Further progress in UK owner-operated estate

RNS Number : 4631I

Escape Hunt PLC

14 December 2020

 

14 December 2020

Escape Hunt plc (AIM: ESC)

("Escape Hunt" or the "Company")

Further progress in UK owner-operated estate

Escape Hunt, a global leader in the growing escape rooms sector, announces further progress on its UK owner-operated estate.

The Board is delighted to announce that the formal opening of its newest site in Watford is now scheduled for 27th December 2020.  The fit out is progressing well and is expected to be completed on time and on budget.  The site at Watford represents a milestone as the games rooms have been constructed using our next generation designs which are fully modular. This modular design will enable the rooms to be moved and re-installed within the Company's estate at a later stage much more effectively and cost efficiently and also provides another delivery option to the franchise network. Watford will be the Company's 13th owner-operated site in the UK, and the 14th in the portfolio, including Dubai.

In addition, the Company has recently exchanged contracts on a large site in Kingston, with completion expected in early January. Modular games rooms for Kingston have already been produced and are currently in transit. The site is expected to open in Q1 2021 and will be our 15th owner-operated site.

Commenting on the site developments, Richard Harpham, Escape Hunt's CEO said:

"Despite tier 2 and tier 3 restrictions placing a significant strain on our industry at the moment, we remain encouraged by the performance of our estate when open, and are delighted with the progress being made with our digital propositions underpinning our 'Escape Hunt for Business' product strategy. Both aspects provide cautious optimism for our future prospects once restrictions are fully lifted, and it is exciting to be able to bolster our UK estate with a number of fabulous new sites which may not have been attainable 12 months ago."

Enquiries
Escape Hunt plc Richard Harpham (Chief Executive Officer)  Graham Bird (Chief Financial Officer) Kam Bansil (Investor Relations)	[phone]
Shore Capital - NOMAD and Joint Broker Tom Griffiths, David Coaten (Corporate Advisory) Fiona Conroy (Corporate Broking)	[phone]
Zeus Capital - Joint Broker John Goold Daniel Harris	[phone]
IFC Advisory - Financial PR Graham Herring Florence Chandler	[phone]

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

Twitter: @EscapeHuntUK 

Instagram: @escapehuntuk

 

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