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Hostelworld Group PLC on Wednesday said it has seen strong trading momentum from the start of 2022 continue into April and May, fostering further progress in the company's recovery back to pre-pandemic levels.
In particular, for week 18 of 2022, the Dublin-based online booking platform reported that bookings reached 73% of 2019 levels, leading to revenue reaching 97% of pre-pandemic levels.
Hostelworld noted a continued recovery in all destinations and demand segments, with booking demand for Europe fully recovering to levels seen before the pandemic. Meanwhile, long haul bookings have reached 70% of 2019 levels, with trips from the US and Canada into European destinations at 2019 levels.
‘The performance to date has been stronger than we had initially expected, and we are well geared to the travel recovery. Despite a number of external factors including inflationary pressures and the ongoing conflict in Ukraine, we anticipate this strong recovery trajectory to continue,’ said Chair Michael Cawley.
Shares in Hostelworld were 5.4% higher at 85.40 pence on Wednesday in London.
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