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An update from Safestay ( (GB:SSTY) ) is now available.
Safestay PLC has reported record revenues of £23.0m for the year ended December 31, 2024, indicating strategic and operational progress despite a challenging economic environment. The company increased its hostel portfolio with acquisitions in Brighton, Cordoba, and Budapest, and aims to double its size over the medium term. The occupancy rate rose to 75.2%, supported by effective marketing, and the company saw a 10% increase in bed nights sold. Although consumer confidence remains under pressure, Safestay is confident in its growth strategy and continues to explore expansion opportunities.
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 private and shared rooms across 20 locations in destination cities throughout the UK, Spain, Belgium, Czech Republic, Germany, Greece, Italy, Poland, Portugal, and Slovakia. Safestay aims to provide safe, inclusive, and enjoyable spaces for various types of travelers, including digital nomads, backpackers, families, and group travelers.
Average Trading Volume: 29,978
Technical Sentiment Signal: Strong Buy
Current Market Cap: £16.23M
For a thorough assessment of SSTY stock, go to TipRanks’ Stock Analysis page.