16 years
Is that a picture of the hostel on the webpage?
25 million euro? I wonder how long it will take to make a profit...
Another "Flagship"
Hostel Trends and News
Meininger Hostel / Berlin Hauptbahnhof
This site is not yet available in English.
Quick translation:
- opening: November 2009
- 8 stories, 3-star hotel standard
- 176 double/single rooms (ensuite)
- 120 four- and six-bed rooms (shared facilities)
- rooftop terrace with hostel bar (hey, that was our idea! :) )
- cost of the beast: € 25 million - :eek:
- Comments
16 years
Yes, apparently it´s the cube in the middle of the picture.
Profit? I´ll put these figures into my spreadsheets tomorrow. The price tag is staggering. Of course they don´t pay that amount from their own bank account (I doubt they have more than a fraction of that available) - somebody else builds it and rents it to them. The rent should be around € 150000 per month, which is also staggering - but then there will be almost 1000 beds in it!
16 years
I want to stop by some of those 800 to 1000 bed hostels on my next trip to Europe. Hard to imagine...
16 years
€25 million!?!?!? holy crap.
hell, all i need is a paltry 1/25th of that and ill have a rockin little place! i wonder who's ponying up the dough for that behemoth.
and im still wondering how many beds berlin can handle - i mentioned this to klaus a while back - but there got to be a limit. 1000 new beds?!
16 years
- 8 stories, 3-star hotel standard
- 176 double/single rooms (ensuite)
- 120 four- and six-bed rooms (shared facilities)
- rooftop terrace with hostel bar (hey, that was our idea! :) )
- cost of the beast: € 25 million - :eek:
Wow, with a guest kitchen, too!
16 years
Wow, with a guest kitchen, too!
:D
For 25 million, you´d expect a guest kitchen!
16 years
i wonder who's ponying up the dough for that behemoth.
A well-known local investor, Harald Huth. He owns a couple of shopping malls in Berlin, among them the biggest in town.
There is way too much office space in Berlin already. Much of it empty. So - if you have the necessary cash and want to invest in real estate, build malls and hotels. If you read the business sections of German newspapers, you´ll find out pretty soon that they praise budget hotels as the new "mega-trend". Fancy hotels are still being built, especially in Berlin, but that market is said to be pretty saturated. So - a lot of money flows into budget hotels. It is actually not very hard to find someone in Berlin willing to throw a few millions at you, if you are not completely new in the market. Meininger isn´t - they have four hostels in Berlin already.
and im still wondering how many beds berlin can handle - i mentioned this to klaus a while back - but there got to be a limit. 1000 new beds?!
Of course, what I just described are all the necessary ingredients for another bubble. I don´t know if Berlin can do with another 1000 beds, but I dare to predict this particular hostel will make money (I just did the math), it´s the sheer size which will make it profitable, even with an occupancy rate between 50% and 60%. It has a good location, good standard and Meininger knows very well how to sell beds. If it runs well, it will make shitloads.
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