After nearly 100 years of providing “simple accommodation for all”, the Youth Hostel Association is selling 20 of its 150 hostels in England and Wales. In a statement, the YHA said the decision had been taken after a difficult few years for the charity. “Pandemic shutdowns, the cost of living crisis and steep inflation have affected us like other charities and hospitality providers,” it said.
The sell-off is the first step in a three-year business plan announced on 23 June “to secure YHA’s long-term prosperity”. The Covid pandemic hit the charity hard: the YHA lost more than 80% of its income in 2020/21. Now 90% of its income comes from just 60% of its hostels. The restructure will focus on raising occupancy at the more popular properties, aiming to increase customers by 30% while reducing staff by 20%.
