London Big Bus Tours operator slashes loss as sales accelerate

The group that operates London Big Bus Tours cut its pre-tax loss by more than $50m (£38.5m) during its latest financial year.

Big Bus Tours Group has posted a pre-tax loss of $31m for the 12 months to 30 April, 2024, having made a loss of $82.4m in its prior year.

Newly-filed accounts with Companies House have also revealed that the group’s revenue increased from $236.7m to $277.7m over the same period.

In Europe, the group’s revenue increased from $104.3m to $118m while its sales in the USA also grew from $106.7m to $120.9m.

In Asia Pacific and the Middle East, the group’s revenue rose from $25.7m to $38.7m.

During the year the average number of people employed by the group increased from 999 to 1,183.

Record EBITDA for Big Bus Tours

A statement signed off by the board said: “The Covid-19 pandemic had a material impact on the business during the last four financial years.

“The European and United States regions have recovered to pre-pandemic levels however operations in the Middle Eats and Hong Kong have taken longer to recover.

“During the current financial year Hong Kong borders fully opened and tourists returned to the region.

“The Middle East Asia Pacific region represents a particular opportunity for growth.

“The group recorded record EBITDA [earnings before interest, taxes, depreciation and amortisation] for FY24, a testament to the margin improvement initiatives implemented during the pandemic years.

Big Bus Tours is majority owned by Exponent Private Equity while Merlin Entertainments holds a minority stake.

The company was founded in 1990 as Les Cars Rouges in Paris and expanded into Rome, Washington DC, Las Vegas, San Francisco, Miami and Istanbul.

The business first started operating in London in 1991 while it has since also moved into the likes of Dubai, Abu Dhabi, Hong Kong, Shanghai and Philadelphia.

Big Bus Tours was formed in 2011 when Les Cars Rouges and the Big Bus Company merged.