Alloggio full year results: Will Creedon credits team as accommodation provider notches 'very solid gains'

Reporting Alloggio's maiden full year results as a listed company on Wednesday, founder and CEO Will Creedon said the company had achieved record performances in key areas of the business - a "testament to a strong cash position, well executed acquisitions in an improving market and an experienced management team".

"We are pleased to report very solid gains in our first year as a listed company as we continued to grow our overall revenue," the Hunter businessman said.

"Alloggio [has been] very active in pursuing its planned acquisitions-led growth strategy, utilising our strong cash position following the November 2021 IPO [Initial Public Offering] and the positive rebound in domestic travel."

Alloggio's results included increasing its gross revenue by 146% to $27.9m; increasing its gross bookings value by 150% to $61.9m; growing the number of properties on its books by 154% to stand at 1883; and increasing the number of its hotel rooms by almost a third to 428.

Strong organic growth combined with benefits from previous acquisitions, plus a "rigorous cost management focus" during lockdowns, had resulted in an operating EBITDA increase 113% to $11.2m, ahead of Alloggio's June upgraded guidance range of $10.5m to $11m.

"Gross revenue also exceeded our upgraded guidance figure of $26m, increasing 146% to $27.9m," Mr Creedon said.

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