I often have guests comment that it's a dream of theirs to start up a hostel somewhere.  Recently I was chatting with a guest, and she was asking me how I liked running a hostel.  My answer?  I love it!
My hostel is such a great fit for me.  What do I love so much about my business?  
1. The people.  I meet incredible, fun, friendly people from all corners of the globe.  I'm really glad that Roatan is a destination that people tend to want to stay for awhile: I get many hostel guests that stay for a month or 2 at a time.  There are a few that are just in for a night or two, passing through on their way to the neighbouring island of Utila, and there are others that stay for just a few nights to check out the island, but the majority are here at least a week.  I think if I was in a destination that most people just passed through for a night or two at a time, I wouldn't enjoy running a hostel nearly as much.  I enjoy getting to know my guests, it's kind of like an extended family sometimes.  Since my kids and I live on property, I often go down to socialize with hostel guests in the evening, and my boys get to know many of our guests too.  I especially love it when we have guests return for another visit- we've had several of these this year, so nice to have familiar faces come back!
2. The projects.  I confess, I am a project addict.  I usually have several lists on the go of things that I'd like to get done, to improve on our space and add to what we offer.  The staff at the hardware store I visit most often all know me by name :)  
3. The challenge of growing a business.  It's my baby, my little creation that I've nurtured and grown, and it's so rewarding when someone contacts me to make a reservation and mentions that they've heard great things about us.  

For those of you who are considering starting a hostel somewhere, a few words of advice:
1. Spend a significant amount of time where you want to start your hostel before you take the plunge and commit to a business somewhere.  Make sure you like it enough to want to commit staying there for many years to come- a hostel isn't a business that gets success overnight, it grows as travelers start to talk about it.  You'll also want to figure out what your market is going to be there (yes, backpackers, but are they looking to party?  Do volunteer work?  Staying for skiing, surfing, diving?).  If it's a spot that everyone stays for a relatively short time, it's probably worth starting a restaurant right from the beginning, and maybe not worthwhile having a communal kitchen.
2. Start small and grow with your hostel (make sure you have room to grow).  It's much less scary and far more feasible if you start off with space for just a few, tweak things to make them work better, get lots of feedback with people staying with you, and then grow a bit at a time.  When I started, I wanted to keep my price as low as possible, so I did a surcharge for sheets (thinking there would be some people traveling with sleep sheets) and internet.  Everyone hated extra charges- I learned from the feedback, adjusted my rates up a bit and just included these things.  I also thought the dorms would be the main interest, but my private options book more, so as I've grown, I've added more privates to fill the need.
3. Own if possible.  I think that having to rent a space for a hostel would be tough, as it's not yours to do whatever you'd like to it, and rent pricing can increase.

What are the drawbacks of a hostel?  Well, I have to say I'm not a fan of the piles of laundry, and sometimes I feel pretty tethered to my business (I'm mostly a one-woman show, and I occasionally have drop-ins, so getting out and about can sometimes be challenging, and if we go away and have someone run things while we're gone, I feel nervous about leaving my 'baby' in someone else's hands).  I occasionally get interrupted during dinner, homework time etc, especially when the hostel's busy.  All of these will eventually be rectified when I find the right person to bring on to help me out, and it's all pretty minor.  Being the owner of my hostel puts a smile on my face every day.  To all those thinking about a hostel of their own, I hope you find the perfect fit for a business that's as rewarding as mine has been!

Being a hostel owner is a essentially mix of marketer, housekeeper, book-keeper, concierge/travel guide and mom to many.  The questions I'm most commonly asked by guests who are here are regarding onward travel. Tourist shuttles aren't so common in Honduras, and sometimes it's hard to find the information you need on the internet, especially as many sites are just in Spanish.  Here's a general overview of how to get here and onward travel  after your stay. 
To get to and from Roatan, you'll either need to take a boat or a plane.  The Galaxy Wave has a ferry that comes over twice daily from la Ceiba, departing La Ceiba at 9:30am and 4:30pm (when departing Roatan, the ferry leaves here at 7am and 2pm).  The ferry takes 1 1/2 hours, and costs about $33 each way.  Credit cards are accepted.  There is also a ferry from Utila, the Utila Dream, which runs between the two islands on Fridays, Saturdays and Sundays.
If you'd prefer to come by plane, sometimes SOSA has flight specials from La Ceiba that are almost the same price as the ferry, around 800 lemp.  There are also flights from San Pedro Sula and Tegucigalpa, but they are generally more expensive, normally over $100 one way.  There is also a daily flight from Belize City with Tropic Air, and one from San Salvador with Avianca, as well as international flights from several US cities.
From La Ceiba, there is a shuttle service that goes all the way to Leon, Nicaragua (takes about 15 hours), which is timed to match up with the morning ferry.  Both Hostal Guacamaya and Tornabe offer this shuttle service.  The days of the week that it runs vary, depending on who is signed up, and the cost is $60-$80 per person.  If you're headed to Nicaragua and don't opt for the shuttle, then you can take a bus to either San Pedro Sula or Tegucigalpa, spend the night, and then catch a direct international bus with TICA the following morning.
To get to Copan from la Ceiba, occasionally there are shuttles, but not on any fixed schedule.  If you want to take the morning ferry and get there the same day, the Hedman Alas bus line doesn't have any times that match up with getting there the same day, and many travelers are uneasy about taking a regular bus line.  You can take the Hedman Alas or Viana Clase Oro as far as San Pedro Sula, and then in the central bus station there (which is well-lit, lots of shops, food court, not scary), you can find a bus going to Copan so that you can get there the same day.  Even if you don't speak much Spanish, you shouldn't have any problems with this route.  From Copan, there are shuttle services operating to Antigua, Guatemala, as well as to El Salvador.  If you don't have any interest in checking out Copan (a pretty colonial town with Mayan ruins just outside of it), then you could overnight in San Pedro Sula and catch a direct international bus to either Guatemala City or El Salvador the following day.  San Pedro Sula is a city with a bad reputation, and most travelers would prefer not to set foot in it, but it's fine to pass through and to overnight when needed.  There's also an international airport there, and Spirit Airlines has very cheap fares to Houston and Fort Lauderdale.
If you're heading on to Belize, from the ferry, you can continue by bus as far as Omoa, then cross over and catch a bus to Puerto Barrios, Guatemala, from which point there are boats going to Punta Gorda (as well as boats going to Livingston, Guatemala, and then up the Rio Dulce).  This route is a 2 day journey, overnighting either in Puerto Barrios, Omoa, or San Pedro Sula, as it's not possible to take the morning ferry from Roatan and get all the way to Puerto Barrios in time for a boat out.
The other option to Belize is a boat that runs between Puerto Cortes, Honduras and Placencia, Belize, going to Belize on Mondays and back to Honduras on Fridays.  This is also a 2 day journey, departing Roatan on Sunday and overnighting in Puerto Cortes in order to be there in time for the Monday boat.
Occasionally a sailing charter goes between Roatan and Belize (Ambergris Cay).  The company is called Gemini and goes about once per month.