TIDMHSW

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 Worl d(R) . 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

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(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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May 11, 2022 02:00 ET (06:00 GMT)

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