Generator Madrid

Forget what you think you know about hostels. In a bid to appeal to today’s young travelers, more companies are designing them to resemble high-end coworking spaces. Think private rooms, industrial-chic decor, walkability to the city’s hippest hot spots, and live events like beer tastings and DJs. Leading the charge is U.K.-based Generator, which has 13 outposts across Europe (and recently opened its first U.S. location, in Miami). Its latest European edition, Generator Madrid, which opened in June, sits on the edge of the trendy Malasaña district and boasts a bar, a rooftop lounge with whirlpool baths and even a quirky origin story: the building itself, which was built in the 1930s, has also been a parking garage and a gas station. As with all hostels, though, the most attractive feature is price: beds in shared rooms at Generator Madrid start at $11, far less than traditional hotels. —Kate Rockwood