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Hostelworld Provides Trading Update

By Dave Simpson

Dublin-based accommodation platform Hostelworld Group plc has provided an update on its trading up to 30 June 2022.

Details

Building on the strong start previously reported in April and in May earlier this year, the group said that it is pleased to report that June 2022 net bookings reached 80% of June 2019 levels with net revenue at 104% of 2019 levels driven by higher average booking values.

Overall, Hostelworld is seeing the recovery continue across all destinations and demand segments. In particular, booking demand into Europe, the group's largest destination in 2019, remains strong with its top markets in southern Europe exceeding 2019 levels. Hostelworld also sees booking momentum slowly returning in Oceania and Asian destinations from a very low level in January, with booking demand in June at 43% of 2019 levels. Finally, long haul bookings reached 75% of 2019 levels in June, with trips from the US and Canada into European destinations above 2019 levels.

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The group continues to progress its sustainability agenda, working in partnership with South Pole towards climate neutral accreditation and with its hostel partners to advance the inherent sustainability advantages of hostel accommodation.

Hostelworld will report its half year results for the six month period that ended on 30 June 2022 on 10 August 2022.

Statement By Group Chief Executive Officer

Gary Morrison, Group chief executive officer, said, "I am encouraged by the positive indicators we report today across all of our key market segments which demonstrate the ability of our business model to capture pent-up customer demand as the travel market returns. Despite macro-economic uncertainties and recent disruption to airline schedules, I am very confident that we are well positioned to continue to capitalise on the travel recovery as we enter our key seasonal summer trading period."

© 2022 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.

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