Safestay hails minimum 20-year management contract for hostel in Spain

(Alliance News) - Safestay PLC on Wednesday celebrated a management contract for an independent hostel in Spain for an initial 20-year term.

The London-based city centre hostels operator said it signed its first management contract to run the resort-based 120 bed Calpe Seafront Hostel on Spain's Costa Blanca on behalf of a property investment company.

Chair Larry Lipman said: "Safestay Calpe Seafront, while different in being resort based, is a unique hostel which will fit naturally into our network. I believe it will be a strong addition alongside our new Edinburgh hostel, which is also opening in June."

Safestay shares were flat at 19.00 pence each on Wednesday morning in London.

By Tom Budszus, Alliance News slot editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Safestay