Since Hostel Part II doesn't have to hide the intentions of the torturers or set up a mystery as to why young backpackers are being kidnapped, the most noticeable aspect of this film is getting the chance to see the world of Hostel from the buyer's point-of-view. Yes, most of the movie follows a quartet of young women who find themselves on the market, but you also get to see how people join the murder-club and how they vie for the chance to get their rocks off.
Where the first movie had several male, college-age kids stumbling across the wrong hostel, this one involves a group of women in search of the next European party. Unfortunately, like the last group, this gang ends up in the hostel that this murder-for-profit business uses for scouting out its next victims. Their images are immediately put up for auction and members worldwide put in their bids to be the killers for these young women.
Along with these women, we see a couple of friends who have bought their way into the murder business and have one the chance to kill two of the main characters. One of the murderers-to-be is Todd, your typical good 'ol boy who knows what he wants in life and will do whatever it takes to get it. Meanwhile, his life-long friend, Paxton, is mousey and fairly intimidated by his wife. Both Todd and Paxton win bids on two of the girls in this movie and, while Todd is all for the murdering (as the next big thrill), he has to convince Paxton that this is what he needs to do in order to finally get some respect.
I didn't like the first movie a whole lot. It felt like there was a lot of build-up for a small twist, something that really wasn't all that shocking - the twist in the first movie being the nature of the kidnappings and business. Since this film didn't have to do any of that build-up, it could focus more on character development and ultimately became a better film overall. I felt the twist at the end of this movie was a lot better than the previous, and I felt like all of the characters (on both sides of the transaction) were much more believable.
The Unrated Director's Cut version comes with a ton of special features. Besides the Deleted Scenes and standard commentaries, these special features also include a whole slew of featurettes letting you see everything from production design to how the creators attempted to up the ante with the second film. Also of note in the special features is a radio interview with creator Eli Roth and a Gag Reel (always a blast).
Hostel Part II is better than the first movie. If you liked the previous installment, then this one is a must see. If you were only mildly entertained by the original, then you might like this one more. On the other hand, if you are weary of the gore-heavy trend in current horror movies (i.e. Saw), then the numerous and graphic murder scenes in this movie will turn you off.