Busi­ness In­sight Hostel­world

The Daily Telegraph - Business - - Business Comment -

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

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