Hostelworld Still Pushing on Expansion Even With $4.5 Million Coronavirus Profit Hit
Skift Take
There's not much travel companies can do about the coronavirus outbreak. Like many of its peers, Hostelworld is having to execute its growth strategy in an unfavorable environment.
Online travel agency Hostelworld Group has warned that the spread of coronavirus might end up hitting profit by as much as $4.5 million (€4 million) in the first quarter of its financial year.
The company said it had was being squeezed on three fronts, all of which would hurt earnings.
Firstly, there was a general drop in bookings, initially in China and now in Europe, alongside this was an increase in cancellations and finally customer acquisition costs
