Alloggio (ASX:ALO) upgrades FY22 guidance

Alloggio (ASX:ALO) has upgraded its FY22 guidance in both revenue and earnings before interest, taxes, depreciation and amortisation (EBITDA).

The accommodation provider expects revenue of $26 million, compared to the previous guidance of $21.5 million. It also expects EBITDA of between $10.5 and $11 million, compared to the previous guidance of $8.6 million.

”The improved outlook reflects the strong demand for travel since travel restrictions were lifted in the latter half of CY21,” said chief executive officer Will Creedon.

“Allloggio’s 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 in the business for ongoing growth.”

Shares last traded at 12 cents.