SSTY Safestay Plc

TIDMSSTY

RNS Number : 5429R

Safestay PLC

30 October 2019

30 October 2019

Safestay plc

("Safestay", the "Company" or the "Group")

Acquisition of Glasgow Hotel

Further to the announcement made on 18 September 2019, Safestay (AIM: SSTY), the owner and operator of an international brand of contemporary hostels, is pleased to announce that it has completed the acquisition of the 'Best Western Glasgow City Hotel', for GBP3.15 million.

Larry Lipman, Chairman of Safestay, said:

"Glasgow is a popular city and this site is therefore a strong addition to our portfolio, once the conversion is complete from 52 bed hotel to 200 bed hostel, we anticipate Safestay Glasgow will work extremely well for us alongside our 610 bed site in Edinburgh."

Enquiries

 
 Safestay plc                       +44 (0) 20 8815 1600 
 Larry Lipman 
 
 Canaccord Genuity Limited 
  (Nominated Adviser and Broker)    +44 (0) 20 7523 8000 
 Bobbie Hilliam 
 
 Novella                            +44 (0) 20 3151 7008 
 Tim Robertson 
 Fergus Young 
 
 

For more information visit our:

Website www.safestay.com

Vox Markets page https://www.voxmarkets.co.uk/company/SSTY/news/

Instagram page www.instagram.com/safestayhostels/

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