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Safestay ( (GB:SSTY) ) has provided an announcement.
Safestay PLC has received planning approval to develop a new 170-bed hostel in Brighton, situated in a prime location opposite the Royal Pavilion. The project, which involves a £1.0 million investment for conversion, is expected to open in early 2026 and create approximately 20 new jobs. This expansion aligns with Safestay’s strategy to offer affordable accommodation in premium locations across Europe, capitalizing on Brighton’s popularity as a tourist destination. The new hostel is anticipated to significantly contribute to the local economy by attracting more visitors to the area.
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 projected to be worth $8.9 billion annually by 2027. The company has a portfolio of 19 premium hostels and one hotel, offering both private and shared rooms in major cities across the UK, Spain, Belgium, Czech Republic, Germany, Greece, Italy, Poland, Portugal, and Slovakia. Safestay aims to provide safe, inclusive, and enjoyable spaces for a diverse range of travelers, including digital nomads, backpackers, families, and groups.
YTD Price Performance: -16.00%
Average Trading Volume: 15,584
Technical Sentiment Signal: Strong Buy
Current Market Cap: £13.64M
See more data about SSTY stock on TipRanks’ Stock Analysis page.
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