In this episode of ELI, we sit down with Pranav, the founder and CEO of The Hosteller, India's largest self-operated backpacker hostel chain! Discover the journey of building a brand new hospitality concept in India, the key differences between hotels and hostels, and how The Hosteller caters to the adventurous spirit of young Indian travelers. Pranav shares his insights on overcoming initial challenges, navigating the COVID pandemic, fostering a strong community, leveraging social media for growth, and the importance of persistence in entrepreneurship. Tune in to learn about the booming backpacker culture in India!Chapters:0:00 Intro to Pranav & The Hosteller0:45 Understanding the Hostel Concept vs. Hotels1:29 The Hosteller's Target Audience and Their Needs2:10 Identifying the Gap in India's Budget Hospitality Market3:21 The Early Days: Educating the Indian Traveler4:04 Pranav's Journey to Entrepreneurship and the Love for Travel5:18 Discovering the Backpacker Hostel Concept in Europe6:27 Starting The Hosteller: Overcoming Initial Challenges8:21 Bootstrapping and Early Growth: Jaipur, Delhi, Manali9:08 Educating the Market About Backpacker Hostels10:11 The "Sticky" Nature of the Hostel Experience11:13 The Rapid Growth of the Backpacker Hostel Category in India12:04 Customer Acquisition Strategies: Website and OTAs12:57 The Importance of Social Media and Content Creation14:40 Addressing Safety and Security Concerns in Hostels15:57 Positioning Towards Travelers Who Understand the Culture17:00 Peer-to-Peer Watching and Female-Only Dorms18:33 Safety Record and Measures Taken19:45 Navigating the COVID Pandemic: Challenges and Opportunities21:39 The Lean Hospitality Model and Flexibility During Crisis22:24 Bold Moves During COVID: Expanding The Hosteller23:06 Building a Community Experience in Hostels24:20 Tapping into Accommodation, F&B, Transportation, and Activities24:59 Free Tours, Events, and Activities to Connect Travelers26:12 The Hosteller's Web App for Community Interaction26:44 Insights from User Analytics: Solo Female Travelers and Community Engagement28:20 The Trend of Smart Stays and Automation29:46 The Role of Customer Feedback and Negative Reviews in Improvement32:07 Defining the Entrepreneurial Journey: The Importance of Persistence33:33 Final Thoughts and Thank You