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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