Hostelworld.com is the worldâ€™s number one hostel booking website. The flagship brand of parent company Web Reservations International (WRI), the site was launched in 1999 when a hostel owner and IT entrepreneur identified a niche in the market to introduce online bookings into hostels. Prior to 1999 no technology solution existed which enabled customers to make, and hostels to take secure confirmed payments via the internet. The company went from strength to strength and has gone on to become the leading provider of online reservations for the budget, independent and youth travel market. Its optimal business model and the use of best of breed technology enable the company to profitably distribute low cost product.