The Youth Hostel Association (YHA) has made the decision to sell 20 of its 150 hostels in England and Wales as part of its three-year business plan to secure its long-term success. The charity has faced challenges in recent years, including the impact of the pandemic, rising costs of living, and inflation. These factors have affected the YHA, as they have other charities and hospitality providers.
The Covid pandemic hit the YHA hard, causing a loss of more than 80% of its income in 2020/21. Currently, 90% of its income comes from just 60% of its hostels. To address this, the YHA intends to improve occupancy rates at its more popular properties, aiming to increase customers by 30% while reducing staff by 20%.
The YHA is seeking buyers who will continue to operate the properties as hostels whenever possible. However, some properties will be sold to private buyers, with the proceeds being invested in the maintenance of the remaining hostels.
Sam Dalley, the managing director of the Independent Hostels network, encourages prospective buyers to consider running the hostels as ongoing businesses. Dalley highlights the importance of hostels in the outdoor industry, providing flexible and sustainable accommodation for people of all ages.
For those interested in running a hostel, the YHA offers a franchise scheme for its former hostels. This scheme allows new owners to retain the YHA branding and remain on the online booking system. One successful example is YHA Youlgreave in Derbyshire, where the new owner has added an artisan bakery and cafe.
The current market presents a unique opportunity for individuals seeking a lifestyle change. Alongside the 20 YHA properties, there are also 13 independent hostels available for purchase. Many of these hostels are located in picturesque areas such as the Peak District and the North York Moors.
However, there are concerns that buyers may purchase the hostels and convert them into private homes, given their desirability and relatively low prices. The YHA Boswinger in Cornwall, for example, is listed for £550,000, while YHA Wells-next-the-Sea in Norfolk has an asking price of £400,000. Other notable properties include a gothic mansion in West Yorkshire, a Victorian castle in Derbyshire, and a Scandi-style retreat in the Lake District. The total value of the properties for sale is £10.32m.
The YHA was founded in 1930, inspired by Germany’s youth hostelling movement. Its objective is to promote a greater knowledge, love, and care for the countryside and appreciation of the cultural values of towns and cities. The YHA initially opened 30 hostels by 1931, and despite challenges during World War II, the organization continued to grow. Over the years, some hostels have been sold or closed, but many have been bought and refurbished by individuals or community groups. The Independent Hostels network now comprises more than 50 reopened hostels.
Overall, while the YHA’s decision to sell some of its hostels may raise concerns, there is hope for the future of these properties. It is crucial that buyers who value their importance as hostels step forward. For those willing to embark on a new adventure, running a hostel offers a rewarding lifestyle change. The YHA welcomes inquiries from individuals interested in purchasing and operating their former hostels.
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