15 years
I can only see one way anyone could challenge them, that´s a meta-booking-system: a site which searches all hostel bookings sites (Hostelworld, Hostelbookers, Hostelsclub, ...) compares prices and then links you to the cheapest possible booking for any desired hostel.
A meta booking engine for hostels was just launched a few days ago. It will be interesting to see how it develops.
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