hostelworld

Hostelworld said on Thursday that its full-year earnings will be in line with expectations.

The company said that bookings will remain flat but it is currently working on a strategic review to boost bookings over the years.

“We are operating in an attractive and growing market, with a strong and trusted brand, providing relevant and valuable customers to the hostel sector,” said the group’s, chief executive Gary Morrison.

“We will invest in our core products, platform and capabilities as we strive to improve the hostelling experience for travellers and enhance our technology offering for the benefit of our core hostel partners.”

Hostelworld hopes to see a growth in bookings from 2020, with investment being spent in 2019.

“We continue to see strong underlying cash conversion in 2018. The rollout of our free cancellation product has started well and cancellation rates are performing in line with expectations,” said the group.

Shares in Hostelworld (LON: HSW) are trading +0.33% at 181,60 (1431GMT).