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May 13 2021, 06:45 IST/BST
Hostelworld meets the key criteria to be considered a high-grade recovery play — it is sensitive to improving demand and easing restrictions, its restructured cost base ensures operating leverage and it has the financial stability to pursue the opportunities ahead. Furthermore, it has structurally enhanced its platform, priming the equity story for an eventual shift to one of outright growth. Using five modest valuation methodologies, we identify 50% upside.