"Added Value or Added Headache?" - Hostels with Bars & Restaurants, Panel Discussion

Learn more about the challenges and rewards of adding a bar/restaurant/cafe to your hostel.
This Panel Discussion was streamed live April 29th.

We once again present a diverse panel of great hostel managers and owners.
This time we also have the creators of a new payment app "Tab." join the discussion for a talk about useful alternative payment forms relevant to hostels and the tech-savvy, smart-phone carrying guests.

Panelists:
- Susan Shonk, Owner of Room2Board Hostel & Surf School, Jaco, Costa Rica
- Jamily Bassila Frost & Alex Frost, Founders and Owners of Full Sail Hostel, Fortaleza, Brazil
- Bebeto Azevedo, Owner of LimeTime Hostels, Rio & Sao Paulo, Brazil
- Chris Horden, Owner of The Pack & Carriage, London, UK
- Mark Datta & Chris Wood, Travelers & Founders of Tab. (www.tabmoney.com)
Moderator of the panel discussion is Courtney Loechl, Hostel Management Blogger & Manager of Pacific Tradewinds Hostel, San Francisco, USA

Here are the main topics discussed:

Part 1

The panelists take on why they have chosen to add a bar/restaurant to their hostel

Experiences with a bar open/not open to the public

A lot of hostels don't allow locals to stay, so what are the experiences with local bar guests, who wants to stay the night after a good time in the hostel bar - do you allow it ?

What were some main reservations or hesitation when it came to opening a bar/restaurant together with your hostel? How did you get around it and what have been the biggest challenges in the process of adding a bar/restaurant ?

Do you find the bar/restaurant is profitable directly in itself or is it adding more value indirectly by contributing to the hostel atmosphere?

How will a hostel bar located in a big city be different from a small town or a off-the-beaten-path location?

Is having a bar/restaurant/cafe like running an entire second business or is it easily running as a side business to the hostel?

What are your experiences using different payment forms eg. cash, payment apps, paypal etc. and how do you keep track of incoming money when you are running a tab?

Part 2

Introducing "Tab" and how it can work as a payment form at hostels and be a payment solution in the bar

How comfortable are travelers with sharing credit card information when signing up and using a payment app?

How can "Tab" help with foreign exchange rates, when paying with the app ?

The panelists experiences with using cash, apps or alternative payment forms in the hostels