(Alliance News) - Hostelworld Group PLC said Monday its 2019 results will be in line with expectations.
Chief Executive Gary Morrison said: "We are pleased with the continued progress on the 'Growth Roadmap' and can confirm the results for the full year to December 31, 2019 are in line with the board's expectations."
The Dublin-based hostel booking platform is scheduled to release its 2019 results on March 4. The company is also expected to give a strategy update on its Growth Roadmap plan.
At the end of 2018, Hostelworld launched the "Roadmap for Growth" strategy.
The strategy was created to enhance competitiveness and deliver a return to growth by focusing on investment in core customer acquisition and core platform enhancements.
This was to be supported by investment in 2019, including an expansion of the existing Porto development centre, with the benefits expected to be seen in 2020.
Shares in Hostelworld were 1.0% higher in London on Monday at 154.80 pence each.
By Paul McGowan; paulmcgowan@alliancenews.com
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Hostelworld (HSW)