The theatre was designed by the celebrated architect Frank Matcham for the impresario Oswald Stoll, and it opened on 16 December 1912. English Heritage has since designated the building Grade II listed. One of its original talking points was an enormous water tank at the front of the stage, capable of holding 100,000 gallons, with a large glass screen that could be raised to shield the orchestra and the front stalls. The auditorium dome could also be opened for ventilation, although since air conditioning was installed it is rarely used.
The Hippodrome came through the Second World War intact, but in 1948, less than three years after the war ended, fire destroyed the stage. The auditorium survived, and the theatre reopened around ten months later.
Plenty of theatrical history has passed across that stage. The British premiere of Guys and Dolls played here in May 1953, with Vivian Blaine and Sam Levene reprising their Broadway roles, before the production transferred to the London Coliseum. Later came the European premieres of The Music Man in 1961 and Sail Away in 1962, the British premiere of Jeeves in 1975, the world premiere of Windy City in 1982, English National Ballet's new Nutcracker in 2002 and the world premiere of Mary Poppins in 2004. The theatre also has a poignant footnote in music history: Eddie Cochran played his final show here in 1960, hours before the road accident in Chippenham that killed him, and George Formby gave his last performance here on 14 January 1961.
In 2012 the Hippodrome marked its centenary with Thanks for the Memories, a celebration staged by the amateur companies Bristol Light Opera Club and Bristol Musical Youth Productions. It remains part of the ATG Entertainment group and a fixture of the national touring circuit.