HBX Group shares latest three-month trading

The trajectory looks promising

Resilient growth and commercial progress

• Revenue of €182m, up 3% (6% constant currency) in Q3, 9-month revenue of €501m, up 7% (8% constant currency) showing robust growth
• Delivering strategic growth with Civitfun acquisition and expansion of The Luxurist into new markets and its integration into the Group’s retail platform, Bedsonline
• Mid to high single-digit TTV growth and mid-single-digit revenue growth now expected for the full year and Adj EBITDA guidance narrowed, reflecting the current market environment and currency impacts

European B2B travel technology provider, HBX Group, has announced its latest results from trading ending on 30 June.

Group revenue was €182m, up 3% compared to the prior period, compounded by the later timing of Easter which contributed approximately 1% point to growth in the quarter. 

For the 9-month period ended 30 June 2025, the group revenue grew 7% (8% constant currency). 

TTV growth was 5% in Q3 (8% constant currency), slightly ahead of revenue growth, again in line with the trends experienced in the first half of the year. 

Growth in its Accommodation business line was mostly driven by volumes, with room nights growing faster than average daily rates (ADRs). 

This reflected deeper discounting in some markets where demand weakened as well as a change in the geographic mix of activity and currency movements. 

There was a strong increase in short lead time searches across the industry, versus HBX Group booking data which showed strongest growth in 3-6 month lead time bookings, reflecting the Group’s bias toward high value distribution channels.

Accommodation grew faster than Mobility & Experiences, which was impacted by increased competition in the B2B space where scale is becoming increasingly important.

Recent goings on for the business, including the acquisition of Civitfun in May, and The Luxurist's progress launching in new markets and integration into the Group’s retail platform, Bedsonline, added to the company's success.

In Spain, revenue increased by 4% in Q3 with particular strength in the UK to Spain and China to Spain corridors partly offset by weaker domestic travel. 

The rest of Europe declined 3% reflecting decline in travel to Germany and the UK as well as low growth for Greece, Portugal and Turkey, partly offset by stronger growth in France. 

US arrivals into Europe declined while arrivals from China increased.

Middle East and Asia Pacific expanded 14%, with good growth across Asia Pacific supported by airline expansion, supportive economic environment and strategic investment in key markets such as Japan.

In the Middle East a good start to the period deteriorated due to escalating conflict and unrest resulting in double-digit declines in travel to destinations such as Saudi Arabia and Jordan.

Nicolas Huss, chief executive officer, said: “HBX Group has performed resiliently in the third quarter despite a challenging geopolitical environment leading to shifts in demand across travel corridors. 

"We took decisive action early in the quarter with targeted initiatives to drive growth. 

"These initiatives, powered by our advanced analytics and global reach, enabled us to adapt quickly and outperform the market.”