Dublin-based hostel booking company Hostelworld has reported a bounce back in revenue and bookings as the sector continues to recover from pandemic shutdowns.
Ahead of its AGM today, the group said the strong start experienced in the first 12 weeks of the year had continued through April and into May.
"In particular, in week 18 net bookings reached 73% of 2019 levels and, due to higher booking values, revenue reached 97%," Michael Cawley, Chairman of Hostelworld said.
"Overall, we are seeing the recovery continue across all destinations and demand segments. In particular, booking demand into Europe, our largest destination in 2019, has almost fully recovered to 2019 levels with some markets exceeding 100%," he added.
Mr Cawely said booking momentum was returning in Oceania and Asian destinations as markets reopen for international travel, albeit more slowly.
He added that long haul bookings had bounced back to 70% of 2019 levels, with trips from the US and Canada into European destinations already back at 2019 levels.
"The performance to date has been stronger than we had initially expected, and we are well geared to the travel recovery," Mr Cawley said.
"Despite a number of external factors including inflationary pressures and the ongoing conflict in Ukraine, we anticipate this strong recovery trajectory to continue," he concluded.
