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Financial Sustainability

Creating fair profit and network development
 
In the year of sustainable tourism, Hostelling International have taken a month to discuss and point out hostels who are making an effort in financial sustainability. HI hostels have been here for over 100 years and this is one first good proof of financial sustainability. They have a great contribution on social and environmental areas through their ongoing dedicated programmes and activities. However, no great initiative can survive without being financially sustainable and this is a current challenge in this world. Digital revolution has disrupted the accommodation sector and we are facing challenges we have not faced before. 
 

 
Hostels need to be welcoming and maintain enough guests to cover their costs and hopefully be able to reinvest in further project and sustainable initiatives. As a membership organization we must protect a certain business model and ensure it remains sustainable.
 
Hostelling International has picked the following star projects for the month of financial sustainability:
 
Japan Youth Hostels have donated JPY250 per night per person in Peace week to provide disadvantaged children the opportunity to see the world. Donated money will be used for the Nature and Christmas programme for 30 children with Single Parent families in December and will also support the ski school for children with disabilities.
 
 
YHA England and Wales believe that there is a clear link between their impact as a charity and their sustainability. They think about the future and accept that their responsibilities include ensuring that they continue to deliver positive changes and securing the viability of the charity. As a charity, the income they generate is reinvested back into their network and programmes so that they can achieve greater reach and impact on young people, particularly those with challenging lives. This enables organisational sustainability, which is crucial for their future success. They can continue to transform lives in not only the present but also future generations.
 
 
Heart 2 Heart Youth Hostel, which is included in YHA China is another star project. The hostel is a social enterprise under the auspices of Yunnan Heart to Heart Community Care. They promote sustainable living practices, social and service learning, eco-farming, healthy eating, love and care of the countryside and animals. The ultimate objective is to achieve community development among the ethnic minority groups in the area. They want to build a harmonized community by means of local participation through hostelling, eco-farming and agricultural business.

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