Hostels have been evolving for some time now, but it always seemed to be in a quiet corner of the hospitality market. That's all changing as hostels draw greater interest from hotel giants and private equity. The evolution is being turbocharged by big money. The risk, or maybe the reward, is that hostels may be even more unrecognizable from their original concept. Europe Editor Patrick Whyte, who stayed in his fair share of hostels back in the day, delivers a smart deep dive below on the changing face of hostels and the challenges as major players move in.
