
Facebook: EscapeHuntUK
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