Hostelworld Group PLC has released a trading update for the period up to 30 September 2023. The company reported record year-to-date (YTD) net gross merchandise value (GMV) of €496.4 million, a 38% increase compared to the previous year. YTD revenue also reached a record high of €75.2 million, up 38% year-on-year. Net bookings totaled 5.0 million, a 43% increase compared to the previous year, driven by strong booking growth across all regions. Southern Europe, Asia, and Oceania destinations remained ahead of pre-pandemic levels. The net average booking value was €14.94, a 4% decrease year-on-year, due to a greater proportion of Asian destination bookings and bed price inflation. Direct marketing as a percentage of revenue amounted to 51%, down 10% year-on-year, driven by the company's social strategy. The company had a closing cash position of €8.1 million and a net debt position of €13.4 million as of 30 September 2023. The interest rate on the company's debt facility with Allied Irish Banks plc was reduced from 3.25% to 2.65% over EURIBOR. Hostelworld now expects adjusted EBITDA to be in the range of €17.5 million to €18.0 million for FY23, up from the previous guidance of €16.5 million to €17.0 million. The company remains confident in its business model and its ability to deliver long-term profitable growth.