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26 Apr 2021 11:59
LEI:213800OC94PF2D675H41
26 April 2021
Hostelworld Group plc
("Hostelworld" or the "Group" or "we")
AGM Statement
Hostelworld, a leading global OTA focused on the hostel market, will hold its 2021 Annual General Meeting at 12 noon on 26 April 2021 at the offices of the Company, Floor 2, One Central Park, Leopardstown, Dublin 18, Ireland. As announced through the Regulatory Information Services and published on the Group's website on 01 April 2021, due to ongoing restrictions relating to COVID-19, the 2021 Annual General Meeting will be held behind closed doors to ensure that that the wellbeing of our shareholders and employees is safeguarded during this time.
Booking volumes were weak throughout Q1 2021 with continued lockdowns and travel restrictions impacting demand. Domestic booking volumes are recovering, particularly in North and Central American markets.
The Group's liquidity position is strong with €38.3m of cash at bank as at 31 March 2021, including the new term loan facility signed in February 2021. The Group's monthly operating cash outflow of€1.6 million is in line with expectations.
We continue to expect the pace of recovery to be driven by changes in travel guidance in individual markets, which we hope to see accelerate as vaccination programmes are rolled out across our key geographies. In light of the continued market uncertainties, the Group's full year guidance for FY21 remains suspended.
For further information please contact:
Hostelworld Group plc Gary Morrison Chief Executive Officer Caroline Sherry Chief Financial Officer Rudolf O'Kane Head of Commercial Finance |
Tel: +353 (0) 1 498 0700 |
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Powerscourt Lisa Kavanagh / Eavan Gannon |
Tel: +44 (0) 20 7250 1446 Email: hostelworld@powerscourt-group.com
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About Hostelworld Group
Hostelworld Group, the global hostel-focused online booking platform, inspires passionate travellers to Meet The World, and come back with life-changing stories to tell. Our customers are not your average tourists; they crave cultural connection and unique experiences that we make possible by providing an unbeatable selection of hostels in unmissable locations - all in the palm of their hand.
It is the social nature and community feel of hostels and their environment that enable travellers to embrace journeys of discovery, adventure and meaning. We have more than 13 million reviews across over 17,000 hostels in more than 179 countries, making our brand the leading online hub for social travel. Our website operates in 19 different languages and our mobile app in 13 languages.
Disclaimer:
This announcement may contain forward-looking statements with regard to the financial position and results of Hostelworld's activities. Any forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. Many of these risks and uncertainties relate to factors that are beyond Hostelworld's ability to control or estimate precisely. The risks and other factors which may affect financial performance are detailed in Hostelworld's publicly filed annual reports. Any forward-looking statements in this announcement are current only as of the date on which such statements are made. Hostelworld undertakes no obligation to update any forward-looking statements, save in respect of any requirement under applicable law or regulation.
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