For anyone who's interested here's the text ot the YHA's press release on its 'Capital Strategy'. Yes it is closing hostels that people would like to see stay opem, but it's also investing in a lot of other hostels and opening new ones. You may well disagree with some or all of the decisions but taliking about 'cash raids' is simply misreprepresenting the position:
There's also an onteresting article here:
http://www.ukhillwal...em.php?id=60413
"08/02/2011
At their January meeting, the Board of Trustees agreed the following decisions on YHA’s Capital Strategy.
In the coming year YHA plans to invest more than £4 million in some of our best-loved Youth Hostels in England and Wales.
Investment will improve some of YHA’s most inspiring hostels including Black Sail in the Lake District and Woody’s Top in Lincolnshire. A major scheme to redevelop YHA Oxford Street in London and the opening of a new Youth Hostel at Berwick upon Tweed are also part of these exciting plans.
YHA is committed to have a network of Youth Hostels that meet the needs of our customers both now and in the future, one which will be financially sustainable, in which we can invest securely, and which is able to grow and support our charitable object. These plans are a major step towards achieving that goal, which will see a capital investment of more than £30 million in the next five years.
Other sites that will be invested in this year are Wilderhope in Shropshire, Rowen in Conwy, Grinton Lodge in North Yorkshire, Salcombe in Devon, Poppit Sands in Pembrokeshire, Tintagel in Cornwall, and Wells-next-the-Sea in Norfolk. This shows our commitment to the breath of our network spread across England and Wales
At the same time we have taken the difficult decision to announce the closure of eight Youth Hostels at the end of the 2011 season.
YHA Derwentwater, YHA Helvellyn, YHA Hawkshead, YHA Osmotherley, YHA Salisbury, YHA Arundel, YHA Totland and YHA Newcastle will be affected by this decision.
Closing a Youth Hostel is never easy and YHA does understand the impact this decision will have, particularly for members and guests who enjoy close links and have strong loyalties with this particular hostel. We are working closely with all of our staff who are affected by this decision.
By closing and selling hostels, YHA can release the capital value of these sites to pay for the future investments need elsewhere and to reduce the amount of money we need to borrow to meet our total investment needs."