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Can a hostel MAKE MONEY?! | Hostel Management Discussion
Source: hostelmanagement.com
Article summary:
1. The author is unsure if they can make a profit from running a hostel due to the high cost of real estate.
2. The author estimates that a loan of $300,000 would require at least $2,500 in monthly payments for mortgage, utilities and taxes.
3. The author questions whether it is realistic to make at least $80 per day to cover these costs and wonders if running a hostel is more of a lifestyle choice than an investment opportunity.
Article analysis:
The article provides an honest assessment of the potential financial risks associated with running a hostel, but does not provide any evidence or data to support its claims. For example, the author states that a loan of $300,000 would require at least $2,500 in monthly payments for mortgage, utilities and taxes without providing any sources or calculations to back up this claim. Additionally, the article does not explore any potential counterarguments or alternative perspectives on the issue. It also fails to consider other factors such as marketing strategies or operational costs which could potentially increase profits and offset some of the initial costs associated with opening a hostel. Furthermore, the article does not present both sides equally; instead it focuses solely on the potential risks associated with running a hostel without exploring any potential benefits or advantages that could be gained from doing so. As such, this article should be read with caution as it may be biased towards presenting only one side of the argument and may not provide an accurate representation of all aspects involved in running a successful hostel business.