Company watch: Bookings boost for Hostelworld but Ukraine war casts a shadow

With net revenue up 10 per cent, the online travel agent remains cautiously optimistic, though concerns remain over Ukraine effect on fuel prices

Gary Morrison, chief executive of Hostelworld: concerned about the fallout from the invasion of Ukraine. Picture: Fergal Phillips

Bookings at Hostelworld have recovered to around 80 per cent of pre-pandemic levels, but rising fuel prices caused by the Russian invasion of Ukraine could lead to a fall off later this year, its chief executive has said.

In its annual results, the Dublin-headquartered online travel agent said it had experienced a “consistent recovery in weekly net bookings and revenues” in the 12 weeks to March 27.

It added that the current trends “are encouraging ...