14 years
This is based on the same information that I referred to in another thread.
Exeter: There is evidently a market for 10,000 bednights per year. To do this would involve spending £500,000. What would you do if you owned the hostel?
Probably sell it (it is several km outside the city centre) and buy another property that does not need much initial expense.
What does the YHA do? It sells the property and does not consider buying another to cater for the expected 10,000 bednights.
But as the YHA expressed in their other article: "we have relied on the sale of hostels to generate cash and to meet our obligations to the banks for our existing borrowing". Even then, they accept that they are "not spending sufficient money on the day to day maintenance of hostels". They accept that: "No business can continue to run in this way".
Their solution includes moving out of a major English city. And another 30 or so locations over the next few years, they say.
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