More than 10 tourism experts from China and abroad gathered at a seminar at the Loft Youth Hostel in the Overseas Chinese Town Tuesday to promote the youth hostel movement.

The Loft Youth Hostel, which opened in August, charges only 50 yuan (6.25 U.S. dollars) per bed per night from members who pay an annual fee of 70 yuan, which also guarantees discounts at other youth hostels on the mainland. A budget hotel in Shenzhen normally charges more than 150 yuan for a standard room.

"Youth hostels, often compared with budget hotels, are different in that they promote the ideas of cultural exchanges, environmental protection and social responsibility in addition to cheap and comfortable rooms," said Rawdon Lau, former secretary general of International Youth Hostel Federation (IYHF) based in the United Kingdom.

(For more biz stories, please visit Industry Updates)