Hostelworld ( (GB:HSW) ) has shared an update.
Hostelworld Group PLC reported its preliminary results for 2024, highlighting a return to a net cash position and a 19% increase in adjusted EBITDA to €21.8 million. Despite a slight decline in net revenue, the company saw a 6% rise in net bookings, driven by demand for lower-cost destinations in Asia. The company’s social strategy has been instrumental in reducing marketing expenses and boosting net margin growth. Hostelworld’s focus on sustainability has also been reinforced, with over 2,100 hostels obtaining sustainability certification. Looking ahead, the company plans to continue investing in technology and social features to drive growth.
More about Hostelworld
Hostelworld Group PLC is a prominent online travel agent (OTA) specializing in the hostel market, with a focus on creating social connections among travelers. Founded in 1999 and headquartered in Ireland, the company operates with hostel partners in over 180 countries, aiming to enhance the sustainability of the hostelling industry. Hostelworld’s platform is designed to facilitate interactions among travelers through social features, and it has been recognized for its efforts in sustainability, including a ‘Taking Climate Action’ label from South Pole.
YTD Price Performance: -7.41%
Average Trading Volume: 73,168
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £154.4M
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