Non-Executive Chair to Step Down

LEI:213800OC94PF2D675H41

Hostelworld Group plc ("Hostelworld" or the "Group")

Board Change

Hostelworld today announces that following his acceptance of an offer to become the full-time CEO of a large internationally based company at a later date in 2025, Ulrik Bengtsson has informed the Board of his decision to step down as Chairman and Non-Executive Director of Hostelworld. Ulrik will remain as Chairman and Non-Executive Director of the Board until 31 October 2025. The Board will immediately begin the recruitment process for a new Independent Non-Executive Chair to guide the Company on its next stage of ambitious growth, and a further update will be provided in due course.

The Company acknowledges the compelling opportunity this new CEO role represents and thanks Ulrik for his valued and continuing contribution since joining the Board in May 2024. 

Ulrik Bengtsson, Hostelworld Chairman, commented:

"The opportunity to return to a full-time CEO position was compelling and is something that I am excited about. During my period at Hostelworld, we have worked intensively on the future growth strategy for the Group, which will be outlined at our capital markets day in April. I have great conviction in the growth potential of the Company and the continuing success of the Group's distinctive social strategy."

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About Hostelworld Group

Hostelworld Group Plc is a ground-breaking social network powered OTA focused on the hostelling category, with a clear mission to help travellers find people to hang out with. Our mission statement is founded on the insight that the vast majority of travellers go hostelling as a means to meet other people; which we facilitate through a series of Social features on our platform that connect our travellers in hostels and cities based on their booking data. To date the strategy has been extraordinarily successful, generating significant word of mouth recommendations from our customers and strong endorsements from our Hostel partners.

Founded in 1999, Hostelworld is a well-known trusted brand with 250 employees across 11 countries; hostel partners in 170 countries; and a strong commitment to building a better world in all that we do. In particular, our focus in the last few years has been on improving the sustainability of hostelling industry, through our membership of the Global Sustainable Tourism Council (GSTC); our active involvement in the Global Tourism Plastics Initiative (GTPI); our partnerships with Bureau Veritas to establish emissions benchmarks for the hostelling industry; and our recent partnership with the South Pole to be a climate neutral company in 2021 and 2022.