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Hostelworld Profits Feel The Effects Of Terrorist Attacks

Published on Aug 24 2016 10:17 AM in Hotel tagged: Europe / Hostelworld / Terror Attacks

Hostelworld Profits Feel The Effects Of Terrorist Attacks

Irish firm Hostelworld has seen its profits fall for the first half of the year due to the impact of terrorist attacks across Europe.

The company saw its profits decline from €8.8 million last year to €7.7 million, as well as a fall in revenue to €40.2 million.

However, core bookings rose by 16 per cent and brand bookings to Asian destinations increased by 30 per cent, reports the Irish Independent.

Despite the effect that terrorism has had, the company says it's still on track to meet expectations for the key months of July and August, and that it is looking toward more profitable channels with supporting brands.

Discussing the fall in profits, Feargal Mooney, the chief executive of Hostelworld said: "We will continue to manage the risks to our business posed by the impact of terrorist attacks on travel demand and patterns and by macro-economic uncertainties and currency fluctuations surrounding Brexit and, based on performance for the year to date, our expectations for the full year are unchanged."

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