Hostelworld Group PLC 2022 AGM Statement (9934K)
11 May 2022 - 4:00PM
UK Regulatory
TIDMHSW
RNS Number : 9934K
Hostelworld Group PLC
11 May 2022
LEI:213800OC94PF2D675H41
Hostelworld Group plc
("Hostelworld" or the "Group" or "we")
2022 AGM Statement
Strong recovery continues
11 May 2022: Hostelworld is holding its AGM today at 12 noon at
the offices of the Company, Charlemont Exchange, Charlemont Street,
Dublin 2.
At the AGM, Michael Cawley, Chairman of Hostelworld, will make
the following statement:
"The management team and I are pleased to report that the strong
start experienced in the first 12 weeks of 2022 has continued
through April and into early May. In particular in week 18 net
bookings reached 73% of 2019 levels and, due to higher booking
values, revenue reached 97%.
Overall, we are seeing the recovery continue across all
destinations and demand segments. In particular, booking demand
into Europe, our largest destination in 2019, has almost fully
recovered to 2019 levels with some markets exceeding 100%. We also
see booking momentum returning in Oceania and Asian destinations as
markets reopen for international travel, albeit more slowly.
Finally, long haul bookings have now reached 70% of 2019, with
trips from the US and Canada into European destinations at 2019
levels.
We are very confident in our business model and in our proven
capability to capture the pent-up customer demand to travel, to
share experiences and to Meet the Worl d(R) . The performance to
date has been stronger than we had initially expected, and we are
well geared to the travel recovery. Despite a number of external
factors including inflationary pressures and the ongoing conflict
in Ukraine, we anticipate this strong recovery trajectory to
continue."
AGM details
The results of the resolutions relating to the AGM will be
published later today. Further information relating to the AGM is
published on the Company's website:
https://www.hostelworldgroup.com/investors/agm-information/2022
For further information please contact:
Powerscourt
Eavan Gannon / Nick Dibden Tel: +44 (0) 20 7250 1446
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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