12 years
From my previous experience running hostels. Hostel occupancy rates can be 20% lower than a hotel to make the same percentage of income to cover overheads.
Hostel Occupancy Rates vs. Hotel Occupancy Rates?
Start a Hostel
Greetings. I am refining my business plan to open a hostel in Minneapolis and a potential developer asked me what the hostel occupancy rate is compared to hotel occupancy rates for locations in the USA. If you have already researched this for your market, can you please share this information with me?
Thanks!
Bethany
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12 years
Hi Bethany,
I had similar doubts. I also am checking the viability of opening a hostel in a city that is not a main touristic spot, but has lots of industries and universities with lots of touristic attractions within a 100-150 km radius. I dont know Minneapolis, but by what i read about it seems similar to my city. I am still not convinced if cities like ours is a new market for hostels or if it just does not work without vacation tourists. Perhaps we could exchange some info/ideas? I'm from Brazil by the way.
11 years
I'm actually trying to get an idea of hostel occupancy rates by taking a survey but haven't had too much luck. If you'd like to help me spread the word about this survey to medium sized hostels to see if we can collect some data on hostel occupancy rates (a thing difficult to put your finger on) I'll certainly share the outcome! http://www.surveymonkey.com/home/
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