I have been travelling over 30 years, I have run hostels as many as 7 in one City at one point in my life. The biggest mistake you make is to try to do it better in a well established City or place.
If you are not first or second forget it just give me the Money as you are throwing it away, will fail in the first year. As marketing is not easy with all the big companies now wanting to earn money to pay their loans, these are not real hostels as we know them. Money machines a hostel is not a place to stay but away of life.
I have a building in a small white Village in Spain it needs only fitting out and it's up running, there are no hostels many great things to do here real Spain, but close to all tourist areas and beach.
For €10.000 your in business 14 dorm beds, 3 doubles 1 single with room to make other hostels in other white villages start a chain.
If you dream to own a 100 bed hostel to start in a major city dream on unless you have big money to start.
I am honest, get straight to the point, what i do not know about hostels and running them is not worth knowing. This small place and other income can bring in €4000 a month working on 50% full. That is enough money to obtain the loan on the building after one year trading and start more hostels in the area.
Please do not waste my time if you dream to own a hostel, or only see problems as everything is possible if only you can see it. If you want to start some where then here is your chance. In 1 month this place can be open you will have 70% of the business for €10.000 and access to my knowledge no amount of money can buy that. I retain only 30% as i am not into property ownership or making money, my life is simple.
Only serious people email me please [email protected] or Skype michael.jervis4