Most hospitality groups are shedding real estate. a&o is picking it up at distressed prices — a contrarian move that works up until the deals, or the lenders, run dry.
It's a hostel takeover. Several leading institutional names have invested in European hostel brands in the past 30 months, essentially underwriting the bunk bed.
Hostelworld CEO Gary Morrison is ringing in the evolution of the hostel dweller. More solo travelers look for friends with chat tools, and bunking up can bring carbon emissions down.
Selina grew up in a time when private market investors were willing to fund millions in early losses. Money papered over missteps. But managers now face an era that requires strict management discipline. Can it adapt?
So, it's not being marketed as a "hostel on steroids," as Hilton CEO Chris Nassetta once described it, but Motto by Hilton is more or less a lot of what we've seen before, albeit with a few twists.
Across the United States, hostel markets are growing. With new locations popping up in major cities like Miami and Chicago, it’s time to take a look at what’s holding New York City back.