Hostelworld boss positive on growth

• Despite difficult trading conditions since the IPO last year, the Hostelworld chief executive has big plans for the ongoing development of its app

Fearghal Mooney, the Hostelworld chief executive, says shareholders are happy with the online booking firm’s performance Pic: David Parry

It’s been a tough year for Fearghal Mooney, chief executive of Irish online travel booking company Hostelworld.

Overall revenues have fallen by 4 per cent; average booking values fell; revenues in its key market of Europe fell from €53.8 million to €49.4 million; the total number of transactions it handled dropped by 1 per cent; and the company’s share price is 20 per cent below its level a year ago.

Nevertheless, Mooney is ...