Notice of Results

RNS Number : 9516H

Safestay PLC

19 March 2015

 



Safestay PLC

("Safestay" or "the Company")

Notification of Results

Safestay (AIM: SSTY), the owner and operator of a luxury hostel brand, will announce its final results for the year ended 31 December 2014 on Monday 13 April 2015.

For further information:

Safestay
Larry Lipman, Chairman	Tel: [phone]
Colin Stone, Finance Director
Westhouse Securities (Nomad and Broker)
Tom Griffiths	Tel: [phone]
David Coaten
Novella
Tim Robertson	Tel: [phone]
Ben Heath

To access Corporate Images of Safestay

https://www.flickr.com/photos/128855901@N03/

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.

 

END

 

 

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