Now that Hosteworld is publicly traded on the stock exchange, they are required to make public financial statements. The 2016 mid-year report was released today.
Hostelworld reports half-year revenue fall of 9%
Irish travel website Hostelworld said on Tuesday that its expectations for the full-year are unchanged, despite a challenging market backdrop.
In the six months to June 30th, revenue fell 9 per cent to €40.2 million as the average booking value dropped 6 per cent to €11.8 million. Losses narrowed to €5.5 million, from €14.6 million in the same period in 2015. Adjusted earnings (ebitda) for the half year were €10.1 million.
Hostelworld brand bookings grew by 16 per cent, with group bookings from not-paid-for channels increasing to 61 per cent of the total.
Hostelworld said it achieved higher commission bookings from its Elevate product, which increased to 28 per cent of the group’s total, up from 17 per cent in the same period in 2015. Bookings from mobile devices grew to 45 per cent, up from 36 per cent in 2015, while mobile-app bookings accounted for 26 per cent of the total, up from 19 per cent in 2015.
For more details, Hostelworld have made their Interim Results Presentation available on their site. You can view the presentation here.