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YHA Investment at YHA in 2016
    12/05/2016 02:32

Investment at YHA in 2016

Investment at YHA in 2016

Over the last 6 years, YHA has invested over £30million in our network of hostels in both rural and urban locations. During this period, we have seen our occupancy rates rise from 50% to over 60%, overnight stays move from 1.7 to 1.8million and our income increase from £39.4million to £46.0million.

We have furthered our vision to reach more young people. We have created more opportunities for them to broaden their horizons, and to gain knowledge and independence through new experiences of adventure and discovery. Last year alone, more than ½ million young people under the age of 26 enjoyed safe, healthy and fun experiences with us.

As we look across every area of our charity we can see success like never before. Our trading continues to grow in sophistication and scale. Our hostel network has never looked better. We have agreed plans to invest a further £30 million over the next 5 years. This will ensure that all hostels are equipped to meet the increasing demands of our visitors and guests.

The diversity of our hostels makes YHA unique and this will be maintained with a network of hostels of all shapes and sizes in locations that our guests want to visit. Over 80% of hostels will be located in rural areas providing affordable access to our National Parks and Areas of Outstanding Natural Beauty.

We remain committed to our Enterprise scheme - a franchise model that allows individuals to operate their own properties as YHA Youth Hostels. This model has already proved to be very successful and has increased the number of hostels available to our customers by 21.

In autumn 2016, investment will start across the whole range of our hostels - from large hostels in urban and coastal locations, including YHA Bath and YHA Swanage, to some of smallest hostels such as YHA St David’s on the Pembrokeshire Coast and YHA Tanners Hatch in the Surrey Hills.

Previously it was necessary to fund major investments from the proceeds of hostel disposals. We are now in a much stronger position. Our improved financial performance gives us confidence to fund investments through external financing.

Our London hostels not only help us deliver our charitable object but, with high year-round occupancy rates, they also form the backbone of our financial stability. The Board is therefore keen to further strengthen our presence in London. We have secured an option on land near to the Olympic Park at Stratford. When developed, this will provide a purpose-built hostel focussed on providing a world-class experience to the many groups of young people, from both the UK and abroad, who are keen to experience the culture of one of the world’s most iconic capital cities.

YHA’s Board has confidence in our plans to create a hostel network that will maintain our diversity, improve our financial sustainability and, most importantly, increase our reach and impact on young people.

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