Business
2022 AGM Statement
2022 AGM Statement.
About this update from Hostelworld Group Plc
[{"type":"text","content":"\n \n \n LEI:213800OC94PF2D675H41\n \n \n \n Hostelworld Group plc\n \n \n (\"Hostelworld\" or the \"Group\" or \"we\")\n \n \n \n \n \n \n \n 2022 AGM Statement\n \n \n Strong recovery continues\n \n \n 11 May 2022: Hostelworld is holding its AGM today at 12 noon at the offices of the Company, Charlemont Exchange, Charlemont Street, \n Dublin 2.\n \n \n At the AGM, Michael Cawley, Chairman of Hostelworld, will make the following statement:\n \n \n \"The management team and I are pleased to report that the strong start experienced in the first 12 weeks of 2022 has continued through April and into early May. In particular in week 18 net bookings reached 73% of 2019 levels and, due to higher booking values, revenue reached 97%.\n \n \n 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%. We also see booking momentum returning in Oceania and Asian destinations as markets reopen for international travel, albeit more slowly. Finally, long haul bookings have now reached 70% of 2019, with trips from the US and Canada into European destinations at 2019 levels.\n \n \n We are very confident in our business model and in our proven capability to capture the pent-up customer demand to travel, to share experiences and to Meet the Worl\n d®\n . 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.\"\n \n \n AGM details\n \n \n The results of the resolutions relating to the AGM will be published later today. Further information relating to the AGM is published on the Company's website:\n \n \n \n https://www.hostelworldgroup.com/investors/agm-information/2022\n \n \n \n \n \n For further information please contact:\n \n \n \n \n \n Powerscourt\n \n Eavan Gannon / Nick Dibden\n \n \n \n \n \n Tel: +44 (0) 20 7250 1446\n [email protected]\n \n \n \n \n \n \n \n \n About Hostelworld Group\n \n \n Hostelworld Group is a leading Online Travel Agent focused on the hostelling...