Vacation rental marketplace HomeToGo has reported second quarter booking revenues of €64 million, up 27% year over year and a Q2 high for the company.
Meanwhile, half-year booking revenues hit €147 million, marking a 27% increase year over year.
Group revenue for the company increased 38% to €89 million for the first half of 2024, while for the quarter revenue was up 24% to €53 million.
Group adjusted EBITDA improved almost 19% to a loss of €19 million for the first half of the year, which the company said was in line with the seasonality of the business model. Adjusted EBITDA for Q2 was just over €2 million, up 54% year over year.
HomeToGo’s marketplace business increased revenue to almost €21 million, up 47% year over year, while onsite booking saw a 114% increase in revenue. The gains were attributed to the consolidation of the company’s acquisition of short-break specialists KMW Reisen and Super Urlaub.
Subscribe to our newsletter below
HomeToGo Pro, which covers the B2B software and service solutions part of the business, increased revenue by almost 19% to €4.2 million for the first half of the year. The figure represents 30% of total group revenues.
Commenting on whether there are signs of softening in the vacation rental market, Patrick Andrae, co-founder and CEO of HomeToGo, said, “When you look at Google trends and these types of things, the expectation was higher than we’re currently witnessing.”
He added that the company’s subscriptions and services side of the business makes it more resilient to the trends, highlighting the performance of Smoobu, its vacation rental software for hosts platform, as an example.
Andrae also said the acquisition of the short-break businesses and the ability to offer packages was also helping the company amid any softening in the market.
The company reiterated its full-year guidance of €250 million in booking revenues, up 30% year over year, and adjusted EBITDA of €10 million.
