Hostelworld has hit a sweet spot in business where its net revenue in its financial year 2023 increased by 34 per cent to a record €93.3 million, but its operating expenses rose by only 5 per cent to €88.4 million. From being a Covid-19 recovery play, the business is demonstrating a model that can outperform in normal times. Hostelworld recorded earnings before tax, interest, depreciation, and amortisation (Ebitda) of €18.4 million, versus earnings of €1.3 million in 2022 as travel moved post-Covid. Talking to Hostelworld’s chief financial officer Caroline Sherry just after 8am on Thursday morning, my first question was…

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