Irish travel website Hostelworld has said that it anticipates its earnings before interest, tax, depreciation and amortisation (EBITDA) will be "modest" in 2019.
According to The Irish Independent, the company expects its like-for-like gross bookings to be flat this year as a result of declines in its supporting brands.
"Strong Underlying Cash Conversion"
The company said in a trading update, "We continue to see strong underlying cash conversion in 2018. The rollout of our free cancellation product has started well and cancellation rates are performing in line with expectations."
Striving To Improve
Meanwhile, Hostelworld CEO Gary Morrison commented, "We will invest in our core products, platform and capabilities as we strive to improve the hostelling experience for travellers and enhance our technology offering for the benefit of our core hostel partners."
© 2018 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.