Hostelworld Revenue Reaches €46.6m In First Half Of 2017
The first six month of the year saw revenue at Irish firm Hostelworld rise 16% to €46.6 million, with the number of group bookings rising 11% to 3.9 million bookings.
As reported by The Irish Independent, Hostelworld's adjusted earnings before interest, taxation, depreciation and amortisation was up 27% to €12.9 million from the same period last year, while the company's adjusted profit after tax rose from €7.7 million to €10.3 million.
Despite the strength of these results, Hostelworld CEO Feargal Mooney stated that "growth rates in the June to August period have been more modest."
However, he also asserted, "We remain confident in our long term strategy and execution and will continue to manage the risks to our business posed by the impact of terrorist attacks on travel demand alongside general macro-economic uncertainties and currency fluctuations."