As Airbnb falters, hostels seek to compete

By SALLY FRENCH of NerdWallet

Airbnb may have met its match. There’s no shortage of customers who have sworn off the company after being ghosted by owners or hit with unexpected cleaning fees. Airbnb’s operation in New York City is severely restricted, given new regulations implemented in 2023. Meanwhile, hostels — which largely struggled during the pandemic amid concerns about sharing rooms — are back. Berlin-based hostel chain a&o Hotels and Hostels  announced its best half-year earnings in the company’s history for the first half of 2023. Meanwhile, Hostelling International USA (HI USA) said occupancy is up 10% versus last year and up 360% versus 2021.