Announcing results for the year ending September 30, the company reported EBITDA of €233.5 million (compared to €207.9 million year-over-year) and a cash position of €498 million.

HotelBeds also launched a strategy to reduce "cost-per-room-night" from €6.30 currently to €4.90 in the next two years.

In a statement announcing the results and job cuts, the company says it plans to "invest in automation and cutting-edge technology" to improve the customer experience and make better use of the unified business.