Last checked at 5 May 2015 07:01
Safestay PLC
("Safestay" or "the Company")
Publication of Report & Accounts
Safestay (AIM: SSTY), the owner and operator of a luxury hostel brand, announces that its report & accounts for the period ended 31 December 2014 have been sent to shareholders and copies are available on the Company's website, www.safestay.co.uk.
The Company's Annual General Meeting will be held at 10.00am on 2 June 2015 at Safestay Elephant & Castle, 144 - 152 Walworth Road, London SE17 1JL.
For further information:
Safestay | |
Larry Lipman, Chairman | Tel: 020 8815 1600 |
Colin Stone, Finance Director |
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Westhouse Securities (Nomad and Broker) |
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Tom Griffiths | Tel: 020 7601 6100 |
David Coaten |
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Novella |
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Tim Robertson | Tel: 020 3151 7008 |
Ben Heath |
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About Safestay:
· Safestay is a new brand of luxury hostel, designed to appeal to a broad range of guests. Known as a "boutique hostel" within the travel industry, it is aimed at providing safe, stylish accommodation which offers a more attractive alternative to both traditional hostels and budget hotel accommodation.
· Established in April 2011 as a joint venture between the Moorfield Funds and the Safeland Group, the Company then listed on AIM in May 2014, to widen the shareholder base and raise new equity to support the European roll-out of the Safestay brand.
· Today, the Group operates from three sites 2 in London and 1 in York and once refurbishments are complete will have c.1000 beds.
· The Group wishes to expand the business by the acquisition and development of further properties and create a branded hostel group known for providing safe and stylish, but relatively inexpensive accommodation.
· The current hostel market is undergoing substantial change, after years of little of no investment, the concept of staying in clean, safe, stylish rooms for an average of £20 has gained momentum and there is, in the opinion of the Directors, the potential for significant growth and sector consolidation.