Shore Capital has reiterated its “buy” rating on Hostelworld Group, a global online hostel-booking platform, with a target price of 220p after the company’s half-year results surpassed expectations. Hostelworld’s revenue in the six months through June was €46.6m, up 12% on the prior year, with pre-tax profit rising 6% to €8m. The company has also unveiled a new strategy that focuses on developing a “community-driven platform”, including the introduction of a loyalty scheme for repeat bookings. Hostelworld’s share price has risen by more than a third since the release of its results.