acquired its first hostel in 2002 in order to establish foothold in the industry (Izon).
Twelve years later, they now own thirteen hostels across Australia and New Zealand. Michael
Issenberg, managing director in Australia and New Zealand for Accor, explained the company’s
interest: “The political and economic events of the past few years have highlighted that the
backpacker sector is highly resilient and is set to grow even faster in the next few years as more
‘traditional’ travelers are attracted by the backpacker style of travel.”Given the relative newness of the hostel concept, there is little research surrounding the industry,
especially in comparison with the mature body of research conducted on the hotel industry.