ASMALLWORLD AG (SWX:ASWN) expects growth and positive EBITDA for first half of 2020
Zurich, 07.07.2020 - ASMALLWORLD AG grew its revenues during H1 2020 and expects a positive EBITDA for the first six months of 2020, despite a difficult market environment due to the global COVID-19 health crisis.
ASMALLWORLD AG continues to grow profitably, despite a difficult market environment due to the global COVID-19 health crisis.
Based on preliminary figures, ASMALLWORLD AG expects an increase in revenues for the first half of 2020, compared to the same period last year. H1 revenue is expected to come in above CHF 5.7M. The company also expects that the first six months of 2020 will result in a positive EBITDA.
Compared to June 2019, the company grew its member base from 54'831 to 60'821, which represents an 11% increase.
The company was negatively impacted by COVID-19 limiting the activity and revenue potential for its event business and its social network. As a result, ASMALLWORLD pivoted from in-person events to new online event formats, which have proven popular with members and which will become part of the regular service offering going forward.
Despite a difficult market environment, the ASMALLWORLD Prestige Membership, the company's higher priced membership, offered in partnership with Miles & More, the loyalty subsidiary of the Lufthansa group, experienced strong revenue growth in Q2. The reason is increasing interest in Business and First-Class flights and the ability to purchase such flights with award miles.
First Class & More, the company's smart luxury travel business, also delivered strong membership sales and service growth, confirming the positive effect of the 2018 acquisition and the diversification of ASMALLWORLD's revenue streams.
Full financial results for the first half of the year will be published on 27th August 2020.
ASMALLWORLD Collection set to launch in July
The company continued to develop its forthcoming in-house, online hotel booking engine, named ASMALLWORLD Collection. After a year in development, the service is due to launch in July and will offer members and non-members the ability to book the world's most admired hotels via the ASMALLWORLD website and app. With this step, the company continues to expand its revenue streams from its travel operations.
The ASMALLWORLD Collection will offer its customers of a curated selection of high-end hotels, chosen for their exceptional guest experience. In addition to a hand-picked selection of hotels, the service will offer customers a choice of two rates, the 'Lowest Rate' and the exclusive 'ASMALLWORLD Preferred Rate,' a unique online rate, offering customers extraordinary benefits such as room upgrades, $100 food & beverage credit, or late check-outs.
At launch, the ASMALLWORLD Collection will offer about 600 hotels, with the goal to grow the number of hotels to over 1'000 in the near future.
This press release and further information can be found at www.asmallworldag.com.
The ASMALLWORLD Group
ASMALLWORLD is the world's leading travel & lifestyle community, focusing on experiences: the modern-day definition of luxury.
Centred around the ASMALLWORLD social network, the company operates a digital travel & lifestyle ecosystem which inspires members to travel better, experience more and make new connections.
Members of the ASMALLWORLD social network connect through its app and website, where they can meet other members, book hotels, receive travel and lifestyle inspiration, and enjoy a wealth of travel privileges.
Members also meet in person at over 1'000 global ASMALLWORLD events every year, ranging from casual get-togethers in major cities around the world to flagship weekend experiences hosted in iconic destinations such as Saint-Tropez and Gstaad.
Other businesses of the ASMALLWORLD travel & lifestyle ecosystem include:
ASMALLWORLD Collection, an online hotel booking engine focused on the world's most admired hotels, offering the unique "ASMALLWORLD Preferred Rate" (expected to go live in July 2020)
ASMALLWORLD Private, a high-end travel agency offering personalised travel curation service
ASW Hospitality, a hotel management company that operates and manages the iconic North Is-land resort in the Seychelles
First Class & More, a subscription-based smart luxury travel service that allows members to enjoy luxury travel at insider prices
The World's Finest Clubs, the world's leading nightlife concierge offers its members VIP access to the most exclusive nightlife venues around the world
For more information, please visit:
Issuer: ASMALLWORLD AG
Key word(s): Entertainment
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