Hostel investor and operator Kabannas has acquired three hostels in the UK previously run through the Youth Hostel Association (YHA).
Financial details were not disclosed.
The fledgling micro accommodation specialist, which was launched in November of last year, is overseen by Mark Fenelon, former CEO of Clink Hostels, headquartered in Dublin.
The Kabannas properties in Liverpool, Newcastle and London St Pancras are already operational.
According to media sources, the business is targeting €100 mln-plus acquisitions of micro hospitality assets as part of expansion plans.
Kabannas is backed by RoundShield, a private investment firm focused on European special opportunities.
Earlier this summer, the Youth Hostel Association placed some 20 hostels across England and Wales on the market. As well as the 20 Youth Hostels, another 13 independent hostels, operated under franchise agreements, were also put up for sale.
In response to news of Youth Hostel sales, Sam Dalley, director of Independent Hostels, commented: 'Hostels occupy a vital niche in the outdoor industry, offering flexible, self-catering accommodation to all ages.
'The model of hostel accommodation, with shared facilities, is one of the most sustainable forms of tourism around.'
