After nearly 100 years of providing “simple accommodation for all,” the Youth Hostel Association (YHA) is selling 20 of its 150 hostels in England and Wales. In a statement, the YHA said the decision had been made due to a challenging few years for the charity, including pandemic shutdowns, the cost of living crisis, and steep inflation. The sell-off is part of a three-year business plan aimed at securing the YHA’s long-term prosperity. The pandemic had a significant impact on the charity, causing it to lose over 80% of its income in 2020/21. The restructure will focus on increasing occupancy at the more popular properties while reducing staff. The YHA is seeking buyers who will continue operating the properties as hostels, but some may be sold to private individuals with the proceeds invested in the remaining hostels. According to Sam Dalley, the managing director of the Independent Hostels network, hostels play a vital role in the outdoor industry, offering flexible, self-catering accommodation. Dalley encourages prospective buyers to consider taking on the hostels as going concerns. The YHA also runs a franchise scheme for its former hostels, allowing buyers to keep the branding and remain on the online booking system. With a relatively low starting price of £250,000 for a former school in North Yorkshire, there are concerns that buyers may convert the hostels into private residences. However, the YHA wants to maintain the properties as hostels wherever possible. The YHA was established in 1930 and aimed to provide affordable accommodation to young people with limited means and promote a greater appreciation of the countryside. Throughout its history, the YHA has sold off and acquired hostels, with the recent focus being on urban properties. Many former YHA hostels have been successfully refurbished and reopened by individuals or community groups. The Independent Hostels network currently includes more than 50 reopened hostels. Despite the challenges faced by the YHA and the potential risks to the 20 hostels being sold, there is hope that new owners will continue their operation as hostels, ensuring their preservation for future generations.
YHA’s Decision to Sell 20 Hostels Out of 150 Due to Cost of Living Crisis
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