HomeToGo saw revenue increase to €162 million in 2023, up 10% year over year.
Reporting preliminary financial results for the 2023 fourth quarter and full year, the company said revenue for the fourth quarter increased 14% to €24 million.
HomeToGo also said it had achieved its main priority of adjusted EBITDA break-even for the year with the figure coming in at €2 million, ahead of full-year guidance.
Booking revenues for the year hit €190 million, up from €164 million in 2022.
The vacation rental platform said its performance was driven by its subscriptions and services business, which saw revenue increase to €35 million in 2023, up 48% year over year. HomeToGo said the subscriptions and services business now represents 22% of total revenue.
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Patrick Andrae, co-founder and CEO of HomeToGo, said, “2023 was another milestone year for HomeToGo as we achieved our number one priority for the year: Reaching adjusted EBITDA break-even. This significant step, combined with generating more than 20% of HomeToGo’s IFRS revenues from our subscriptions and services business, is a testament to the hard work and dedication of our team, and demonstrates our commitment to delivering on the promises we made during our IPO in 2021. We also started 2024 with a new record booking revenues backlog - especially remarkable given our clear focus on profitability and significantly improved marketing efficiency in 2023. Beyond our financial achievements, 2023 saw us lead the vacation rental industry in artificial intelligence, secure an industry-leading ESG rating, sign binding documents for our largest ever acquisition, introduce HomeToGo_PRO - our new B2B brand and business segment - and more. As we enter 2024, our 10th year as a company, we are confident to reach more new heights as we continue on our ambitious growth journey.”
In December, HomeToGo highlighted a number of initiatives and growth opportunities that it plans to pursue in 2024.
The company said it had a vision to be “fully AI powered” and would continue rolling out its modes following the launch of its curated search AI mode last year.
It also touched on its mergers and acquisitions strategy, saying it was “accelerating deal flow.”
More recently, HomeToGo announced the acquisition of a 51% stake in short-break specialists KMW Reisen and Super Urlaub.