DAVY VIEW

Hostelworld has announced the acquisition of OccasionGenius, a US-based B2B event discovery platform, for $12m/c.€10.3m. Its dataset provides a city-by-city catalogue of local things to do, which encourages travellers to book trips. The CEO notes that this acquisition allows it to supercharge the Hostelworld platform with a wealth of content that would take years to build organically. At its Capital Markets Day, management clearly flagged that it would deploy capital to pursue growth opportunities. The balance sheet will remain in a strong position post-acquisition (net cash was €6.1m at H125).