Hotelbeds doubled losses in its 2019 exercise, which ends on September 30, while reducing revenue and room-nights, according to the annual report of the bedbank to which it had access preferente.com. Net losses amounted to 82 million euros in its 2018 fiscal year which ended in September of that year to 169 million, slightly more than double (Hotelbeds dispenses with executives to renew its commercial area).
The total value of the transactions was reduced by 7.4 percent year-on-year in the year 2019, going from 6,449 million euros a year earlier, to 5,971 million last year, which Hotelbeds justifies in its report that the integrations of its competitors Tourico and GTA took “longer than expected and caused some specific operational interruptions.”
Thus, the net value of its real income was also reduced by spending in just one year of 846 million in its fiscal year of 2018 until falling to 819 in that of last year, after the giant lost in just one year more than 5 million room-nights, from 49.9 million in 2018 to 44.4 million last year, which meant a crash of 11 percent.
Despite this, its operating expenses rose, from 516 million in 2018 to 521 million in its last fiscal year, despite the round of layoffs that Hotelbeds highlights in its annual report, specifying that these departures had already been “formally notified to affected employees ”(Hotelbeds: room-nights sold plummet 11% in a single year).
Hotelbeds had to lay off 200 people last year, by reducing its workforce until leaving it at 4,818 workers as of September 30, 2019, thereby saving 17 million labor costs, leaving that date at 236 million annually compared to 253 million from the previous fiscal year, as revealed in its annual report.
The same annual report also shows a decrease in its income in its main market, the United States, where with only one year apart, it went from entering 174 million in the annual year that ended in September 2018 to 137 million in which it ended in 2019, which represents a crash of 21 percent.
Hotelbeds, qualified as the world’s largest bedbank, must pay 1,008 million euros of its syndicated debt to a group of banks in 2023, and two years later, in 2025, it should pay 400 million, as stated in the financial report Annual for its 2019 exercise that ended on September 30 and had exclusive access preferente.com (Notice for Hotelbeds: double your losses and low income).
The Ebitda of Hotelbeds in the last two years was 202 million for its fiscal year 2018 and 237 million for the period between October 2018 and September 2019, a fiscal year in which as revealed preferente.comthe bedbank doubled its net loss from 82 million to 169 million, and in which its income was reduced by 7.4 percent, falling below 6,000 million, and its room-nights plummeted 11 percent, to descend to 44.4 million.
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