a&o Hostels closes 2018 with an income of 152 million and five million overnight stays

The company a&o Hostels closed 2018 with a total of 5 million overnight stays and a turnover of almost 152 million euros, as reported by the accommodation company, which last year carried out two new openings and secured future locations for new accommodation in Poland , Hungary and Spain.

Currently, a & o operates 35 establishments and 26,000 accommodation places in 21 cities in six countries (25 of them located in Germany), with an average occupancy of 66%.

In 2017, a & o Hostels was acquired by the US investment group TPG Real Estate, current owners of the chain, although the company remains under the management of its founder after 18 years of life.

The European expansion of a & o has advanced in 2018, with the second opening in Venice, and will continue with the openings in Warsaw and Budapest, scheduled for the end of 2019, and in Copenhagen, scheduled for 2020. Also in 2018, the company acquired its first active in Barcelona, ​​with the objective of opening a market in the Iberian Peninsula.

According to company data, group travel was the most important segment for a & o Hostels. In its facilities 125,000 families, 13,000 students in school trips and groups of nine or more people were housed and, in addition, it is also emerging as an alternative for business travelers, or for senior tourists.