Biggest Mistakes?
Start a Hostel
Hi guys! I'm in the process of opening a new hostel in Queretaro, Mexico, with previous experience in hotel and travel industry but none in hostels. I have to say that I've learned a lot in this website from you people, so I feel very confident on knowing more than the basic stuff thanks to you.
As a newcomer in the industry I was wondering if you, with your hostel wisdom, can tell me which are, in your experience, the biggest mistakes that someone can make when opening a new hostel. I think this discussion could be of great help for me and other new managers, and could even be added at the Hostel Wiki section as a what-not-to-do list.
I look forward on reading your posts, and don't forget to let me know if you will be visiting Mexico soon!!
- Comments
15 years
Second biggest mistake: rent something, just because you don´t find your ideal property immediately.
When you look for a house, you usually want three things:
1. Ideal property in ideal location.
2. Inexpensive.
3. Now.
You can easily have any two of the three things, but not all of them.
15 years
Second biggest mistake: rent something, just because you don´t find your ideal property immediately.
When you look for a house, you usually want three things:
1. Ideal property in ideal location.
2. Inexpensive.
3. Now.You can easily have any two of the three things, but not all of them.
Well, I've already found what I think is the perfect house after looking for a while. Reasonable rent, fab location and perfect spaces... as long as I get my first government permit I'm starting the adapting process, hopefuly I'll be able to open for December's high season. What other terrible mistakes do you think one can make during this exciting process??
15 years
Forget the bedbug spray before you open. Four weeks later they´re all over the place.
15 years
Second biggest mistake: rent something, just because you don´t find your ideal property immediately.
This I agree with 100%. We have been looking for a place for the past couple of months. Still not have found what we wanted so our plans get pushed back as I would rather have a place I'm happy with for the next 10 years.
15 years
The biggest mistake would be not having a clear business plan of what you want to be and where you want to be. This goes pretty much for any business and is probably a golden rule.
15 years
The biggest mistake would be not having a clear business plan of what you want to be and where you want to be. This goes pretty much for any business and is probably a golden rule.
Agree with this totally - and the biggest mistake can be to include overly optimistic occupancy rates in the plan. If you plan assumes say a 80% occupancy rate to break even then you have to be sure that this is achievable. To my mind it's best to be conservative and make sure that you'll be able to make money at say average 60%, especially in the first few years whilst the business builds it's name and reputation.
15 years
Agree with this totally - and the biggest mistake can be to include overly optimistic occupancy rates in the plan. If you plan assumes say a 80% occupancy rate to break even then you have to be sure that this is achievable. To my mind it's best to be conservative and make sure that you'll be able to make money at say average 60%, especially in the first few years whilst the business builds it's name and reputation.
As Queretaro is mostly a weekend break city, I'm considering how much money I colud make if there were guests only at weekends (which I'm hoping would not be the case). How thin is the line between enthusiasm, optimism and realism??
15 years
Forget the bedbug spray before you open. Four weeks later they´re all over the place.
So, you are saying that I have to wait 4 weeks for bugspray?? Is there a way to prevent rather to extermine??
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