They offer a clean, safe lodging bargain that just can't be beat. Bathrooms are communal and down the hall. If, like me, you're loner, it may be less than desirable. However, the great price can make the trade-off a more than fair one. Hostelling is an excellent way for a family to stretch their travel dollars as the lodging is cheap and the on-site kitchen facilities usually available can even provide substantial food savings.
Some hostels offer meals at a minimal price.
Those in Europe almost always include breakfast with the cost of your room. Others have kitchens which are shared by the guests, providing an opportunity to save big time on food. Pots, pans, dishes etc. are provided. You provide the groceries and do the clean up. Many hostels provide other benefits as well, such as recreational equipment, tour programs, discounts for local tours and attractions etc.