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Back "Hostelworld - The Industry Standard, Worldwide". By Ray Nolan, Founder, WRI and Hostelworld.com 

May 16, 08
By Fionuala Pender
 (Total Ratings: 0)

 

 

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On 8th May, over 120 IIBN members gathered to hear the unique story of Hostelworld.com by its highly successful founder, Ray Nolan. The event took place in the opulent surroundings of the Royal College of Physicians, Regents Park, Central London.

Ray founded WRI in 1999 when he identified an opportunity to introduce online bookings to the hostel industry, a sector which had previously been ignored by mainstream online travel companies. As CEO, Ray grew Hostelworld.com to become a leading brand in the online travel space.

Having opted not to attend university, Ray focused his technological talents and ?know-how? and soon became a serial I.T. entrepreneur. Ray also spoke about his involvement in a number of companies in the Irish technology sector. He founded Raven Computing (later Coretime Ltd) in 1989 to develop bespoke software solutions for the legal, and hospitality sectors, before subsequently developing a leading time and billing management system. He sold Coretime Ltd, to Sage in 2004.

Apart from delivering huge organic growth, WRI made a number of strategic acquisitions under Ray?s leadership. In 2005 the company purchased WorldRes and introduced its low cost distribution to mainstream travel. In doing so, WRI broadened its product range to include 60,000 ?own-contract? properties from hostels through to five star hotels in 165 countries.

Hostelworld.com is now available in 22 languages, features more than 1 million customer reviews and offers budget travellers free podcasts, downloadable city guides, a travel social network and more. In November 2007, a new look website was unveiled. The rebranded site has been updated with new imagery, and the new logo has been reinforced with the tagline "Sleep Easy", a straightforward value proposition that comes from the reassurance you get from dealing with the number 1 hostel website.

The event was closed by Conor Foley, Chairman, IIBN who highlighted the extent of Ray?s remarkable success which includes Ernst and Young Emerging Entrepreneur of the year 2003 award, and IIA Net Visionary award in 2006.

The evening concluded with drinks at the Royal College of Physicians.

Photos courtesy of Louise Jefferson