Experience with Hostel?

[Kristi Miller]

I'm looking at buying an existing hostel with great P&L.  I've been through the numbers, met with owners, etc and it has amazing reviews on every traveler website.

The problem is, I live 1 hour away and cannot live on-site.  There's currently a "manager" who lives on-site and works 8-5 M-F and they hire "work for stay" people on the weekends to help with check-ins, etc..

I feel there's still a gap with someone being on-site to really be present and manage.  Current owners live across the street and are there daily. I would come 2 days/wk and do all the back office management from home (1 hr away).

Any experience in running a hostel?  Must the owner be on-site or is it ok to put trust and responsibility in a manager?  Thanks

[Scott E.]

I don't have experience owning a hostel so just take my post with a grain of salt. But figured I'd get the conversation going.

Do you have other work obligations at this time?

If not, I would plan on spending the next couple months commuting to this place at a minimum 8-5 M-F to spend time with the current 'manager' and learn everything you can about the intricacies of this operation. An hour commute is annoying. But not unreasonable to make daily for a few months.

It's definitely ok to put trust and responsibility in a manager to run almost any business. But in my opinion, it's important that you (the owner) knows everything there is to know about the business. That is the only way you can be an effective manager to your manager.