Vacation rental metasearch business HomeToGo says its growth accelerated further in the first quarter of 2022.
Reporting results for the quarter, the company attributes the growth to “strategic wins across customer acquisition and retention, partners and supply, as well as technology.”
Patrick Andrae, co-founder and CEO of HomeToGo, says, “Looking ahead to the summer high season and as the travel market continues to recover, we are seeing our business scale at a fast pace.”
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He adds that the company’s onsite business continues to grow with the onsite booking share increasing to 55% in Q1 compared to the same quarter in 2021.
HomeToGo reported revenue of €19 million, double that of Q1 2021’s figure of €9.5 million.
Booking revenue came in at €43 million compared to €31 million year-on-year.
Revenue for the subscription and services more than doubled to €3.2 million in Q1 2022 versus €1.5 million year-on-year, with HomeToGo highlighting a strong contribution from Amivac,which it acquired earlier this year.
Adjusted EBITDA was reported at €22 million with the company anticipating higher levels later in the year because of marketing expenses in the first half of the year.
HomeToGo has updated its outlook for the year off the back of its growth and recent acquisition of e-domizil for €40 million.
It says it expects revenue to increase between 40- and 50% year-on-year with EBITDA of between €22 million and €32 million.
Andrae has previously said the company expects to make further acquisitions that will focus on geographic expansion, boosting onsite bookings and businesses around its subscriptions and services unit.