We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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 | 19.50 | 19.00 | 19.50 | 0.00 | 08:00:39 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Hotels And Motels | 19.15M | -282k | -0.0043 | -44.19 | 12.35M |
TIDMSSTY
RNS Number : 0289C
Safestay PLC
13 June 2019
Safestay plc
("Safestay", the "Company" or the "Group"
Acquires Italian Hostel in Pisa
Safestay (AIM: SSTY), the owner and operator of an international brand of contemporary hostels, is pleased to announce that it has acquired the freehold of 'Hostel Pisa' for EUR3.25 million.
The acquisition of the 161 bed Hostel Pisa is part of the Group's strategy to establish a pan-European network of premium hostels, located in popular tourist cities. The addition of Hostel Pisa takes the portfolio to fourteen hostels and with the recent fund raising and pipeline of potential sites, the Company is well placed to reach its shorter-term target of owning and operating 20 hostels.
A very popular destination to visit in Italy's famous region of Tuscany, Pisa attracts over one million visitors each year, all keen to see its famous architecture from the Cathedral of Santa Maria Assunta to the Leaning Tower of Pisa.
Hostel Pisa is located in the city centre, around the corner from Pisa train station and a 15 minute walk from the airport. Established in 2013, Hostel Pisa is a well maintained successful business with good quality bedrooms offering a contemporary hostel experience which fits neatly within the Safestay portfolio. Serving a true Italian culinary experience to guests sitting in a grape filled garden, it is a popular choice in this sought after tourist city.
The property is freehold and in the 12 months to 31 December 2018 generated revenues of EUR0.8 million and EBITDA of EUR0.3 million. The total consideration of EUR3.25 million will be satisfied in cash, from the Group's existing cash resources. Given the good condition of the building and facilities, the only investment required will be to re-brand the building to become a Safestay Hostel at an approximate cost of EUR50,000.
The Group's portfolio now consists of:
-- 4 sites in the UK: York, Edinburgh and two in London
-- 10 sites in Europe: Brussels, Lisbon, Madrid, Paris (under construction), Pisa, Prague, Vienna and three in Barcelona
-- 3,297 beds across all 14 hostels
Larry Lipman, Chairman of Safestay, said:
"It is very pleasing to be announcing the completion of this acquisition. Hostel Pisa is an excellent addition and a natural fit within our portfolio. Currently it operates independently, and we are confident that within the Safestay portfolio it has the potential to excel, taking advantage of our brand, purchasing power and ability to promote Pisa to guests staying in any of our other hostels.
The Group as a whole is trading well and in line with market expectations. Demand has been strong overall and bookings for the summer look good."
Enquiries
Safestay plc +44 (0) 20 8815 1600 Larry Lipman Canaccord Genuity Limited (Nominated Adviser and Broker) +44 (0) 20 7523 8000 Chris Connors 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/
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
ACQSFSFMEFUSEIM
(END) Dow Jones Newswires
June 13, 2019 02:00 ET (06:00 GMT)
1 Year Safestay Chart |
1 Month Safestay Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions