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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Safestay Plc | LSE:SSTY | London | Ordinary Share | GB00BKT0J702 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 19.00 | 18.00 | 20.00 | 19.00 | 19.00 | 19.00 | 0.00 | 07:45:38 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Hotels And Motels | 19.15M | -282k | -0.0043 | -44.19 | 12.35M |
From Apr 2019 to Apr 2024
TIDMSSTY
RNS Number : 7755E
Safestay PLC
20 July 2016
20 July 2016
Safestay plc
("Safestay", the "Company" or the "Group")
Revaluation of Safestay Elephant & Castle
Safestay (AIM: SSTY), the owner and operator of a new brand of contemporary hostel, announces that is has completed an independent revaluation of its flagship site in London's Elephant & Castle ("Safestay Elephant & Castle").
The valuation was carried out by Cushman and Wakefield. As a result of the exercise, the carrying value of Safestay Elephant & Castle has increased from GBP12.2m, as disclosed in the Company's 2016 Annual Report, to GBP16m.
The uplift has been driven by the hostel's strong trading performance since it was acquired by Safestay in 2014, building further on the year-on-year increases in occupancy, average bed rate and revenue per available room announced in our Final Results in April. This continued improvement in performance reflects the strength of the hostel's location in an exciting, rapidly developing area of central London, improvements made to food and beverage offering and the high quality of service our staff are delivering to customers.
Larry Lipman, Group Chairman, commented "We are very pleased with the performance of Safestay Elephant & Castle and are confident we can continue to drive further improvements from this great site."
- ENDS -
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
Enquiries:
Hot Features
Premium
+44 (0) 208 8151
Safestay plc 600
Larry Lipman, Chairman
Philip Houghton, Chief Executive
Officer
+44 (0) 020 7523
Canaccord Genuity Limited 8000
Bruce Garrow
Chris Connors
Ben Griffiths
+44 (0) 20 3151
Novella Communications 7008
Tim Robertson
Toby Andrews
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCSEDFLSFMSEFW
(END) Dow Jones Newswires
July 20, 2016 10:14 ET (14:14 GMT)
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