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Safestay ( (GB:SSTY) ) has provided an update.
Safestay PLC has reported a 2% increase in revenue to a record £23 million for the year ending December 2024, despite facing cost-of-living pressures among its core young traveler demographic. The company also successfully refinanced its debt with HSBC and added four new properties to its portfolio, which now includes 20 sites. Forward bookings have increased by 27%, demonstrating strong strategic progress and reinforcing confidence in the company’s ambitious growth plans. Safestay aims to double its portfolio size in the medium term, continuing to invest in property refurbishments and exploring expansion opportunities through acquisitions and partnerships.
More about Safestay
Safestay PLC is one of Europe’s largest hostel groups, operating in the fragmented and fast-growing global hostel market, which is expected to reach an annual worth of $8.9 billion by 2027. The company offers a range of accommodation options including both private and shared rooms across several European countries, with a focus on providing safe and enjoyable spaces for a diverse set of travelers.
YTD Price Performance: -6.00%
Average Trading Volume: 12,041
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £15.26M
For an in-depth examination of SSTY stock, go to TipRanks’ Stock Analysis page.
