Each week, we give you a run down of the hostel industry insights and offer our take (we can also provide a variety of GIFs for your entertainment, too!).
1. CRYPTO-THEMED HOSTELS ON THE RISE
“The owner told local Brazilian media source, Portal do Bitcoin, that all the services offered at the establishment, including meals and tours can be paid for with cryptocurrency.” – Source.
A cryptocurrency themed hostel has opened in the popular town of Paraty in Brazil. Hostel Bitcoin, which opened its doors on 16th August, is owned by a Brazilian architect and engineer who came up with the idea after meeting a large number of tourists who were interested in cryptocurrency.
The hostel will only accept bitcoin for the first few months before eventually starting to accept other payment methods. The owner hopes that the success of his hostel will help boost acceptance of cryptocurrencies for payments at other Paraty tourism businesses.
There are now a number of hostels across the world accepting cryptocurrency as payment for accommodation and tours, including the Tribe Theory group who cater to the entrepreneurial community. It will be interesting to see how this the trend develops and whether more travellers adopt this payment method in the future.
2. INSPIRING INFLUENCERS ARE CHANGING THE TRAVEL WORLD
“Through social media, travel brands and hotels can offer millennials the opportunity to live their best life, much as their favourite influencers do.” – Source.
Millennials spend one in every five mobile minutes on either Instagram or Facebook so there is little wonder that influencer marketing has become one of the most powerful ways of reaching potential guests during the ‘traveller booking journey’.
Influencer’s online followers are personally attached and invested in who they are, what they are doing and where they are going. Influencers, such as bloggers and vloggers, tap into the ‘aspirational drives’ of their audience and show aspects of their lives which their followers wish they were experiencing and strive to replicate themselves.
Investing both time and money into working with influencers is a hugely powerful way for hostels to reach potential guests during their ‘dreaming’ and ‘planning’ phases – the exact time that a traveller’s buying decision is most likely to be influenced.
Collaborating with relevant influencers whose target market is similar to your own can help boost your hostel’s bookings and grow brand awareness.
3. HOSTELWORLD GET SET TO SAY GOODBYE TO SISTER SITES
“I think we are now at a point where we will shutter those brands and redirect to the main Hostelworld brand.” – Source.
Hostelworld’s new Chief Executive, Gary Morrison, has announced plans to shut down supporting websites – Hostelbookers and Hostels.com – as part of a strategy to promote the company’s core brand.
He explained that the supporting websites do not allow free cancellations nor do they have a smartphone app. Hostelworld’s mobile app – the ‘cornerstone’ of their strategy – allows customers to book more easily with 57% of bookings in the first half of 2018 made through mobile devices (a 7% rise on this time last year). The supporting websites have seen a drop in bookings which also influences this latest change.
It was also reported that the company has seen a 2% rise in bookings in the first half of this year. However, this rise is not set to show in the numbers for the whole of 2018 as the World Cup and unusually hot weather in Europe encouraged many travellers to stay in their home countries this summer.
These latest changes are part of a wider restructure which will be further detailed when the company publishes a broader business plan later in the year. For now, supporting sites will be closed and their links will redirect customers to the main Hostelworld site.
Enjoy reading our blog?
You can get all the latest industry news, exclusive marketing tips & our special offers straight to your inbox by subscribing to our email newsletter.
PLUS you’ll receive a FREE guide to upgrading your hostel’s digital marketing when you sign up…
