Me and a buddy will be going to Rio for a couple days for the new years celebration. I was wondering what was the best hostel for us to look at staying at?

You guys are going to have a blast here over New Years! I suggest going with a private short term rental. You may find it more cost effective due to New Years and Carnival being the most expensive times a year to travel here.

Happy Travels!

There are loads of great hostels in Rio, and the New Year´s Eve party on Copacabana Beach has to be the best in the world! :-)
It really depends where you want to stay and what you want to pay. If you want to be at the heart of the nightlife district of Lapa, check out the very good and very cheap SambaVilla. In Ipanema, check out Harmonia, Wave Hostel or Lighthouse Hostel - they´re all close together on a safe little street near the beach. There are good hostels in Botafogo too - such as Tupiniquim and Green Hostel, and they´re generally cheaper than Copacabana and Ipanema. For more tips on where to stay and what to do in Rio, drop me a line or check out my pages

hey all!
There are many sites which can give you enough details about hostels that which one is the best:-
Rio de Janeiro Hostels - Hostel Reviews
Rio de Janeiro Hostels Listing - All Hostels in Rio de Janeiro at Hostels.com
RIO DE JANEIRO Best Hostels selection of the hostels around the world

Oie my friend! You will have a great time here for New Years!

I suggest two hostels:
~ Mango Tree in Ipanema
~ Cabana Copa in Copacabana

If you like I can make the reservations for you, which will give you a discount on shuttle service to and from the airport as well as any tours/adventures you may want to experience. American In Brasil Interactive

Boa viagem!

Mark
~american in brasil

Everytime I travel to Rio, I book at the Rio-Lisboa Hotel in Catete neighboorhood. It is quite central, very cheap, spic and span clean, located on a quiet street.

In Rio Brazil you can visit 2 hotels -

Best Western Rio Copa Hotel
Avenida Princesa Isabel, 370 - Copacabana, Rio de Janeiro - (0xx)21 2546-9500

And

Best Western Sol Ipanema Hotel
Avenida Vieira Souto, 320 - Ipanema, Rio de Janeiro - (0xx)21 2525-2020

teh good ones are in ipanema but are a bit expansive than the others!

see you!

In my last trip to rio i spend in Santa Teresa at Rio Hostel, and it's best one. Awesome view over downtown, great proximity to Lapa nightlife, and really funky boho carioca neighborhood.