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Hostelworld

April 2020

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Hostelworld posted in line results with EBITDA down 9% to Eu20.5m on sales that fell 2% to Eu80.7m. But overshadowing the results were travel restrictions posed by Covid-19. Hostelworld brand bookings declined 5% (2018: minus 1%) with cancellations of Eu9.3m (2018: Eu5.5m) reflecting its free cancellation policy. That in turn lifted marketing costs to 41% of revenue from 37%. Net cash was Eu19m.Even before virus worries Hostelworld has struggled with increased competition and has set out a new strategy to acquire “experimental travel intermediaries” - businesses that provide volunteering, working holiday and other experiences, with a pipeline of deals at an advanced stage, according to Peel Hunt. The broker says “ ...

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Hostelworld

April 2020

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