Potential Edinburgh Hostel

Hello all!

I'm looking to start a boutique (flashpacker) hostel in Edinburgh.
I have been looking for potential properties, and researching requirements etc. I'm having problems however, the city center rental market is very expensive when compared to the achievable price per bed per night and so it is proving very difficult to find a financially viable property especially when you have to consider the occupancy levels of a start-up hostel and planning / listed building regulations.

I am looking to establish a small but well serviced 30 bed hostel in the center... my question i guess, is what kind of occupancy can one expect for the first year? and what other revenue streams can you exploit? By my figures i need a very minimum of a 70% occupancy to break even, without ever recouping start up costs. Is this in any way realistic?

What ways can I save money and make income to make it worth investing in?

I look forward to all your comments and ideas!

Craig