The Collaborative International Dictionary of English v.0.48:

Hostel \Hos"tel\, n. [OE. hostel, ostel, OF. hostel, ostel, LL.
   hospitale, hospitalis, fr. L. hospitalis. See Hospital, and
   cf. Hotel.]
   1. An inn. [Archaic] --Poe.
      [1913 Webster]

            So pass I hostel, hall, and grange.   --Tennyson.
      [1913 Webster]

   2. A small, unendowed college in Oxford or Cambridge. [Obs.]
      --Holinshed.
      [1913 Webster]

WordNet (r) 3.0 (2006):

hostel
    n 1: a hotel providing overnight lodging for travelers [syn:
         hostel, hostelry, inn, lodge, auberge]
    2: inexpensive supervised lodging (especially for youths on
       bicycling trips) [syn: hostel, youth hostel, student
       lodging]

Moby Thesaurus II by Grady Ward, 1.0:

22 Moby Thesaurus words for "hostel":
   boardinghouse, dorm, dormitory, doss house, fleabag, flophouse,
   guest house, hospice, hostelry, hotel, inn, lodge, lodging house,
   ordinary, pension, posada, pub, public, public house, roadhouse,
   rooming house, tavern