Hostelworld (GB:HSW) has released an update.
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Hostelworld Group PLC reports a positive trading update with a 7% year-on-year increase in net bookings, largely due to robust performance in Asia and Central America. Despite a slight drop in net average booking value and net revenue, the company has achieved a 28% increase in year-to-date adjusted EBITDA and boasts a cash-positive balance sheet with all bank debt repaid. This strong financial outcome is attributed to efficient marketing via their social network and a strategic focus on cost control.
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