Hostelworld sees recovery continue as Europe bookings remain strong

Dublin-based hostel booking company Hostelworld said its business was seeing continued recovery, building on a strong start reported in April and May.

The group said net bookings in June reached 80 per cent of pre-pandemic levels for the month, while net revenue was 104 per cent of June 2019 levels, driven by higher average booking values.

Hostelworld said it was seeing recovery continue across all destinations, with booking demand into Europe remaining strong and its top markets in southern Europe exceeding 2019 levels. The group said momentum was returning slowly to its Oceania and Asia destinations from a low level in January, and in June stood at 43 per cent of 2019 levels. Long haul, meanwhile, was 75 per cent of 2019 levels in June, with trips from the US and Canada into European destinations above 2019 levels.

“I am encouraged by the positive indicators we report today across all of our key market segments which demonstrate the ability of our business model to capture pent-up customer demand as the travel market returns,” said Gary Morrison, group chief executive. “Despite macroeconomic uncertainties and recent disruption to airline schedules, I am very confident that we are well positioned to continue to capitalise on the travel recovery as we enter our key seasonal summer trading period.”