Hi Guys,
What do you think of the following markets to start a hostel:
Colombia: Medellin or Santa Marta
Brazil: Rio De Janeiro
Panama: Panama City
Considering it'll would be a foreigner to try to open the hostel.I don't know what's needed in order to lease a place in these cities as a foreigner and what documents are required either so that could complicate things in these countries.
What's your opinions on these cities and markets? Does anyone know the steps to take in each city and what is needed in terms of documents and permits?
Thanks
13 years
Panama City could be a good location, but there is a lot of competition, I own and operate www.bambuhostel.com in david panama, the learning curve has been tough and operating in a secondary market can be tough. There is some red tape and taxes that can be daunting, you need a reliable lawyer and accountant to negotiate it. Also the location in Panama City is the most important thing..
13 years
Luna's Castle and Mamallena seem to just crush Panama City these days. But it seems like there might be room for another hostel. A lot of the smaller hostels in PTY are not so great.
Colombia is an emerging market, but I think someone would find more success outside of the major cities, as they have already been overrun by Aussies, Kiwis and gringos opening up hostels. And some cities like Cartagena are surprisingly pricey.
Brazil is a great market as well. I would bet that the red-tape in Brazil would surpass that of Colombia or Panama. However from my experience in Latin America most of the "work" is just waiting, and having a good attorney. Maybe Florianopolis would be a good spot for a nice hostel.
13 years
Don't you think Florianopolis is very seasonal? and it'll be busy only 3 months a year tops.....a bit like Punta del este in Uruguay.
Rio de Janeiro might have rooms for another hostel in a good location copacabana/ipanema but then again how easy it is for a foreigner to get a lease and so forth?
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