Hostelworld Group PLC Trading Update (0899S)
12 Juli 2022 - 8:00AM
UK Regulatory
TIDMHSW
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 (R), 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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