Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
The latest announcement is out from Safestay ( (GB:SSTY) ).
Safestay PLC has signed a 12-year lease agreement to operate a 300-bed hostel in Naples, Italy, marking the start of a strategic partnership with Italian property developer Ma Creo srl. This move is part of Safestay’s capital-light expansion strategy in Italy, aiming to open additional high-quality, community-focused hostels across the country. The new hostel, located in a former monastery in Naples’ Materdei district, is set to open in August 2025, enhancing Safestay’s portfolio with its historic charm and strategic location. This expansion is expected to strengthen Safestay’s position in the European hostel market and contribute to urban regeneration efforts in Naples.
More about Safestay
Safestay PLC is one of Europe’s largest hostel groups, operating in the fragmented and fast-growing global hostel market. The company offers a portfolio of 20 premium hostels and one hotel, providing both private and shared rooms across various European cities. Safestay focuses on creating safe, inclusive, and enjoyable spaces for diverse travelers, including digital nomads, backpackers, families, and group travelers.
Average Trading Volume: 28,511
Technical Sentiment Signal: Strong Buy
Current Market Cap: £15.91M
See more data about SSTY stock on TipRanks’ Stock Analysis page.