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Hostel scene in Budapest

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Faisal Kazi started this discussion 6 years 2 months ago

Hello everyone,

Can anyone tell me what's the hostel scene like in Budapest?

I heard many had been closing down over the last few years, whereas previously there were many. Is this true and why do you think this has been happening?

Does it make sense to open a 40 bed hostel in a busy district in Budapest?

Pls advise/ Any Budapest hostelliers here?

Thanks & Regards

Fais

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amazinghostel

6 years

Hi!

Many hostel closed in the last 2 years. There was a boom on the property prices, while the bed prices are still very low ( starting from 6 euro) . I rented a building but the owner sold the property, and this happened with many others. Renting price are getting higher and it is more profitable to rent out then dealing with hostelling. Airbnb is very big and real threat on the market.

If you are intrested I am ready to help you. Now I have fast food business but I still have an eye on the hostel scene, I would be happy to start a new project.

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MaxPecs

5 years

Let me revive the topic a bit: there are hostels for sale, but as I see, they are absolutely out of budget. Some 10-15 beds that will never make ends meet. The rest, as I see, are surviving. Good to perfect central locations, 8-12 USD per night, if starting now, with peaking real estate prices, some 10-11 years long long road to breakeven. No deal.

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