Hostelworld reports bookings hike in trading update

Hostelworld reports bookings hike in trading update

Bookings through the Hostelworld online booking platform rose by 21% in the second half of 2015.

Results for the full year are expected to be in line with expectations, the Irish company said in a trading update.

Hostelworld raised €180 million through an Initial Public Offering on the Dublin and London stock markets last autumn.

The company today reported an increase in mobile business to represent more than 40% of Hostelworld brand bookings for the year.

An increased focus on Hostelworld as the primary brand and the ongoing integration of the Hostelbookers technology platform resulted in a continued reduction in Hostelbookers bookings.

The group introduced a newly rebranded and responsive Hostelbookers website this month, including a dynamic pricing functionality.

Across all brands, the group returned to overall bookings growth during the second half of 2015, up 2%, the company said.

Hostelworld's first dividend as a public company is to be announced in April, in line with the policy stated at the time of the IPO.

Chief executive, Feargal Mooney, said: "We are pleased with the financial performance of the group in 2015.

“Following the re-branding of the Hostelworld and Hostelbookers websites, the integration of the group's technology platforms, the continuing advancement of our mobile offering and November 2015's successful IPO, we look forward to the current year and beyond with confidence."

Full-year results are due to be issued on April 5.


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