Vacation rental marketplace HomeToGo reported booking revenues of €83 million for the first quarter of 2024, up 28% year over year.
The revenue growth, a quarterly record, was attributed to a 39% increase in onsite bookings and a 53% increase in the volume of bookings year over year.
Revenue for the quarter was up 66% to €36 million, attributed to growth in HomeToGo’s B2C marketplace as well as its PRO B2B business.
The company said the growth in Q1 is also related to the consolidation of HomeToGo’s recent acquisitions. HomeToGo paid €31 million for 51% of short-break specialists KMW Reisen and Super Urlaub.
Subscribe to our newsletter below
Patrick Andrae, co-founder and CEO of HomeToGo, said, “At the end of the first quarter, we are fully on track with our ambitious growth journey through the robust growth achieved both by our B2C Marketplace and HomeToGo PRO at the beginning of the year. We are well positioned to achieve our 2024 financial targets and remain focused on accelerating our growth at improved profitability.”
Breaking out results for its two divisions for the first time, Andrae said the aim was to provide more transparency on its segments. The company said the B2C platform saw revenue increase 84% to €26 million.
Revenue for the B2B PRO business hit almost €12 million, up 35% year over year, and now accounts for 32% of group revenue.
Adjusted EBITDA was a loss of €21 million for the quarter, representing an almost €4 million improvement year over year.
The company said its full-year 2024 guidance is on track to hit booking revenue of €250 million, a 30% increase on 2023, and revenue of more than €220 million, up 35% year over year.