Wednesday 13 December 2017

Trading momentum continues for Hostelworld

Hostelworld chief executive Feargal Mooney
Hostelworld chief executive Feargal Mooney
Ellie Donnelly

Ellie Donnelly

Hostelworld has confirmed that its improved trading momentum, which picked up in late 2016, has continued into 2017.

In a statement ahead of its AGM, the online accommodation booking platform, said that there was volumes growth across all regions, with more moderate gains in Europe, suggesting that Asia-Pacific and North America continue to act as the main sources of growth in a similar fashion to 2016.

"Our continued execution of key strategic initiatives together with our highly cash generative business model positions the group well to make further progress. We remain confident of meeting the board's expectations for the full year," Richard Segal, Hostelworld chairman, said.

Read more: Hostelworld shares surge 9pc as it pays €10m extra dividend

The company will, subject to shareholder approval, issue a final dividend in respect of 2016 of €10.40 per share, with the supplementary dividend of €10.5 euro cent per share to be paid on 6 June 2017 to shareholders on the register at 28 April 2017.

This will bring the total dividend in respect of 2016 to 25.7 euro cent per share.

In 2016 total group bookings fell 1pc, or 72,168, while total revenue declined by 4pc, or €3m, to €80.5m, according to its ceo, Feargal Mooney.

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