New Hostel in Hong Kong

Room in hostel to cost HK$500 a night
http://www.rthk.org.hk/rthk/news/englishnews/20100420/news_20100420_56_662241.htm

(Click audio link for the story)

The government has given details of its plan to turn a historic public housing block in Shamshuipo into a youth hostel. The 129-room facility will be run by the Youth Hostels Association, which is expected to charge about HK$500 dollars for a twin room [USD $64.40]. The government will bear the renovation cost of just over HK$200 million.

From the audio:
"It is expected to break even in 2 years."