Hostelworld Group PLC AGM Statement (6098W)
April 26 2021 - 5:59AM
UK Regulatory
TIDMHSW
RNS Number : 6098W
Hostelworld Group PLC
26 April 2021
LEI:213800OC94PF2D675H41
26 April 2021
Hostelworld Group plc
("Hostelworld" or the "Group" or "we")
AGM Statement
Hostelworld, a leading global OTA focused on the hostel market,
will hold its 2021 Annual General Meeting at 12 noon on 26 April
2021 at the offices of the Company, Floor 2, One Central Park,
Leopardstown, Dublin 18, Ireland. As announced through the
Regulatory Information Services and published on the Group's
website on 01 April 2021, due to ongoing restrictions relating to
COVID-19, the 2021 Annual General Meeting will be held behind
closed doors to ensure that that the wellbeing of our shareholders
and employees is safeguarded during this time.
Booking volumes were weak throughout Q1 2021 with continued
lockdowns and travel restrictions impacting demand. Domestic
booking volumes are recovering, particularly in North and Central
American markets.
The Group's liquidity position is strong with EUR38.3m of cash
at bank as at 31 March 2021, including the new term loan facility
signed in February 2021. The Group's monthly operating cash outflow
of
EUR1.6 million is in line with expectations.
We continue to expect the pace of recovery to be driven by
changes in travel guidance in individual markets, which we hope to
see accelerate as vaccination programmes are rolled out across our
key geographies. In light of the continued market uncertainties,
the Group's full year guidance for FY21 remains suspended.
For further information please contact:
Hostelworld Group plc
Gary Morrison Chief Executive Tel: +353 (0) 1 498 0700
Officer
Caroline Sherry Chief Financial
Officer
Rudolf O'Kane Head of Commercial
Finance
Powerscourt
Lisa Kavanagh / Eavan Gannon Tel: +44 (0) 20 7250 1446
Email: hostelworld@powerscourt-group.com
About Hostelworld Group
Hostelworld Group, the global hostel-focused online booking
platform, inspires passionate travellers to Meet The World, and
come back with life-changing stories to tell. Our customers are not
your average tourists; they crave cultural connection and unique
experiences that we make possible by providing an unbeatable
selection of hostels in unmissable locations - all in the palm of
their hand.
It is the social nature and community feel of hostels and their
environment that enable travellers to embrace journeys of
discovery, adventure and meaning. We have more than 13 million
reviews across over 17,000 hostels in more than 179 countries,
making our brand the leading online hub for social travel. Our
website operates in 19 different languages and our mobile app in 13
languages.
Disclaimer:
This announcement may contain forward-looking statements with
regard to the financial position and results of Hostelworld's
activities. Any forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially.
Many of these risks and uncertainties relate to factors that are
beyond Hostelworld's ability to control or estimate precisely. The
risks and other factors which may affect financial performance are
detailed in Hostelworld's publicly filed annual reports. Any
forward-looking statements in this announcement are current only as
of the date on which such statements are made. Hostelworld
undertakes no obligation to update any forward-looking statements,
save in respect of any requirement under applicable law or
regulation.
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END
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