Hostelworld Ditches 50 Cent and Mariah Carey in Bid for Growth
Photo Credit: One of Hostelworld's old celebrity ad campaigns. The company plans to become more focused on core customer acquisition. Hostelworld
Skift Take
Newish CEO Gary Morrison hasn’t minced words when it comes to what he sees as the company’s past failings.
What do 50 Cent, Charlie Sheen, and Mariah Carey all have in common? At one time or another, they’ve been featured in advertising for budget online travel agency Hostelworld.
But it seems newish CEO Gary Morrison isn’t a fan — at least in the promotional context. He’s decided to cut the use of high-profile celebrities as part of a wider refresh of the company.
Since taking over last June, Morrison has been trying to figure out how to make a small, niche brand succeed in an overall market dominated by a couple of big players.
While Hostelworld, which raised $201 million (€180 million) in its 2015 IPO, continues to generate plenty of cash — something the investment community loves — revenue and profit took a step back in 2018, and growth remains hard to come by.
2019 as Year of Investment
The ans
