"Experience-hungry ‘tripsters’ are fuelling the rise of the branded hostel with high design values."

"Demand has grown as millennials on short trips look for more cost-effective alternatives to hotels."

"Inexpensive accommodation in cities popular with youth travellers is still in short supply.  "

"Boarding house investment is seen as lower risk from a developers’ perspective, and new generation boarding houses offer an alternative form of investment. "

"Whilst not as luxurious as a five star luxury hotels, backpacker hostels can be quite lucrative investments."

"Room rates continue to rise and occupancy remains consistently high, so it is no surprise that hotels are proving attractive to overseas investors."