Millennials’ desire for unique experiences is driving investors to put their money into hostels. Poised to be “one of the biggest travel trends of the next decade,” more affordable shared spaces that don’t fit the traditional hotel molds have become the accommodation of choice for young consumers, who are looking for authenticity and “photo-worthy opportunities.” Big name investors are putting large sums of money on the line to get in on the market, including one billionaire who raised $250 million to open hostels in the U.S. Already-established brands like Marriott and Hilton are also venturing into creating their own “hostel-like” concepts. (Forbes)
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