Mark Smith 23 Oct 2010
Euro Hostel, the Glasgow-based hospitality business chaired by a member of the venerable Salvesen family, has revealed plans to open at least five new hostels in five years across the UK, the first of which next spring will mark its expansion into England.
The company, which is chaired by Andrew Salvesen, who is also a major shareholder in Euro Hostel, said it is investing £6 million to open in Newcastle city centre, and that over the next five years it plans to open hostels in Aberdeen, Manchester and London.
William McClelland, managing director of Euro Hostel, said the company had been holding back on the expansion because the banks had tightened their purse strings during the credit crunch, but that the situation was now beginning to loosen – although “not completely”.
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