The hostel market is viewed with mild disdain by most in the real estate investment community, but some savvy investors on both sides of the Atlantic are warming to the idea of hostels as an alternative asset class. Nicholas Worsley of CBRE Hotels takes a look in a special report.
It`s fair to say that there is not one area of our every day lives that hasn`t been negatively affected by the recession. As the world has plummeted into a global economic crisis we have all had no choice but to tighten our purse strings and be much more careful about the way in which we spend our money.
Newsweek, Inc., a wholly-owned subsidiary of The Washington Post Company, announced today that it has entered into an agreement with an affiliate of Fletcher Asset Management, Inc. (Fletcher) to acquire all of Newsweek’s equity interests in Newsweek Budget Travel, Inc. (Budget Travel).
Travel experts have warned of a “ticking timebomb” for travel companies as Ireland’s biggest tour operator goes to the wall. PriceWaterhouseCoopers claim the demise of Budget Travel could herald the start of a wave of insolvencies across the sector. For the first three quarters of this year the rate of travel insolvencies was 13 percent higher than for the same period in the previous year.