Hostelworld seeing continued soft demand

Online accommodation booking company Hostelworld has said it has seen continued “softness” in demand over recent months.

The update follows on from a poor set of annual results in April, when Hostelworld reported a near-€5m drop in revenue for 2018 to just over €82m, said adjusted earnings fell by nearly 20% to €21.4m, and said group bookings were flat.