For Los Angeles' throngs of visitors, there is an alternative to pricey housing or hotels: hostels. With a rich history outside of the US, the hostel industry continues to grow in the states, because of popular, European-minded establishments like this one in the center of Hollywood. Hollywood Youth Hostel features 24-hour reception and security as well as dorm rooms featuring 4 to 6 beds. The hostel provides free tea and coffee all day and features a pool table, washer and dryer, and around-the-clock housekeeping services. The bar has weekly karaoke nights and movie nights, but once a year they get another form of entertainment: the hostel has a perfect view of the Kodak Theatres red carpet where the Academy Awards are held!