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Newcastle Herald
Newcastle Herald
Business
Penelope Green

Alloggio upgrades revenue forecast after "positive" travel momentum

Australian Stock Exchange Will Creedon Australia
Uptick: Will Creedon

HUNTER-driven short-term accommodation group Alloggio has upgraded its revenue guidance for the 2022 financial year from $21.5 million to $26 million.

The upward revision to the Australian Stock Exchange was announced on Monday.

Hunter businessman and Alloggio founder-CEO Will Creedon said that the improved outlook "reflects the strong demand for travel" since restrictions were lifted in the latter half of 2021.

"Our properties are located in popular tourism destinations on the east coast of Australia and with ongoing strong demand for travel, we continue to see positive momentum," he said.

Alloggio's revision included its EBITDA (earnings before interest, taxes, depreciation and amortisation), rising from $8.6m to between $10.5m and $11m.

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