A US investor who has built up an almost 13 per cent stake in Hostelworld has said that he is not planning to bid for the online hostel booking company, which saw revenues and earnings slump last year amid international Covid-19 travel restrictions.
Charles Jobson, co-founder of Boston-based hedge fund Delta Partners LLC, first disclosed a 4.5 per cent personal stake in Hostelworld last July and ended 2020 with a holding of in excess of 10 per cent. Hostelworld released a filing from Mr Jobson earlier this week revealing that he had crossed the 11 per cent and 12 per cent notifiable thresholds in January and March, unknown to the Irish market at the time.