a&o Hostels

Oliver Winter, Founder and CEO

Asset class: Hotels & Resorts
Where: 46 properties in 32 cities across 10 European countries; headquartered in Berlin
Stage: Operating

What it is: Europe's largest hostel group, with hotel-standard private rooms and dorm beds under one roof. Almost every room has its own bathroom, and buildings add shared kitchens, bars, lounges and work areas. Guests range from school groups and students to families and independent travellers.
The gap: Winter founded a&o in Berlin in 2000 on an idea from his own travels: affordable, professionally run beds in city centres for young people. Hostels then meant shared bathrooms and basic rooms.
The answer: A lean model with more beds per room, fewer staff and a cheaper fit-out than a budget hotel, which put break-even occupancy at around 30% (company figure, 2023). Most properties are conversions of offices, hotels and commercial buildings, and a premium sister brand, Schulz, is growing.

31,600beds across the group, 2025 figures published July 2026

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