REG - Hostelworld Grp PLC - Trading Update

HostelworldAnnouncement

12/07/2022 07:00

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RNS Number : 0899S  Hostelworld Group PLC  12 July 2022

LEI:213800OC94PF2D675H41

 

Hostelworld Group plc

Hostelworld Group plc - Trading Update

Strong recovery continues during key trading period

Hostelworld Group plc ("Hostelworld" or the "Group") is providing an update on
trading up to 30 June 2022.

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

Overall, we are seeing the recovery continue across all destinations and
demand segments. In particular, booking demand into Europe, our largest
destination in 2019, remains strong with our top markets in Southern Europe
exceeding 2019 levels. We also see 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 have reached
75% of 2019 levels in June, with trips from the US and Canada into European
destinations above 2019 levels.

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.

Gary Morrison, Group Chief Executive Officer, said today:

"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."

The Group will report its half year results for the six months ended 30 June
2022 on 10 August 2022.

For further information please contact:

 Powerscourt                  Tel: +44 (0) 20 7250 1446

 Eavan Gannon / Nick Dibden   hostelworld@powerscourt-group.com

 

 

About Hostelworld Group

Hostelworld Group is a leading Online Travel Agent focused on the hostelling
category, with a well-known trusted brand, 13.7 million reviews and a loyal
customer base built up over 22 years. Our core business provides our customers
with hostel accommodation options and hostel focused small group adventure
tour products (Roamies) in over 180 countries worldwide via our website and
native app platforms in 19 languages.

In parallel with helping millions of hostel focused travellers Meet The
World®, we are also committed to building a better world in everything we do.
In particular, we are increasing our focus on improving the sustainability of
the hostelling industry, through our active involvement in the Global Tourism
Plastics Initiative (GTPI), led by the UN Environment Programme and the World
Tourism Organization (UNWTO); our membership of the Global Sustainable Tourism
Council (GSTC); and our recent partnership with the South Pole to offset all
our greenhouse gas emissions in 2021.

 

Disclaimer

This announcement contains forward-looking statements. These statements relate
to the future prospects, developments and business strategies of Hostelworld.
Forward-looking statements are identified by the use of such terms as
"believe", "could", "envisage", "estimate", "potential", "intend", "may",
"plan", "will" or variations or similar expressions, or the negative thereof.
Any forward-looking statements contained in this announcement are based on
current expectations and are subject to risks and uncertainties that could
cause actual results to differ materially from those expressed or implied by
those statements. If one or more of these risks or uncertainties materialize,
or if underlying assumptions prove incorrect, Hostelworld's actual results may
vary materially from those expected, estimated or projected. Any
forward-looking statements speak only as at the date of this announcement.
Except as required by law, Hostelworld undertakes no obligation to publicly
release any update or revisions to any forward-looking statements contained in
this announcement to reflect any change in events, conditions or circumstances
on which any such statements are based after the time they are made.

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