VRMA Administrator
Germany-based vacation rental marketplace HomeToGo has reported booking revenue of €43 million for the third quarter, a 53 percent year-over-year gain fueled by high volume of last-minute bookings in July and August. In the previous third quarter HomeToGo saw €28 million in booking revenue, and the company reported €70 million in International Financial Reporting Standard (IFRS) revenues for the latest third quarter, a 60 percent increase from €44 million a year ago. The company's onsite booking revenue grew 29 percent to €16 million versus €13 million in the third quarter last year, while onsite business share was just over 45 percent of booking revenue compared to 50 percent a year ago. HomeToGo said this reflected growth in offsite business alongside onsite because of last-minute demand. Subscriptions and services IFRS revenue rose 246 percent year-over-year from €2.4 million to €8.5 million, partly thanks to earnings from business-to-business software-as-a-service solution Smoobu, which HomeToGo acquired last year. "In this post-pandemic travel rebound, the long-term trend towards alternative accommodation has continued to accelerate," said HomeToGo CEO Patrick Andrae. "Even as we are facing a period of global macroeconomic uncertainty, the travel sector showed continuous resilience and vacation rentals are the preferred choice."
PhocusWire (11/10/22) Linda Fox
