Red Engine aims for 84 venues by 2030
The Flight Club and Electric Shuffle owner has said it aims to operate 84 venues around the world.
Red Engine, the hospitality group behind Flight Club and Electric Shuffle, has said it aims to operate 84 venues around the world within the next five years.
Following the release of its 2024 financial results, which saw a total revenue of £77.1m, Red Engine says it aims to open three-to-four owner-operated venues each year and its partners have a goal of opening at least four-to-five Flight Club venues per year.
Based on these numbers, over the next five years the hospitality group and its partners will aim to open an additional 45 venues, taking the total global estate to 84 by the end of 2030.
Its 2024 turnover was a 15% increase on 2023’s £66.8m. Red Engine’s sales combined with its franchise partners reached £118.3m. The company also expects to see EBITDA growth for this year. Its EBITDA for 2023 was £12m.
"Despite a year of pressures on the hospitality sector, we are really pleased with these results, particularly the last quarter, which delivered new records for every Red Engine owned site," says Ross Shepley-Smith, CFO at Red Engine. "This performance is a direct result of our strong partnerships and the dedication of our entire team, who have worked tirelessly to deliver exceptional experiences to our customers. It also highlights the resilience and strength of our brands, which continue to resonate with diverse audiences globally, and for that we are extremely proud."
Opening doors
The group will be opening two new Electric Shuffle venues within weeks of each other this summer – one located in London’s King’s Cross and the other across the pond in Chicago.
In addition to Electric Shuffle King’s Cross and Electric Shuffle Chicago, by year-end Red Engine will also open Flight Club Newcastle.
Since the beginning of the year, Red Engine’s franchise partners have opened Flight Club venues in Dublin, Washington D.C. and St Louis. Flight Club Philadelphia and a second Sydney venue are set to open later in the year.
"We still have to pinch ourselves daily when we think about the success that our brands have had over the past decade," adds Steve Moore, CEO and co-founder of Red Engine. "The upcoming launch of Electric Shuffle Chicago and King's Cross will take the number of Red Engine-owned venues to 23.
"Expanding our footprint is about more than just opening new doors, it’s about considered, strategic growth and ensuring that every new market is the right fit for that community and our brands. With each new location, we’re watching the global presence of our brands strengthen. We’re incredibly excited to see what’s next as we continue this journey towards making Flight Club and Electric Shuffle household names across the globe."
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