Here's a ray of sunshine for budget travellers. From today until Friday budget hostel site hostelbookers is offering customers the chance to bag a room in Europe or the US for as little as €0.20 a night.

Each day, for five days, 100 beds will be go on sale at 1pm GMT (so that's 2pm BST here in the UK) when customers can book up to two beds each per night. There are no hidden costs or strings attached.

The offer is for arrival dates between 31 May and 4 June, at selected hostels in 10 popular destinations, for example, Amstel House, in the historic Berlin district of Tiergarten. Built in art nouveau style and dating back to 1914, it's been renovated as a modern hostel for groups, backpackers, families and single travellers.

Reservations are on a first-come-first-served basis, so you'll have to be quick off the mark…