Profits surge at Hostelworld as bookings rise

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Hostelworld News

Hostel

Online travel company has agreed to repay €9.6m in pandemic-era warehoused debt

Adjusted earnings surged at budget travel group Hostelworld in the first half of the year, the company said on Wednesday in a trading update.

The group said the increase in earnings was driven by an upswing in the number of bookings, primarily in the Asian and Central American markets. However, this was offset by a fall in average earnings per booking as these markets are cheaper than other global markets. The company earns an average of €13.60 form each booking.

Dublin-based Hostelworld was founded as an online business in 1999 to provide a system for hostels around the world to connect with customers and manage their accommodation. Announcing results for 2023 in March, the group said bookings had jumped 37 per cent last year to 6.5 million. Hostelworld has almost 230 employees and hostel partners in more than 180 countries.

 

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