- Hostel-focused online booking platform Hostelworld said the deteriorating backdrop for travel demand had continued to impact performance in the fourth quarter of the year.

Booking demand was minimal and average booking value contracted, primarily driven by bed price deflation, the company said.

Monthly operating cash outflow of €1.7 million in Q4 remained in line with expectations.

For 2020, net bookings were in line with the guidance range of 20% to 22% of 2019, issued at the time of our October trading update.

Hostelworld said it was in negotiations with a short-list of selected lenders in relation to a new €30 million debt facility.

The proposed facility was expected to have a contractual maturity of five years, at a cost in the low to mid-teens.

At 8:21am: [LON:HSW] Hostelworld Group Plc share price was 0p at 74p

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