The Booking Site Capitalizing on Upscale Hybrid Hostels
First popularized in Europe, the budget design hotel and upscale hybrid hotel/hostel model, with single and multi-bed units, are answering growing demand for cheap, cool and centrally located lodging in high demand cities.
Meanwhile, independent properties are also sprouting up worldwide to attract consumers who want to stay in a popular neighborhood without blowing their travel budget on a room. Many of them are also not necessarily interested in Airbnb as a low-price option because they want the sense of community, F&B and/or programming that a hotel environment provides.
Servicing this growing market, ThePoshpacker.com is a booking site with about 200 hybrid hotel/hostels and budget hotels in its inventory with the majority selling for $100 per night or less. The portfolio consists of about 65% hostels and hybrids, and 35% true hotels.
Poshpacker began in 2010 when twentysomething friends Anna Kojzar and Tania Cruz were traveling through the Canary Islands, feeling flustered because they couldn’t easily find a hip, affordable place to stay. Read more…