Hi everyone i am wondering if any of you can help me, i am a 4th year college student studying hospitality management and i am doing a thesis on the effects of the recession on the hostel industry and i was wondering if anyone would have any information on this topic or know any were that i could find this information. All information provided will be very much appreciated and of course referenced under your name.
Thanks in advance
David
14 years
I doubt there is any such information out there. Hostels weren´t effected much. We had a few bad months in early 2009 but everything seems to be back to normal since then. I guess hostels in Ireland suffer(ed) from the bad EUR-GBP exchange rate.
Another effect could be that banks don´t throw money at every stupid business plan any more, but they never took hostels seriously anyway...
14 years
I can only say that last year I have noticed many people from USA who lost their jobs taking advantage of having free time and deciding to go traveling.
The hostel where I worked was not affected by recession but that depends I believe also on destination and location of hostel. This hostel was the only proper hostel in a very popular destination so it was not a problem to get it full. This year another opened :).
This is just a guess, but for an example, I think hostels in Greece might have been more hit by the recession because all the upheaval happening there, airplanes and other means of transportation not working properly, all the riots and everything..
I mean, in recession people might travel less, spend less, but it seems logical, that if people are traveling while there is recession, they will choose budget accommodation over the expensive one.
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