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Hostelworld Announces Strong First Half Results

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Hostelworld, the leading online hotel-booking platform, has reported impressive financial results for the first half of the year. The company’s revenue soared to €51.5 million, representing a significant 57% increase compared to the same period in 2022. Notably, net bookings also experienced remarkable growth, rising by 64% to reach 3.4 million, driven by stellar performances in key markets.

One of the company’s preferred metrics, net gross merchandise value (GMV), which calculates the gross transaction value of bookings after subtracting cancellations, witnessed a substantial surge as well. It reached €339.5 million, marking a 57% jump from the previous year.

In terms of profitability, Hostelworld demonstrated a remarkable turnaround, with adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) shifting from a loss of €5.2 million in the prior year to a positive €5.1 million.

Building on this success, Hostelworld is highly confident about its 2023 earnings outlook and has maintained its adjusted EBITDA guidance range of €16.5 million to €17 million for the full year.

Hostelworld is scheduled to release its comprehensive half-year report on August 10th, providing further insights into its financial performance and growth strategies.

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