Experience with Hostel?

[Kristi Miller]

I'm looking at buying an existing hostel with great P&L.  I've been through the numbers, met with owners, etc and it has amazing reviews on every traveler website.

The problem is, I live 1 hour away and cannot live on-site.  There's currently a "manager" who lives on-site and works 8-5 M-F and they hire "work for stay" people on the weekends to help with check-ins, etc..

I feel there's still a gap with someone being on-site to really be present and manage.  Current owners live across the street and are there daily. I would come 2 days/wk and do all the back office management from home (1 hr away).

Any experience in running a hostel?  Must the owner be on-site or is it ok to put trust and responsibility in a manager?  Thanks