Hostelworld shares fall after World Cup and heatwave knock bookings

Online booking site Hostelworld has seen its shares slump as it warned of a hit to bookings after the World Cup and European heatwave dented demand.

Shares in the London-listed group - whose latest advertising campaign is fronted by pop diva Mariah Carey - tumbled by as much as 11% after new boss Gary Morrison said peak summer bookings have been soft and are likely to remain flat on a like-for-like basis over the full year if trading trends continue.