Earnings before interest tax depreciation and amortisation at the online travel agent focused on hostelling, Hostelworld, rose 88% in the first half of the year compared to the same period last year.
Net revenue was up 1% at €46.4m, driven by a 9% increase in net bookings to 3.7m as a result of record activity in Asia and Central America. The details were contained in a trading update from the Dublin based company ahead of its half year results on August 8th. "Over the balance of the year, we expect consumer demand for low-cost destinations to continue, resulting in revenue growth lagging net bookings growth on a FY basis.""I am also pleased that marketing expense as a proportion of revenue has improved significantly YoY resulting in a 23% increase in net margin YoY driven primarily by our Social Strategy, despite the significant growth in lower cost destinations driving lower ABV's," Mr Morrison said.