MoneyPit Hostel is listed as .5 miles west of AT crosssing of PA501... This hostel is in the 2007 AT Companion.
Checkout extract from the journal entry of May 8, http://www.trailjournals.com/entry.cfm?ID=178946 , from Groovasaurus,
anyone else had experience(s) with this hostel/hostile????.... "There we were, sitting in the middle of an 800$ deal for a Vischle, when the puppy for sale took a dump about two feet from my pack (Let me remind you, we were sitting in the living room of the Moneypit). It was then that Twister said to me in german, "Da isch nix" which in the right tone of voice translates into "Let's get the hell out of here!" Which is exactly what we did.
We ended up walking up to 501 and hitching into Pine Grove to have a phenomenal dinner at Schols Family Diner. The owner of the establishment, Steve, was extremely kind and gave us a ride back up to the 501 Shelter (which is where we should have planned to stay in the first place).
Moral of this story: Avoid any hotel/hostel/motel/inn with the word "pit" in the name of the establishment!"