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Dec 19 2018, 07:10 GMT
Growth has been an elusive feature of Hostelworld’s performance since its IPO, where impressive shareholder returns (€48m over three years) outshone investment in the platform. Its new strategy, we believe, finally gives the company an identity closer to that of its core market and its young, dynamic customers. We expect the new strategy to bear fruit from 2020 – at just 8.0x FY19 EV/EBITDA, Hostelworld offers investors cheap accommodation to rest and recuperate for the journey ahead.