YellowSquare announces 2023 fiscal year financial results up 37% on 2022
Milan, 9 February 2024
YellowSquare, the hospitality firm renowned for its lively hybrid hotels in Rome, Milan and Florence, has revealed its 2023 fiscal year financial outcomes. With revenues exceeding EUR 14 million, reflecting a significant 37% surge from 2022, and hosting over 100 thousand guests, YellowSquare shows robust expansion amidst adversities.
In a year marked by resilience and ingenuity, YellowSquare continues to captivate a youthful, global community seeking distinctive and sociable travel experiences. The company’s dedication to delivering outstanding accommodations and services has yielded substantial financial achievements, with direct website bookings constituting 42% of total bookings, surpassing industry norms.
YellowSquare’s varied revenue streams, encompassing accommodation services, food and beverage offerings, and ancillary services such as coworking and event space rentals, have contributed to its resilient financial performance. With an EBITDAR of approximately 6 million euros and TRevPAB (Total Revenue per Available Bed) surpassing industry benchmarks, YellowSquare remains at the forefront of the hospitality sector.
In 2023, YellowSquare welcomed guests from diverse corners of the world, nurturing a dynamic community ambiance within its establishments. The company’s forthcoming expansion into Pisa in 2025 reaffirms its commitment to providing exceptional experiences for young travelers seeking more than just budget-friendly lodgings.
Established in 1999 by Fabio and Marco Coppola, YellowSquare continues to lead Italian youth hospitality with a dedicated team committed to innovation and excellence.
We are die-hard travelers who have loved hostels ever since we can remember, full of stories and people from all over the world. In ‘99 we decided to take a small apartment and rent out a few beds. This was the genesis of the Yellow, and from this moment on, we have never stopped growing and learning.