Hostelworld sees a “strong recovery” in bookings and revenue

Online travel agency Hostelworld says its post-pandemic recovery remains strong, according to a trade update from the Dublin-based group.

Net bookings in June reached 80 percent of pre-pandemic levels in June 2019. Net sales are 104 percent above 2019 levels, driven by higher average booking values.

According to the group, the recovery in the first half of the year was also evident in all destinations. Bookings in southern Europe have now exceeded 2019 levels, with momentum at locations in Oceania and Asia returning “slowly” after very low demand in January this year.

June booking demand for these destinations is now 43 percent of 2019 levels.

Long-haul bookings in June are now 75 percent of 2019 levels, with trips from North America to Europe above 2019 levels.

“I am encouraged by the positive indicators we are reporting today across all of our key market segments, demonstrating the ability of our business model to capitalize on pent-up customer demand as the travel market returns,” said Chief Executive Officer Gary Morrison.

He added that “despite macroeconomic uncertainties and the recent disruption to flight schedules,” the group remains well positioned to perform well in the summer trading period.

Last year, Hostelworld reported that net bookings totaled 1.5 million, up 21 percent from 2019 levels.

The group will publish its half year results for the six months ended June 30, 2022 on August 10, 2022.

https://www.independent.ie/business/irish/hostelworld-sees-strong-recovery-in-bookings-and-revenue-41832725.html Hostelworld sees a “strong recovery” in bookings and revenue

Fry Electronics Team

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