myself I was one of the early travellers that stayed at the worlds first "BACKKPACKER" in Sydney - Australia. The place was situated at 162 Victoria Street, Potts Point, NSW, 2011. Also known as Kings Cross - the red light district of Sydney.  It was and still is a really great place!
The bloke that had the idea to provide cheap accomodation for young people travelling on low budget was named Thomas Cook. (No family ties to the world wide known travel agency!)
He sold the business about 10 yers ago and the place is now called "The Original  Backpacker". Sure, the rates have gone up since I stayed for the first time. (Once was 3,00 Aussie$ a night in 1980 if payed cash for a whole week in advance.)  
Each time I 'm in Sydney I still stay there and I promise you, I now could afford a suite in The Wentworth instead....