In April YHA identified eight hostels for closure and sale as part of the capital strategy. The strategy aims to make sure that YHA is financially sustainable, has a network of the right size and is able to reach out to more young people.
YHA is able to do more and to reach out to more people by closing and selling these sites. YHA can release the value of these sites to pay for much needed investment elsewhere and to ensure that the network of Youth Hostels is more financially sustainable for the future.
Seven hostels are currently on the market including YHA Hunstanton, Norfolk, which is under offer to a hostel operator.
There is interest from potential hostel operators in YHA Kendal, Cumbria, and YHA Capel Curig, Gwynedd. YHA River Dart, Devon, is being marketed for residential use, to be sold potentially for one or two residential properties and YHA Saffron Walden in Essex was launched on the market, last month, for sale as a residential property.
Other hostels on the market are YHA’s Scarborough, Yorkshire, and Grasmere Thorney How, Cumbria. Exeter in Devon will be on the market later next year.