Hi,
I am hoping to open a hostel in Eastern Europe next year.
What percentage would you say is average/ above average in Eastern Europe or the Baltics.
I have no idea what to expect so any real life experiences will give me a feel.
Thanks
13 years
Many Eastern European cities are very competitive. If people think that you might be opening in their city, they might not give you the data. If you say which country you're opening the hostel in, then maybe you could get an answer from a hostel in a nearby country. People might feel safer about answering the question. :)
(Though I could be wrong -- Someone might post an answer either way. :))
13 years
it is true they can be very competative - this area is an emerging market and demand/bkgs for accom/tours takes big steps forward each year..
but, it is still young, and at present, much of the focus is on seasonality. summer = $$$, winter = zzz.
given, the size and proximity of a lot of eastern european countries, most visitors, will tend to visit multiple destination, so neighbouring countries occupancy is a probably as accurate a rule of thumb as your going to get (full credit to josh on that one).
enquiries on accom/tour bkgs sites couldnt hurt to help indicate trends... perhaps..
however, focus first on you, you property - do the math, see what occupancy you need for profitability - then assess whether that is achievable.
good luck - i wish you every success :)
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