AGM Statement

RNS Number : 7723A

Hostelworld Group PLC

31 May 2019

 

LEI:213800OC94PF2D675H41                      

Hostelworld Group plc

("Hostelworld" or the "Group")

AGM Statement

31 May 2019: Hostelworld, the global hostel-focussed online booking platform, will hold its 2019 Annual General Meeting at 12.00pm today, Friday 31 May, at the offices of the Company, Floor 2, One Central Park, Leopardstown, Dublin 18, Ireland.

Michael Cawley, Chairman, will present the following update to shareholders:

"I am pleased to report that the Group continues to make progress on its 'Roadmap for Growth' programme with investment across a number of key initiatives underway. As previously announced, 2019 is a year of investment to fund the growth drivers in 2020. One of our key focus areas is strengthening the capability of our core platform to improve its flexibility and the experience for customers, and we look forward to providing an update on progress against this and other initiatives as part of our interim results in August.

Hostelworld continues to operate in a highly competitive market where weak consumer sentiment in key EU markets has led to some softness in demand for bookings in recent months. While the important summer season is still ahead of us, we currently expect to meet the Board's expectation of modest EBITDA growth for the full year."

Subject to approval at the AGM, the final dividend in respect of the year ended 31 December 2018 of 9.0 euro cent per share will be paid on 5 June 2019 to shareholders on the register at 10 May 2019. This will bring the total full year dividend in respect of 2018 to 13.8 euro cent per share.

The Group will report its interim results for the six months ended 30 June 2019 on Tuesday 20 August 2019.

ends

For further information please contact:

Hostelworld Group plc Gary Morrison, Chief Executive Officer TJ Kelly, Chief Financial Officer	[phone]
Powerscourt Lisa Kavanagh/Jana Tsiligiannis Jack Hickey	[e-mail] [phone] [phone]

About Hostelworld Group

Hostelworld Group is the leading hostel-focussed online booking platform, sparking social experiences for young and independent travellers.

Our customers are not your average tourists; they crave unique experiences that we facilitate with the best choice of hostels around the world offered in 19 languages across the website and 13 languages on the app of our core brand Hostelworld.

We have 20 years' experience as the hostel Online Travel Agent ("OTA") experts, and today we work with over 16,500 hostel properties globally, in addition to 20,000 other forms of budget accommodation.

Our customers have access to an extensive database of more than 11.5 million customer reviews which allows them to choose the hostel that's right for them.

Since 1999 we've partnered with hostels worldwide, enabling them to manage and distribute their inventory to our highly engaged and valuable global customer base.

 

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