Diversity, equity and inclusion (DEI) and sustainability are high on the agenda for Caroline Sherry when she’s not focused on other key aspects of her role as chief financial officer of global online hostel booking service Hostelworld.
“I’ve always been deeply passionate about diversity and inclusion,” she says. “As a female chief financial officer of a stock exchange-listed company, I am unfortunately in the minority. Advocating for EDI is a fundamental part of how I lead. It must go beyond policies – it has to be embedded in the organisation’s culture, lived and visible every day. The next generation of talent will demand that.”
Sustainability is another area of growing importance. “Without a doubt, it’s one of the biggest shifts in recent years,” she says. “We’ve seen a significant increase in reporting and governance. We’ve had the TCFD (taskforce on climate-related financial disclosures), and now we’re preparing for the Corporate Sustainability Reporting Directive (CSRD). Sustainability is especially critical in the travel sector – hostels already have among the lowest carbon footprints, with 80 per cent lower emissions than hotel rooms in the same area.”
The value of IoD membership
These regulatory changes were one of the many reasons she joined the Institute of Directors Ireland (IoD). “I became a member three years ago, and it has been an invaluable resource,” she says. “At this stage in my career, having an external network to discuss industry challenges is vital. The issues facing businesses are often similar, and IoD Ireland provides a fantastic gateway to the Irish business community, offering insightful reports, formal learning, webinars and in-person events.
“That’s what I truly value about my membership,” she continues. “I joined for the networking opportunities and the fresh external perspectives on challenges I was facing in my own role. When you’re deeply focused on your job, it’s invaluable to step back and gain insights from others. We can all learn from each other. Topics like the Task Force on Climate-related Financial Disclosures, the NIS2 cybersecurity directive and CSRD are actively discussed at IoD, making it an excellent resource.”
Her membership has also been instrumental in her role as an executive director at Hostelworld. “It has helped me stay ahead of the evolving regulatory landscape. Many of the topics we discuss at the board level are also being addressed by IoD Ireland, which ensures I’m always informed and prepared.”
An unconventional path to CFO
Sherry’s journey to becoming the chief financial officer of a publicly listed company was not a conventional one. “I came into finance through a non-traditional route,” she explains. “I initially studied science and aspired to work in the medical field, but my interest in how businesses operate eventually led me to accountancy.”
She started her finance career at PwC, gaining critical leadership and people management experience. “PwC was an excellent training ground, particularly for someone like me who didn’t follow the traditional B Comm (business and commerce degree) route,” she says. She later worked at Ulster Bank during the financial crisis, calling it a “huge learning curve”, before moving into the commercial sector with Glanbia Health and Nutrition. “I wanted to apply my financial expertise to help run and grow a business,” she says. “Glanbia was growing rapidly and gave me valuable experience working with functional leaders across the organisation.”
In 2019, she joined Hostelworld as group financial controller and was promoted to chief financial officer more than a year later. “Hostelworld is similar to Airbnb or Booking.com, but focused solely on hostels,” she explains. “It’s an online travel platform that connects hostel operators with travellers, covering 180 countries. Most of our customers come from Europe, with Asia as a strong second.”
Navigating the impact of the pandemic
Like many travel businesses, Hostelworld faced significant challenges during the Covid-19 pandemic. “The disruption was massive,” she recalls. “Coming out of it, we launched a new strategy in 2022 focused on social travel, which has been transformative. It has accelerated our growth by attracting more customers through our app, and we are increasingly pivoting to becoming a travel social media business.”
As chief financial officer, Sherry’s role extends well beyond finance. “Today, the role is much broader than just managing financials. I oversee finance, compliance and operations, but also play a strategic role in planning for growth, M&A and ensuring we deliver shareholder returns,” she says. Investor relations is another key responsibility. “I engage with the markets, meet investors, and tell the Hostelworld story. A chief financial officer has to be a storyteller - tr–nslating complex financial data into clear insights for both internal and external stakeholders.”
Returning to DEI, she highlights Hostelworld’s commitment as a member of the 30% Club and recipient of the Investors in Diversity Silver Award. “I am personally involved with the Balance for Better Business Review Group,” she says. “The Balance for Better Business Review Group is an important initiative in Ireland aimed at promoting gender balance at senior leadership and board levels in Irish businesses. Balance for Better Business (B4BB) works closely with government, industry leaders, and organisations like IoD Ireland to encourage businesses to embed diversity strategies into their governance frameworks. Building a truly diverse talent pool is key to driving change at leadership and board levels. Progress may be slow, but we are moving forward. Hybrid working has been one of the most significant shifts in the past century, and we must ensure we capitalise on that momentum.”
Sustainability remains central to her work, and she chairs Hostelworld’s ESG Steering Committee. “We recently launched the Staircase to Sustainability with the Global Sustainable Tourism Council – a framework helping hostels evaluate and communicate their sustainability efforts to customers and stakeholders. We want to make it easy for travellers to choose hostels that share their environmental values.”
Reflecting on her role as both chief financial officer and a board member, Sherry sees her key contribution as bridging financial and business strategy. “My job is to ensure we drive sustainable growth and create long-term value,” she says. “Beyond governance and financial reporting, I focus on resource allocation, risk management, and ROI. It’s about ensuring our financial and human resources are invested in the right places to fuel innovation and growth.”
Future focus
Looking ahead, Sherry remains focused on balancing financial performance with long-term sustainability and inclusivity. “The role of a chief financial officer has evolved significantly – it’s no longer just about the numbers,” she reflects. “It’s about shaping strategy and ensuring the business is resilient, responsible, and continuously innovating.”
With a passion for DEI, sustainability, and governance, she views her role as both a privilege and a responsibility. “At the end of the day, success isn’t just about financial performance. It’s about building a future-proof, inclusive and sustainable business – one that delivers value to our people, our shareholders and the wider industry.”
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