At just 42 years old, Édouard Malnoy (H.19) has already changed his playground several times. After starting his career in private equity, then moving into the creation of dermatology clinics, he now heads Hadrena, a rapidly growing group aiming to become the global leader in local indoor entertainment.

“The starting point,” he explains, “was a market observation: strong demand for nearby leisure activities, but a fragmented, often unprofessional supply. We saw an opportunity to build a structured group, similar to what had happened in the restaurant or hotel industries.”

Born in Paris, having studied in Rennes before attending HEC and ENSA, Édouard Malnoy retains vivid memories of his time on campus. “Above all, it’s about the people. In my current executive committee, half are from HEC, including one from my class. It’s an incredibly valuable network.”

Together with his partner Jérémy Letovsky (H.2001) and the support of Otium Capital, he launched what was initially called Otium Leisure in 2021, before rebranding as Hadrena to assert its independence. Three years later, the results are impressive: 160 venues in 7 countries, €250 million in revenue, and a bold ambition of 1,000 sites within ten years.

The portfolio is diverse: Family Entertainment Centers (bowling, karting, arcade games) operated under the SpeedPark and Game Factory brands, as well as original concepts like Fort Boyard Aventures (in partnership with France Télévisions) and Eclipso, focused on virtual reality. Other projects are already on the horizon, such as Activate and Compact Splash, an urban action game opening in Paris in 2026.

The business model is based on location profitability and experience diversity. “It’s a profitable industry if you choose your sites well,” he emphasizes. “The key metric is the investment payback, and so far we’ve seen excellent returns.”

Hadrena is also playing the international card, with a strong presence already in the United States. “There, leisure consumption is much higher, and food & beverage plays a central role. In France, people tend to go eat elsewhere afterward. But in terms of innovation, Europe is very dynamic.”

There’s no question of comparing themselves to Disney or Parc Astérix: “We focus exclusively on local indoor entertainment. Our competitors are mainly independent players or a few large U.S. operators like Dave & Buster’s or Sky Zone.”

And the name Hadrena? “It comes from adrenaline — the emotion we want to deliver. The H stands for strength, and the visual identity expresses upward energy. Our slogan is ‘More than leisure memories.’”

Balancing financial discipline with creative vision, Édouard Malnoy moves forward with a clear conviction: to turn local leisure into a true industry. “There’s still so much to invent and the possibilities are vast.”

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