The Hammersmith-based Beds and Bars chain is planning to more than double the company’s annual turnover to £100m from the current figure of £39.06m.
The company's strategy to reach the £100m goal includes investment, join venture developments, and franchising.
The backpacker hostel and bar group's turnover has risen by £9m in the last two financial years which stood at £30.2m in 2012.
Beds and Bars operates various brands including St Christopher's Inns, Belushi's Bars, Flying Pig Hostels, Winston Kingdom, and Bauhaus Hostel & Hotel.