연차보고서 발간 및 주주총회 고시
LEI: 213800OC94PF2D675H41
2 4월 2024
호스텔월드 그룹 plc
("호스텔월드" 또는 "회사")
2023년 연차보고서 발간 및 2024년 연차총회 공지
연례 보고서 및 계정
세계 최고의 호스텔 중심 온라인 예약 플랫폼인 Hostelworld는 오늘 2023년 연례 보고서를 게시했거나 주주들에게 공개한다고 발표하게 된 것을 기쁘게 생각합니다.
연례 총회
The Company confirms that its Annual General Meeting will be held at 12 noon on Thursday 2 May 2024 at the offices of the Company, Charlemont Exchange, Charlemont Street, Dublin 2, Ireland. A Circular, containing the Chairman's Letter and Notice of 2024 Annual General Meeting, and a Form of Proxy have also been posted or are being made available to shareholders today.
검사 가능한 문서
다음 문서:
· 2023년 연례 보고서;
· 회장 서한 및 2024년 연례 총회 통지가 포함된 회람; 그리고
· 위임장 양식;
National Storage Mechanism 및 아일랜드 증권 거래소(Euronext Dublin으로 거래)를 통해 Financial Conduct Authority에 제출되었으며 곧 다음 위치에서 검사를 받을 수 있습니다.
국가 저장 메커니즘: https://data.fca.org.uk/#/nsm/nationalstoragemechanism
과:
유로넥스트 더블린:
기업 공시실,
유로넥스트 더블린,
28 앵글시 스트리트,
더블린 2
와 https://direct.euronext.com/#/oamfiling
2023년 연례 보고서도 아일랜드 중앙은행에 제출되었습니다.
2023년 연차 보고서(ESEF 준수 형식), 2024년 연차 총회에 대한 회장 서한 및 통지가 포함된 회람 및 위임장 양식은 회사 웹사이트(www.hostelworldgroup.com)에서 확인할 수 있습니다.
규제 정보
DTR 6.3.5(1A)에 따라 DTR 4.1에 따라 공개해야 하는 규제 정보의 편집되지 않은 전체 텍스트는 National Storage Mechanism에 업로드된 2023 연례 보고서에 포함되어 있으며 회사 웹 사이트에서 사용할 수 있습니다. www.hostelworldgroup.com.
2023년 연례 보고서에서 발췌한 부록에 명시된 정보는 아일랜드 투명성 규정 33(개정판)의 규정 5(2007)(b)(ii) 및 다음에 대한 요구 사항을 준수하기 위해 포함되었습니다. 공개 연간 재무 보고서를 작성하는 방법. 부록의 정보는 www.hostelworldgroup.com에서 볼 수 있는 31년 2023월 21일에 발표된 2024년 33월 5일 마감 연도의 회사 예비 결과와 함께 읽어야 합니다. 이러한 것들은 규정 XNUMX(XNUMX)(b)(ii)에 따라 규제 정보 서비스를 통해 편집되지 않은 전체 텍스트로 전달되어야 하는 자료를 구성합니다.
연락처 :
호스텔월드 그룹 plc
John Duggan, 법률 고문 및 회사 비서
전화: +353 (0) 86 022 3553
충수:
이사의 책임 성명서
The Directors are responsible for preparing the Annual Report and the Group and Company Financial Statements, in accordance with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each financial year. The Directors are required to prepare the Group financial statements in accordance with UK-adopted international accounting standards and applicable law. The Directors have also elected to prepare the Group financial statements in accordance with International Financial Reporting Standards adopted pursuant to Regulation (EC) No 1606/2002 as it applies in the European Union and to prepare the parent Company financial statements in accordance with FRS 101 Reduced Disclosure Framework (the "Relevant Financial Reporting Framework") and applicable law. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the assets, liabilities and financial position of the Group and Company and of the profit or loss of the Group for that period.
In preparing the Parent Company Financial Statements, the Directors are required to:
· 적절한 회계 정책을 선택한 다음 일관되게 적용합니다.
· 합리적이고 신중한 판단 및 회계 추정을 합니다.
· 재무 보고 표준 101 축소 공개 프레임워크를 따랐는지 여부를 명시하고 재무 제표에 공개 및 설명된 중요한 변경 사항이 있는 경우를 조건으로 합니다. 그리고
· 회사가 사업을 계속할 것이라고 가정하는 것이 부적절하지 않다면 계속기업 기준으로 재무제표를 작성하십시오.
In preparing the Group Financial Statements, International Accounting Standard 1 requires that Directors:
· 회계 정책을 적절하게 선택하고 적용합니다.
· 적절하고 신뢰할 수 있으며 비교 가능하고 이해 가능한 정보를 제공하는 방식으로 회계 정책을 포함한 정보를 제공합니다.
· IFRS의 특정 요구 사항을 준수하는 것이 불충분하여 사용자가 그룹의 재무 상태 및 재무 성과에 대한 특정 거래, 기타 이벤트 및 조건의 영향을 이해할 수 없는 경우 추가 공시를 제공합니다. 그리고
· 계속기업으로서 존속할 수 있는 회사의 능력을 평가하십시오.
이사는 회사의 거래를 보여주고 설명하기에 충분한 적절한 회계 기록을 보관할 책임이 있으며, 언제든지 회사의 재무 상태를 합리적으로 정확하게 공개하고 재무제표가 2006년 회사법을 준수하는지 확인할 수 있습니다. 또한 회사의 자산을 보호할 책임이 있으므로 사기 및 기타 부정 행위를 방지하고 적발하기 위한 합당한 조치를 취할 책임이 있습니다.
이사는 회사 웹사이트에 포함된 기업 및 재무 정보의 유지 및 무결성에 대한 책임이 있습니다. 재무제표 작성 및 배포를 규율하는 영국 법률은 다른 관할권의 법률과 다를 수 있습니다.
책임 성명서
우리는 우리가 아는 한 다음을 확인합니다.
· The Group Financial Statements, prepared in accordance with IFRS as adopted by the European Union and the Company financial statements prepared in accordance with FRS 101 Reduced Disclosure Framework, give a true and fair view of the assets, liabilities, and financial position of the Group and Company as at 31 December 2023 and of the profit or loss of the Group for the year then ended. The Strategic Report includes a fair review of the development and performance of the business and the position of the Company, and the undertakings included in the consolidation taken as a whole, together with a description of the principal risks and uncertainties that they face; and
· The Annual Report and Financial Statements, taken as a whole, provides the information necessary to assess the Group's performance, business model and strategy and is fair, balanced and understandable. It also provides the information necessary for shareholders to assess the Group's position and performance, business model and strategy.
이 책임 선언문은 20년 2024월 XNUMX일 이사회에서 승인되었으며 이사회를 대신하여 다음과 같이 서명되었습니다.
존 더간
회사 비서
월 20 2024
주요 위험 및 불확실성:
Introduction to Group Risk Register
Our business model and results are subject to risks and uncertainties which could adversely affect our business, financial stability, and cash flows. Risk is an inherent factor. While demand for hostelling returned in strength post the impact of COVID-19, inflation, cost of living and geopolitical tensions are new risk factors which can impact demand. We also recognise, in particular, that climate change poses a number of physical and transition-related risks for our business.
The most material risks and uncertainties impacting the business are listed on below, together with comments on how they are managed to minimise their potential impact. The table is not prioritised nor an exhaustive list of all risks that may impact the Group. Individually or together, these risks could affect our ability to operate as planned and could have a significant impact on revenue and shareholder returns. Additional risks and uncertainties, including those that have not been identified to date or are currently deemed immaterial, may also, individually, or together, have a negative impact on our revenue, returns, or financial condition.
Each risk identified is subject to an assessment incorporating the likelihood of occurrence and potential impact on the Group. The Group's Risk Register identifies key risks including any emerging risks, and monitors progress in managing and mitigating these risks. Emerging risks are identified from areas of uncertainty, which may not have a significant impact on the business currently but may have the potential to adversely affect the Group in the future. No new emerging risk was identified in the current year.
Risk Responsibility
The Board takes overall responsibility for identifying the nature and extent of the risks to be managed by the Group to ensure the successful delivery of its strategic and business priorities. The Audit Committee monitors certain risk areas and the internal control system, as set out in the report on governance. The Board and Audit Committee conduct a formal half-year and full-year review of the risk register, which also incorporates the 기후 관련 재무 공개 태스크포스("TCFD") Risk and Opportunities Register. In their review proactive attention is given to key risks where the probability of occurrence and extent of impact are elevated by the consequences of the ongoing geopolitical conflict in Ukraine and the Middle East, and the deteriorating global economic outlook.
위험 식별
The Group's Risk Register process is based upon a standardised approach to risk identification, assessment, and review with a focus on mitigation. There is input across all levels of the business to enable the Group to remain responsive to the ever-changing operating environment, including the impact that social features can bring, the consequences of the ongoing war in Ukraine and geopolitical tension, climate change, rising cost of living, and the general macroeconomic conditions including rising interest and inflation costs.
From the bottom-up, risk is identified and mitigated at a business unit level by the executive management team, functional leads, their teams, and subject matter experts including the Data Protection Officer and Head of IT Security. Risks are assigned owners amongst the senior management team (primarily functional leads) who monitor risks day to day, review the effectiveness of controls in place, and report on risks through the risk register process. The Group's risk register is subject to review by the Executive Leadership Team ("ELT") prior to reporting to the Audit Committee and Board. In addition, the ESG Steerco also support the ELT in identifying climate-related risks and opportunities and ensuring compliance with the applicable ESG regulatory landscape.
Risk oversight, appetite and governance is set by the Board. The Board has overall responsibility for determining the nature and extent of the risks it is willing to take in achieving the Group's strategic objectives.
위험 수준
Following an assessment of the residual risk attached after internal management and mitigation, each principal risk outlined below has been assigned a direction of change based on 2023 factors and forward expectations. Where a risk has increased or decreased in the year an additional note has been included.
전략적 및 외부 위험
Any external risks outside of the Group's control impacting our business. | 기술, 사이버 및 데이터 위험
The systems we use to power our business, and the data we hold. | 재정적 위험
Integrity of reporting and viability of the Group. | 운영 및 규제 위험
The processes and people we use to power the Hostelworld model. |
- Macroeconomic Conditions - Competition - Impact of Uncontrollable Events on our Business and the Leisure Travel Industry | - Data Security - Cyber Security - IT Platforms and Technological Innovation - Search Engine Algorithms and Managing our Marketing Channels | - Financial Risk - Taxation | - People - Third Party Reliance - Climate Change and Sustainability - Regulation - Business Continuity - Brand and Reputation |
아니 | 범주 | 설명 및 영향 | 관리 및 완화 | Direction of Change |
1 | 거시경제적 여건
| 그룹의 재무 성과는 여행 서비스의 광범위한 가용성과 수요에 크게 좌우됩니다.
Travel services are enabled by the freedom of movement of people nationally and internationally without prohibitive restrictions. Moreover, it is supported by affordable air, ferry and train fares at significant scale, and similarly good access to affordable accommodation.
여행 서비스에 대한 수요는 다양한 거시경제 상황과 소비자 재량 지출 수준에 미치는 영향에 의해 영향을 받습니다. 경제 활동, 고용 수준, 인플레이션, 이자율, 통화 변동 및 신용 이용 가능성은 여행 수요에 영향을 미칠 수 있는 요인 중 하나입니다. | Management and the Board regularly monitor a range of trading, market, and economic indicators to determine any risk to financial performance due to macroeconomic uncertainties, and any potential mitigating actions required. The Group's revenue and customer base is global, with a dispersed population of users, and a geographically dispersed set of destinations. While market conditions may decline in certain regions, the globally diversified nature of the business helps to mitigate this with circa 50% to 60% of destination markets in Europe versus the rest of the world. Inflation rates can impact consumer discretionary spending and reduce their ability to travel. However, this is potentially offset by continued preference of consumers to prioritise discretionary spending on travel and leisure in their budgeting. In circumstances where events cause a material decline in consumer travel behaviours and patterns on a global scale, management will take necessary actions to reduce operating costs and conserve cash. | Steady arrow |
2 | 데이터 보안 | We're an innovative technology group relying on advanced software and infrastructure, which means we can be exposed to cyber security threats. Protecting our e-commerce data and customer information is crucial.
Our hybrid model, global contractors, and evolving social strategy heighten data security challenges.
Cloud migration finished in 2022, but cloud security risks persist. Technological speed and legislation gaps can complicate compliance with guidelines and laws. GDPR adherence and secure, scalable IT platforms are vital. | Data protection is a priority for the Group. We comply with laws, regularly train employees, address threats and support business innovation and growth.
We have a robust and comprehensive data privacy, security, and compliance programme. A supplier is not onboarded until a rigorous review of their data protection compliance and IT security controls has been carried out and deemed satisfactory.
We adhere to leading industry standards and are PCI compliant. A data protection framework aligned with GDPR is maintained, with a Data Protection Officer, supported by employee champions.
Hybrid work risks are assessed, and security measures include Single Sign On and Multi Factor Authentication. Expert providers support us with cloud services and security. Our evolving social strategy and broader product developments are implemented in line with Privacy by Design, following guidelines and emerging innovations with a risk-based approach. | Steady arrow |
3 | 사이버 보안 | The Group is susceptible to cyberattacks, which can impact system integrity and data security. Hackers' sophistication is constantly evolving, complicating risk management.
Cloud migration adds further cyber security challenges, potentially compromising customer and proprietary data. Third-party vendors or contractors can also be entry points.
Inadequate skills internally might risk cloud data exposure and insurers could limit coverage for cyber security incidents. | The Group dedicates significant resources to enhancing cyber security and regularly increases expenditure.
A comprehensive risk programme manages vendor and third-party risks. Our procurement process is robust, proactively ensuring new suppliers are security compliant.
Additional cyber security measures taken:
· Monitoring tools enable real-time threat detection and response. · Policies and initiatives adapt to regulations and cyber threats. · Mandatory security awareness training is consistently updated. · Cloud-related training ensures skills are developed. · Multi-factor authentication is implemented for better access control and attack resilience. | Steady arrow |
4 | 사람들 | The Group relies on skilled, committed, and motivated employees for strategic success. However, the decision to maintain a stable headcount and not replace roles to pre-COVID-19 levels, combined with the transition to largely remote working may affect morale.
The Group is dependent on attracting and retaining key roles in engineering, quality assurance, product management, and data roles to facilitate projects and maintain product infrastructure. These roles can be hard to fill due to location flexibility and competitive market demands.
Failure to meet industry standards in rewards could lead to attrition, lowered morale, business risks, damaging reputation, and productivity.
Direction of change: Decrease in overall risk in the current year evidenced by low attrition levels and the Group being a more attractive proposition for new talent given the recovery in the business post COVID-19.
| The Group takes action to retain employees, by introducing innovative people policies, moving to a remote working model, and by increasing the volume and scope of employee events.
Learning and development initiatives have been prioritised and include training, mentoring, and a new online platform.
Compensation is benchmarked externally, giving employees assurance that salaries are competitive. During 2023 the Group also introduced a bonus scheme tied to performance.
To provide flexibility of key talent, the Group operates from three global offices and continues to hire in newer locations including Germany, Spain, and Italy.
비상임 이사는 2018년 영국 기업 지배 구조 규정에 명시된 대로 인력 참여 역할을 수행합니다. | 아래쪽 화살표 |
5 | 재정적 위험 | 그룹의 활동은 다양한 재무 위험에 노출됩니다. 그룹의 수익과 비용은 인플레이션율 상승의 영향을 받아 고객의 여행을 방해할 수도 있습니다.
외환 이동은 한 시장에서 다른 시장으로의 이동(다른 통화로 운영)이 더 비싸기 때문에 고객의 여행 결정 및 여행 패턴에 영향을 미칠 수 있습니다. 또한, 연결실체는 시간의 경과에 따라 가치가 변하는 외화의 잉여금 또는 적자금액이 있는 경우 발생하는 환산위험에 노출되어 있습니다.
The Group has a 3-year finance facility in place with Allied Irish Banks, plc comprising of a €10 million term loan, a €7.5 million revolving credit facility ("RCF") and an undrawn €2.5 million overdraft. The term loan and RCF each have an initial interest rate payable of 3.75% over EURIBOR, reducing to 3.25% where the ratio of net debt to adjusted EBITDA is less than 2 times and, 2.65% where the ratio is less than 1 times.
The facility includes a customary security package and financial covenants. The Group must deliver a certain level of financial performance to meet its repayment and covenant obligations. | The Group proactively manages financial risk by seeking to minimise potential adverse effects on its financial performance.
외환 이동은 고객의 여행 결정 및 여행 패턴에 영향을 미칠 수 있지만 일반적으로 어느 정도 내재된 헤징이 있습니다. 정상적인 거래 환경에서 USD 수익 영수증은 FX 환산 위험을 완화하는 관련 USD 마케팅 유출과 비슷합니다. 그룹은 예상되는 유출 요건을 초과하는 초과 비유로화 보유를 최소화합니다.
그룹은 주요 비율 및 KPI를 포함하는 예측 및 보고 프레임워크를 수립했으며, 이는 대출 기관의 의무 및 약정을 준수하고 이자를 포함한 상환 조건의 경제성을 보장하기 위해 경영진이 정기적으로 검토하고 문제를 제기합니다. | Steady arrow |
6 | 경쟁 | Competition risks could harm market share and growth. Competitors willing to operate at a loss pose challenges. Price influences consumer decisions, requiring competitive pricing, discounts, and flexible cancellation policies.
Competition might lead to losing key suppliers. Large market players and disruptive new entrants pose risks. They may absorb revenue losses and/or additional costs to compete on price or bidding strategy, their ability to grow core inventory base (both in terms of property count and destination coverage), and their ability to enhance product features faster through depth of resources.
Changes in technology, such as AI or other, can impact the Group both positively and negatively.
Changing customer behaviour, such as preferring private rooms (as seen during COVID-19), could reduce demand or raise acquisition costs.
Exclusive supply to competitors, new Digital Markets Act regulations, and evolving market dynamics may influence the competitive landscape and affect the Group's positioning in the market. | Continuous monitoring of hostel coverage and market share guides the Group's proactive acquisition and retention strategy.
The Group's strategy focuses on leveraging its unique market position through targeted customer acquisition and optimising the profitability of existing customer cohorts, emphasising Customer Lifetime Value/Customer Acquisition Cost.
There's a continued focus on improving platform flexibility, enhancing customer experience, and global expansion.
Partnerships deliver advanced technology solutions, aiming to diversify from exclusive OTA reliance with a broader experiential travel offering. Commercial agreements secure competitive rates and inventory, utilising the "Solo System" and "social cues" to deter competition. The Group explores AI and new distribution channels for customer acquisition and remains adaptable to market changes. | Steady arrow |
7 | IT Platforms and Technological Innovation | Over recent years the ever-increasing pace of change of new technology, new infrastructure, and new software offerings have changed how customers research, purchase, and experience travel. Notable shift changes include AI, mobile networks, mobile applications, meta-search providers, display advertising, and social communities. 기술 혁신과 변화에 계속 뒤처지지 않으면 현대 고객과 무관하게 될 위험이 있습니다. 기술은 빠르게 발전하고 업데이트는 빠르게 구식이 될 수 있습니다.
As new products and features are offered the relevant cybersecurity controls must keep pace or risk new exposures. | 우리는 기술 개발 및 고객 행동의 새로운 트렌드를 최신 상태로 유지하는 데 중점을 둡니다.
We invest a significant amount of our product and user experience functions on research and development and interacting with similar companies both within and external to travel.
우리는 파트너십의 기능을 활용하여 고객과 호스텔 파트너에게 동급 최고의 첨단 기술 기반 솔루션을 제공하고 있습니다.
그룹은 핵심 플랫폼에서 더 빠른 실행을 지원할 수 있도록 기본 플랫폼의 지속적인 현대화를 계속해 왔습니다. | Steady arrow |
8 | 제XNUMX자 의존 | We rely on hostel accommodation providers to supply us with our inventory. Any constraints upon the supply of hostel inventory may stem growth ambitions.
Revenue depends on connected hostels and third-party channels; lack of updates or outages may cause competitiveness loss. Financial pressures on partners risk business closure or category shift.
Relying on third parties for systems poses revenue and functionality risks, affecting customer service and brand.
Maintaining relationships with payment processors is crucial, as fee changes or unfavourable terms could impact transactions. | Nurturing hostel and vendor relationships is a priority. This close cooperation enables us to monitor market development.
Rigorous assessment and due diligence is applied to third-party providers. All vendor contracts and purchasing requests must be processed through the Group's purchasing & contract review process.
Service providers are contractually obliged to provide timely resolutions to issues. Alerts are in place to immediately capture any downtime and replicate as much functionality as possible in-house.
Annual business reviews and contractual obligations ensure risk mitigation. Readiness for partner/service provider failure includes financial health monitoring and risk reduction measures. | Steady arrow |
9 | Search Engine Algorithms and Managing our Marketing Channels | A significant portion of our website traffic comes from search engines, both through organic and paid searches. We rely on Search Engine Optimisation and Search Engine Marketing for visibility.
Search engine algorithms, like Google's, constantly change, affecting our placement and costs. AI-powered platforms are further influencing search results, making algorithm management and optimisation crucial for our marketing strategy and efficiency. | The Group invests in skilled personnel for paid and non-paid searches. In-house expertise and technology adapt to algorithm changes.
The search marketing team collaborates with Google, gaining search traffic efficiency insights. Participation in alpha and beta tests give the Group first mover advantage with new functionality that can help drive efficiency.
Skill enhancement through third-party vendors complements in-house capabilities for search engine optimisation. | Steady arrow |
10 | 기후 변화와 지속 가능성 | Increasingly, internal and external stakeholders are focused on the Group's response to climate change. There is a request for more accountability from our customers, employees, and other stakeholders as to what the Group is doing to limit its direct and indirect impact on climate change. There is a risk that we do not meet shareholder expectations regarding our target setting and performance against creating a more sustainable operating environment.
Listing rule developments require reporting on climate disclosures (by virtue of TCFD).
There is a risk that the Group is perceived as not being transparent in its reporting. Physical climate change risks such as extreme weather events could affect our inventory competitiveness and results of operations. In addition, transitional climate change risks such as changes in stakeholder expectations, travel patterns, technologies, and policy and regulation may affect the Group and results of operations.
Direction of change: Increased risk driven firstly by increasing regulations that the Group will have to comply with such as the EU Corporate Sustainability Reporting Directive and secondly the unknown impact climate change can have on our business if not managed. Physical impacts of climate change such as drought, heatwaves and warming oceans will impact our hostels and our trade. | The Group have ESG and TCFD Steercos who govern the actions taken by the Group in relation to climate change. The steercos receive specific training from a third-party provider, and engage with third parties' specialists for additional support where required.
We have committed resources internally to assisting hostels and consumers on their own sustainability journeys.
Climate change issues may impact travel decisions and travel patterns by customers but is mitigated to the extent that our business is a global one. We have a dispersed population of users, and a geographically dispersed set of destinations. | 증가 |
11 | Impact of Uncontrollable Events on our Business and the Leisure Travel Industry | The emergence of a global pandemic (similar to COVID-19) could result in national or international lockdowns, risk to the health of our employees and customers, and consequential negative impact on economic activity.
Deterioration in the financial condition, restructuring of operations or limited resource availability at one or more key stakeholder in our supply chain eco-system could impact our growth.
The threat of terrorist attacks in key cities and on aircraft in flight may reduce the appetite of the leisure traveller to undertake trips, particularly to certain geographies, resulting in declining revenues. Geopolitical conflicts, climate change, natural disasters, or other adverse events outside of the control of the Group may also reduce demand for or prevent the ability to travel to affected regions.
Direction of change: Decrease driven by recovery in business from the impact COVID-19 had on our business. | 우리의 목표 18-34세 인구는 목적지에 대해 융통성이 있는 경향이 있으며 불리한 위험이 적습니다. 이들의 여행은 임의적이거나 선택적인 휴가라기보다는 '통과 의례'인 경향이 있어 이러한 위험에 대한 혐오감이 적고 제한 사항을 피해 여행을 구성하는 데 더 많은 유연성을 제공합니다.
We maintain a close working relationship with our hostel partners to ensure we monitor key developments in the market and can take timely mitigating actions if necessary.
Risk assessment and due diligence controls are carried out by our dedicated procurement function and relevant business owner in respect of each third-party provider.
| 아래쪽 화살표 |
12 | 규제 | The Group faces regulatory and legal challenges in its global operations. We are exposed to issues regarding competition, licensing of local accommodation and experiences, language usage, web-based trading, consumer compliance, tax, intellectual property, trademarks, data protection and information security and commercial disputes in multiple jurisdictions.
It's crucial that the Group complies with the Task Force on Climate-Related Financial Disclosures and stays abreast of evolving sustainability regulations.
The Group is subject to various regulations, including payment card association rules, the EU Package Travel Directive, and rules on cookies usage (impacted by GDPR and ePrivacy Directive). The Digital Services Act also imposes content moderation and transparency obligations. Increased scrutiny of the mechanisms to transfer personal data to third countries such as in relation to the EU-US Privacy Shield and Standard Contractual Clauses create uncertainty in relation to international transfers of personal data. The California Privacy Rights Act introduces new privacy requirements. New sign-up regulations, like DAC 7 EU Tax directive, may slow operations, impact property categorisations, and result in closures due to changing local laws. Ongoing legal developments pose potential constraints, compliance costs, and business harm for the Group. | The legal team keeps abreast of current and anticipated legal requirements, and consult with external legal advisors on territory specific legal and regulatory issues.
Qualified and experienced in-house lawyers ensure consumer compliance, listing rules, governance code, and Market Abuse Regulations adherence.
TCFD governance structure and third-party monitoring ensure compliance with climate changes.
External insurance brokers are appointed to optimise insurance terms reflecting industry standards.
Payment options are expanded for customer efficiency.
The Digital Services Act is carefully reviewed, and processes are updated for social functionality and customer reviews.
Continuous reviews address online safety, media regulations, and evolving data protection legislation in the wider legal framework. | Steady arrow |
13 | 비즈니스 연속성 | IT system failures, including third-party services, could disrupt bookings, payments, and administrative services.
Weakness in business continuity planning ("BCP") may lead to major service disruption. Aging technology poses reliability, security, and feature delivery challenges.
Sole reliance on one cloud provider region risks business impact from data centre outages. | The Group's BCP prioritises e-commerce operations, backed by external advisors' disaster recovery plans.
Modernisation and cloud transition enhance resilience.
Robust supplier terms cover force majeure and BCP. Successful COVID-19 response validates BCP and backup systems, which are reviewed periodically for relevance and effectiveness. | Steady arrow |
14 | 브랜드 및 평판 | Reduced brand marketing spending is likely to have impacted brand recognition and trust.
Cyberattacks and poor customer experiences (with our hostel partners and our services) pose reputational risks.
False claims about diversity, equity and inclusion or sustainability could damage reputation.
Response to geopolitical developments and improper user actions could also affect brand integrity and the business. | The paid marketing teams focus on promoting the app and emphasising new social features. Brand marketing sustains active owned channels, with added investment in social media content creators, yielding increased engagement on TikTok and Instagram.
An ongoing CRM strategy integrates social features into the customer journey, while proactive communication addresses emotive issues like the Ukraine war.
External PR advisors handle corporate incidents, and the crisis communications plan is updated with their involvement.
Cybersecurity measures are robust, with a crisis plan adjusted to address potential attacks.
An ESG Steerco oversees sustainability, mitigating risks through third parties.
Customer service ensures positive experiences, backed by a crisis management policy. In-app social features include terms, a code of conduct, and automated moderation for user-reported inappropriate behaviour. | Steady arrow |
15 | 과세 | Indirect taxes are a growing area of complexity with different regimes and rules in place in countries where the Group does business. Measures introduced include digital services taxes to address multinational businesses operating without a physical presence in Europe, and DAC 7 which requires digital platform operators to collect and report information on sellers, with penalties and potential lost revenue for non-compliance. There is a risk that the Group does not stay ahead of compliance in all jurisdictions in which it operates. In addition, changes in tax legislation such as the European Commission's proposals in relation to VAT in the Digital Age, interpretations, or OECD recommendations may expose the Group to additional tax liabilities.
Due to the increasing global workforce footprint of the Group, a tax authority may consider a permanent establishment to exist in a country by virtue of some activity being carried on there.
Key functions, assets or risks undertaken/managed outside of Ireland may cause tax leakage. If tax authorities take a different view than the Group as to the basis on which the Group is subject to tax, it could result in the Group having to account for tax that it currently does not pay. This may increase the Group's effective tax rate, increase tax cash outflows, and increase the costs associated with tax compliance. | Tax risk management involves qualified personnel and collaboration with big four tax advisors. Regular assessments, briefings to the Board, and biannual reviews with advisors, address tax impacts and legislative changes.
Monitoring the global footprint includes implementing the relevant tax structures and enforcing a strict work-from-abroad policy.
Key function locations are approved, and transfer pricing policies align accordingly, demonstrating proactive tax risk mitigation strategies. | Steady arrow |
RNS는 귀하의 IP 주소를 사용하여 약관 준수 여부를 확인하고, 귀하가 이 커뮤니케이션에 포함된 정보를 사용하는 방식을 분석하고, 그러한 분석을 익명으로 다른 사람과 상용 서비스의 일부로 공유할 수 있습니다. RNS와 런던 증권 거래소가 귀하가 제공한 개인 데이터를 사용하는 방법에 대한 자세한 내용은 개인 정보 보호 정책을 참조하십시오.