Newbie-considering taking over excisting Hostel

Hi all- came across this site and will be checking all the info available.
I am in a position to purchase the rights of an excisting hostel-recent feedback on Hostel sites is a bit negative, due to being crowded and non too clean. So need to see if reducing the number of beds would turn it around or cause a slow death.
I am also looking for a partner or two-the cost is low-but the building is rented for the next few years, so not a permanent situation.