HBX GROUP ANNOUNCES THIRD QUARTER 2026 TRADING UPDATE
HBX GROUP ANNOUNCES THIRD QUARTER 2026 TRADING UPDATE |
| [29-July-2026] |
LONDON, July 29, 2026 /PRNewswire/ -- HBX Group International plc (HBX Group, the Company, the Group, HBX.SM) today issues a Q3 trading update for the three months ended 30 June 2026.
Nicolas Huss, Chief Executive Officer, commented: "We continued to execute well during the third quarter, delivering resilient TTV growth in a challenging market environment. Growth reflected our clear strategy and focus on execution, supported by strategic partnerships, ecosystem expansion and the increasing deployment of AI across the organisation. Our maiden dividend, paid in June, and ongoing share buyback programme underscore our commitment to disciplined capital allocation. As expected, trading conditions during the quarter continued to be affected by the Middle East conflict. Encouragingly, leisure demand remained resilient, demand and booking trends improved as the quarter progressed and we saw early signs of recovery across several previously disrupted travel corridors. Our diversified footprint, strong partner relationships and agile commercial model enabled us to respond effectively, underpinning our confidence in delivering FY26 guidance. Leading HBX Group has been a great privilege and I am planning my retirement confident in our future success. We remain focused on execution, growing market share, expanding our ecosystem and embedding AI across the business to support sustainable long-term growth, profitability and cash generation." Third quarter and nine-month 2026 Financial Performance Summary
Group TTV increased to €2.4bn in the third quarter of the year, up +12% on the prior period at constant currency, reflecting strategic mix changes and targeted commercial actions to prioritise growth with increased exposure to the fastest-growing supply and distribution channels. Growth was supported by increased contribution from shorter lead-time bookings, Third Party Supply (TPS) and Online Travel Agents (OTAs). The Middle East disruption represented an estimated -4ppt headwind to Group TTV growth during the quarter. Excluding this impact, TTV growth would have been approximately +16% and revenue growth approximately +1% at constant currency. Revenue of €177m decreased -3% in constant currency. Take rate (revenue as a proportion of TTV) was 7.3%, 1.1ppt contraction year-on-year, reflecting deliberate mix changes to prioritise growth, commercial actions and strategic investments. The pace of year-on-year take rate decline improved compared with H1 and Q2, consistent with the Group's expectation that take rate changes would progressively moderate. Performance in the quarter was driven by continued TTV growth across most of the Group's largest source markets, including the US, the UK and China, helped by targeted commercial actions with key distribution partners.
The Group's agile operating model, global platform, and diversified demand base supported a resilient performance in MEAPAC and strong growth elsewhere. In response to the conflict in the Middle East, HBX Group rapidly redirected commercial focus and resources towards the higher growth segments and travel corridors. Targeted pricing, sales and commercial initiatives supported volumes and partner engagement, and captured emerging growth opportunities. In Europe, double-digit TTV growth was supported by resilient intra-regional and domestic travel demand. Southern Europe was a key driver of performance, with healthy demand from UK travellers to Mediterranean destinations. In the Americas, trading remained strong, supported by broad-based demand across North and Latin America. Growth benefited from strong growth in the US and Canada, helped by World Cup related travel and strong relationships with distribution partners across the region. In MEAPAC, trading was affected by the Middle East conflict. In Asia Pacific, travellers increasingly favoured intra-regional travel following disruption to certain long-haul routes earlier in the quarter, with booking trends improving as flight capacity recovered. In the Middle East, trading improved progressively during the quarter and signs of recovery emerged towards the end of the quarter during the ceasefire period. Across regions, the Group continued to leverage its scale, global sourcing network and commercial capabilities to respond quickly to changing market conditions, supporting trading performance and partner engagement during a period of continued volatility. Delivering commercial milestones in line with strategy Commercial progress continued during the third quarter, with further execution against the Group's strategic priorities across accommodation, ecosystem expansion and AI. These initiatives support long-term growth while enhancing commercial effectiveness, productivity and efficiency. Growth in accommodation was supported by:
Ecosystem expansion is being delivered by:
Accelerated use of Artificial Intelligence (AI) was supported by:
During the quarter, HBX Group continued to execute its capital allocation strategy, returning approximately €38 million to shareholders through its maiden interim dividend of €18 million and approximately €20 million of share repurchases under its €100 million buyback programme. Year-to-date, total shareholder returns amount to approximately €50 million. Leadership transition HBX Group has published a separate announcement today with the news that Nicolas Huss plans to retire as CEO and step down from the Board with effect from 30 September 2026. Nicolas will remain in post until then to support an orderly handover, and the Board has appointed Brendan Brennan, current CFO, as interim CEO from 1 October 2026. Brendan brings strategic leadership experience and has a deep knowledge of the business, ensuring continuity of leadership as the Company remains focused on executing its existing strategy. The Board has initiated a comprehensive search for a permanent successor, considering both internal and external candidates, and expects to announce an appointment by the Company's next Annual General Meeting in February 2027. Outlook The Group's performance in the third quarter was slightly better than the assumptions underpinning its previous outlook. With only two months remaining until year end, FY26 guidance has been narrowed around the midpoint. It reflects an estimated -3ppt full-year impact from the Middle East conflict, an improvement compared to the Group's previous estimate of -4ppt. Bookings momentum is encouraging and reinforces confidence in the outlook. The Group's medium-term expectations remain unchanged.
A webcast for the investment community will be held at 09:00 UK time in which we will deliver an overview of the Q3 2026 performance, followed by a Q&A session. To register for the webcast, please use the following link: HBX Group Q3 Trading Update. Contact details: About HBX Group HBX Group is a leading global B2B travel technology marketplace that owns and operates Hotelbeds, Bedsonline, The Luxurist, Roiback, Civitfun and PerfectStay. We offer a network of interconnected travel technology products and services to partners including online marketplaces, tour operators, travel advisors, airlines, loyalty programmes, destinations, and travel suppliers. Our vision is to simplify the complex and fragmented travel industry through a combination of cloud-based technology solutions, curated data, and a broad portfolio of products designed to maximise revenue. HBX Group is present in more than 170 countries and employs more than 3,500 people worldwide. We are committed to making travel a force for good, creating a positive social and environmental impact. HBX Group International PLC (HBX.SM) is listed on the Spanish Stock Exchange, (ISIN: GB00BNXJB679). [1] Constant currency changes exclude the impact of foreign exchange rate fluctuations by translating current year results at the exchange rates used in the prior year.
SOURCE HBX Group | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company Codes: Dusseldorf:Q1D.DU,Frankfurt:Q1D.F,ISIN:GB00BNXJB679,Munich:Q1D.MU,SPANISH STOCK EXCHANGE:HBX.SM |
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