REG - Hostelworld Grp PLC - 2022 AGM Statement

HostelworldAnnouncement

11/05/2022 07:01

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RNS Number : 9934K  Hostelworld Group PLC  11 May 2022

LEI:213800OC94PF2D675H41

 

Hostelworld Group plc

("Hostelworld" or the "Group" or "we")

 

2022 AGM Statement

Strong recovery continues

11 May 2022: Hostelworld is holding its AGM today at 12 noon at the offices of
the Company, Charlemont Exchange, Charlemont Street, Dublin 2.

At the AGM, Michael Cawley, Chairman of Hostelworld, will make the following
statement:

"The management team and I are pleased to report that the strong start
experienced in the first 12 weeks of 2022 has continued through April and into
early May. In particular in week 18 net bookings reached 73% of 2019 levels
and, due to higher booking values, revenue reached 97%.

Overall, we are seeing the recovery continue across all destinations and
demand segments. In particular, booking demand into Europe, our largest
destination in 2019, has almost fully recovered  to 2019 levels with some
markets exceeding 100%. We also see booking momentum returning in Oceania and
Asian destinations as markets reopen for international travel, albeit more
slowly. Finally, long haul bookings have now reached 70% of 2019, with trips
from the US and Canada into European destinations at 2019 levels.

We are very confident in our business model and in our proven capability to
capture the pent-up customer demand to travel, to share experiences and to
Meet the World®. The performance to date has been stronger than we had
initially expected, and we are well geared to the travel recovery. Despite a
number of external factors including inflationary pressures and the ongoing
conflict in Ukraine, we anticipate this strong recovery trajectory to
continue."

AGM details

The results of the resolutions relating to the AGM will be published later
today. Further information relating to the AGM is published on the Company's
website:

https://www.hostelworldgroup.com/investors/agm-information/2022
(https://www.hostelworldgroup.com/investors/agm-information/2022)

 

For further information please contact:

 Powerscourt

 Eavan Gannon / Nick Dibden   Tel: +44 (0) 20 7250 1446

                              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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