Business Insight Hostelworld
Hostelworld has launched a major strategy update under its new chief executive as it seeks an upturn in booking numbers, writes Charlie Taylor-Kroll.
The hotel online booking platform provider said that it launched a “road map for growth” after its booking numbers were expected to be flat for the year to Dec 31 compared to the same period the year before.
The company previously said an unusually hot summer and World Cup fever hit demand for hostels.
However, new chief executive Gary Morrison, launched a six-month strategic review aimed at steering the company back to growth.
The company said, as part of the strategy, it would strengthen its management team and expand its development centre in Porto.
The business expects to see a growth in bookings by 2020. Ross Harvey, at Davy Research, said that the company’s strategy update “presents a logical and convincing road map” to stimulate growth.
Mr Morrison said it has an “exciting future ahead”, adding the aim of the strategy is to “reaffirm Hostelworld’s position as the leading hostel-focused online booking platform.”
Hostelworld said that World Cup fever hit demand for hostels
Gary Morrison Chief executive