Occupancy Rates & Demographics
We are trying to get our business plan squared away and as you all know, there isn't much info out there about the 'hostel industry' in the U.S. (if you have a good resource that I don't know about, I'm all ears!).
I'm wondering if any of you medium-sized (under 50-person) hostels in medium sized (under 2 million) cities in the U.S. would be willing to share some demographics with me. The main question I get is why a hostel and why not a hotel. Of course, I know the answer to that, but in our business plan we have to convince lenders why opening a hostel in our city is a good idea. I have an idea of what our target market for guests is but I have to get these numbers from somewhere a little more concrete.
To make it anonymous since I doubt everyone wants to share their occupancy rates on the forum, I made a survey. I hope many of you will take it so that I can post the results and hopefully help out other people trying to write a business plan! Thank you so much.
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