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.
CEO Gary Morrison has shaken things up since taking over at Hostelworld last year. His new strategy will take time to play out, but as a niche business, it seems sensible to try and do things differently from the big, generalist online travel agencies.
Although this looks like a smooth change at the top, we'll have to keep an eye on whether the new CEO deviates from the path the company has set itself on in recent years.
It’s probably a tiny blip on the radar of Priceline and Expedia but Hostelworld is quietly building up a nice niche business. How long can it be before one of the bigger players shows an interest?
Now that Hostelworld has largely finished integrating Hostelbookers, it can turn its attention to developing features that would make it more relevant to users during their travels. None of the initiatives are exactly game-changing, but what the company is hoping is that it will make travelers more likely to click on its app rather than that of a competitor.
Across the United States, hostel markets are growing. With new locations popping up in major cities like Miami and Chicago, it’s time to take a look at what’s holding New York City back.