The COVID-19 pandemic closed borders and motivated many owners and operators of youth hostels, student accommodation and co-living properties to look at innovative solutions to ensure their properties remained economically viable.
Hostel sector set to grow across Europe as sharing economy takes hold
According to a new report on the limited service and hybrid hotel sector by HVS, this sector is starting to shape part of a ‘sharing economy’ whereby consumers value ‘access to’ rather than ‘ownership of’ goods and services.
Hostel industry generating an average of €200 per bed per year in ancillary revenue
New report examines the results of a survey of youth travel accommodation (YTA) providers about their ancillary revenue sources.