Completion of Acquisition

RNS Number : 5429R
Safestay PLC
30 October 2019
 

 

30 October 2019

 

 

Safestay plc

("Safestay", the "Company" or the "Group")

Acquisition of Glasgow Hotel

 

Further to the announcement made on 18 September 2019, Safestay (AIM: SSTY), the owner and operator of an international brand of contemporary hostels, is pleased to announce that it has completed the acquisition of the 'Best Western Glasgow City Hotel', for £3.15 million.

Larry Lipman, Chairman of Safestay, said:

"Glasgow is a popular city and this site is therefore a strong addition to our portfolio, once the conversion is complete from 52 bed hotel to 200 bed hostel, we anticipate Safestay Glasgow will work extremely well for us alongside our 610 bed site in Edinburgh."

Enquiries

Safestay plc 

+44 (0) 20 8815 1600

Larry Lipman

 

 

 

Canaccord Genuity Limited
(Nominated Adviser and Broker)

+44 (0) 20 7523 8000

Bobbie Hilliam

 

 

 

Novella

+44 (0) 20 3151 7008

Tim Robertson

 

Fergus Young

 

 

 

 

For more information visit our:

Website www.safestay.com 

Vox Markets page https://www.voxmarkets.co.uk/company/SSTY/news/

Instagram page www.instagram.com/safestayhostels/

 


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