Safestay trades at a 60% discount to book after results sell-off
The shares have fallen by more than a third since the half-year numbers. Asset sales have cut debt, but the market is focused on empty beds.
Company
Safestay
LON:SSTY
The Safestay hostel location is important to us, granting all our guest's easy access to city sights and tourist hotspots, with fantastic transport links. Safestay have set up home in some of the Europe's most luxurious locations, including grade I and grade II listed buildings in London, and a grand Georgian building in York. These ornate buildings are ideal for our Safestay hostel locations; the spacious rooms lend themselves perfectly to creating a comfortable atmosphere for our guests. What's important to us is that you have a comfortable and safe stay, all for a reasonable price. We have a dedicated, multilingual and well-trained team on hand to ensure everything runs smoothly from booking to departure. We want to make sure you have everything you need when you stay with us and all our rooms are fully equipped with free bed linen and secure lockers under each bed; ideal for international travellers whether you are on your own or with a group. If you are looking for budget accommodation in vibrant cities, we are the place to stay.
21 stories
Safestay opts to reject hostel takeover
The majority of the board was prepared to recommend an offer made at the "expression of interest price" but widespread support for the indicative offer was not forthcoming.
Safestay gets 'very early stage' approach, may put itself up for sale
Since reopening, the company’s hostels have seen occupancy improve month-on-month in line with internal forecasts
Safestay temporarily closes more hostels to save cash
Available beds were reduced to 45% of normal capacity
Safestay mulls freehold sales amidst ongoing uncertainty in tourism industry
“We are working closely on a range of options to strengthen our financial position," said Larry Lipman.
Safestay revenues climb as rapid expansion shows no signs of slowing
Revenues rose 39% to £14.6mln and occupancy rose to 75.6%
Millennials the way forward for Safestay's hostels business
Safestay operates ten hostels in various European cities and the flexibility of its guests means there are some unusual (and prime) locations
Safestay shares rise as hostel operator says performed strongly in 2017, with big rises in sales, occupancy
In a trading update for the 12 months to 31 December 2017, the AIM-listed company said its total revenues, excluding acquisitions made in 2017, rose by 43% to £10.6mln
Safestay to capitalise on the transformation of London hostel market
Safestay chief executive Philip Houghton likens the transformation we are seeing today in branded hostels to the revolution witnessed in budget hospitality two decades ago.
Investments and investor services
FTSE 100 ends flat as housebuilders dominate news
UK stocks managed to pare most of its losses on the day...
Safestay agrees £15mln Edinburgh hostel deal
The hostel is being bought by way of a reverse takeover.
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