Peter Fader’s Post

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Professor of Marketing, the Wharton School of the University of Pennsylvania

Watch this interview with Gary Morrison of Hostelworld Group. This is #CustomerCentricity in action. Brilliant CEO, strategy, and implementation.

Last week I discussed our 2023 preliminary results and wider travel industry trends with Ian King on Sky News Business Live   I am pleased to report another strong year for Hostelworld Group, with record revenues (+32% YoY), growth in market share and adj. EBITDA of €18.4M. These results have been powered by our unique Social strategy, which focuses on helping our travellers find people to hang out with, and the amazing Hostelworld Group team who made it all happen. In particular, our marketing costs as a percentage of revenue also fell from 51% in the first half of the year to 48% in the second half of the year, which demonstrates the ability of our unique app centric social strategy to grow market share whilst reducing marketing costs.   I am also very proud of the progress we made with respect to our ESG Agenda, with the recent launch of our “Staircase to Sustainability” platform in collaboration with the Global Sustainable Tourism Council (GSTC). This platform not only provides the means for Hostels to showcase their sustainability credentials versus industry standards to customers on our platform, but also encourages our Hostels to progress towards even more sustainable operations over time.   I’d like to thank the fantastic Hostelworld Group team for their unwavering support and dedication!   Many thanks to Ian King for having me on. Watch the full interview below!

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