13 years
Hi Dabo
Congratulations on taking the first steps in establishing your Hostel.
I came across the same issues when I was developing my business plan
A lot of the costs you have identified really vary in the locality you are operating. Different regions and countries have different costs which will affect your financial modelling. For instance, rates of pay in Norway would most likely be much higher than say in Greece. Also remember to include taxes and tariffs, as different places may charge different rates of sales taxes on accommodation.
There are only a few items there that won't vary with locality such as booking sites and online marketing and advertising costs.
My suggestion is to identify the main countries/localities you are looking at and then assess their various costs. Do back of the envelope calculations initally instead of in-depth analysis. If like in Australia, labour accounts for a high proportion of costs then focus on that first and the other top costs.
On your second question, different countries have different regulations on what is an acceptable occupant/space ratio. Make sure you don't run foul with legal requirements. The same also goes with the number of occupants to bathroom/toilet ratio. Also some rating agencies may have their own benchmarks, which means if you want to be listed/rated by them you must meet their requirements, which may be quite a bit above the legal requirement.
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