Leading youth accommodation provider Clink Hostels continues with its ambitious growth plans after securing approx €30m in debt funding from Bain Capital, with new hostel developments in Dublin and Lisbon paving the way for a significant European-wide expansion.
These two new properties - which are set to open over the next few years - will see the B-Corp striving business become the sixth largest hostel brand on the continent.
Currently under development, Clink’s 628-bed Dublin site is scheduled to open spring 2023 and will be the biggest hostel in the city. The 11-storey building is centrally located in Abbey Street - just a few minutes walk away from the city’s famous Temple Bar district - and is regarded as one of the most up-and-coming areas of the city.
Creating a new standard for the Irish market, the purpose-built Dublin hostel will contain a mix of both dormitory style and private rooms, with the majority of rooms offering ensuite facilities and all with air conditioning.
Similarly to other Clink locations, the property will have strong local character and eclectic design that will spark and excite the imagination of its guests. It will also be the highest energy-environmentally rated hostel in Ireland.
Clink CEO Mark Fenelon said: “Dublin is an increasingly popular big city gateway and while the visitor numbers are beginning to return to the 11 million pre-Covid figures, what’s obvious is that there’s a real lack of high quality ultra budget accommodation for 18-30’s despite massive demand.
“With only two leading hostel market players in the city, we decided to grasp the huge opportunity and build this incredible hostel that is really in tune with our guests and the city of Dublin.
“We will offer our guests a high spec, modern and centrally located property, full of like minded travellers looking to explore and connect, all for around €25 a night. This hostel will be a massive market disruptor providing a real ultra-budget alternative to the cost conscious, experience seeking traveller in a market dominated by expensive hotel formats.”
In addition to this, the group is also in the process of the planning for an approximate 700-bed hostel in Lisbon in the prime city location of Rua de Palma.
On the road to recovery from the pandemic, the hostel group sees huge potential for further growth and expansion in all prime European cities.