25th Jan 2017 08:37
LONDON (Alliance News) - Hostelworld Group PLC on Wednesday said its full-year results will be in line with the board's expectations, after achieving good growth in bookings within its flagship brand during the second half.
The online hostel booking platform said it delivered 21% growth in bookings in its flagship Hostelworld brand in the second half of 2016, resulting in 18% growth in the year on the whole.
Including the smaller Hostelbookers and Hostels.com brands, overall bookings rose by 2% in the second half, but fell by 1% in the full year.
Hostelworld said it made good progress in its mobile business, with mobile now representing almost half of Hostelworld brand bookings.
"Set in the context of challenging market conditions, particularly in Europe in the second quarter, I am pleased with our second-half performance and our continued momentum in the execution of strategy across mobile, pricing, geographic diversification, focused brand marketing and a more efficient booking mix. This positions the group well to make further progress in 2017," Chief Executive Feargal Mooney said in a statement.
Shares in Hostelworld were trading up 3.4% at 200.00 pence on Wednesday morning.
By Karolina Kaminska; [email protected]; @KarolinaAllNews
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