Specialist OTA says higher booking values have seen monthly net revenues surpass 2019
Hostelworld recovery continues but booking volumes remain below pre-COVID levels
Budget accommodation OTA Hostelworld Group saw June bookings reach 80% of pre-pandemic levels.
Net revenues last month hit 104% of equivalent 2019 rates, driven by higher average booking values.
The company reported strong recovery continuing during the key pre-peak summer period.
In a trading update, Hostelworld said: “Overall, we are seeing the recovery continue across all destinations and demand segments.
“In particular, booking demand into Europe, our largest destination in 2019, remains strong with our top markets in southern Europe exceeding 2019 levels.
“We also see booking momentum slowly returning in Oceania and Asian destinations from a very low level in January, with booking demand in June at 43% of 2019 levels.
“Finally, long-haul bookings have reached 75% of 2019 levels in June, with trips from the US and Canada into European destinations above 2019 levels.”
Chief executive Gary Morrison added: “I am encouraged by the positive indicators we report today across all of our key market segments which demonstrate the ability of our business model to capture pent-up customer demand as the travel market returns.
“Despite macro-economic uncertainties and recent disruption to airline schedules, I am very confident that we are well positioned to continue to capitalise on the travel recovery as we enter our key seasonal summer trading period.”
The group will report results for the six months ended June 30 on August 10.