Safestay (SSTY)

Sector:

Tourism and Leisure Services

Index:

FTSE AIM All-Share

 19.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 29.60
  • 52 Week Low: 18.19
  • Currency: UK Pounds
  • Shares Issued: 64.94m
  • Volume: 7,282
  • Market Cap: £12.34m

Safestay acquires eighth European property for €1.6m

By Iain Gilbert

Date: Thursday 11 Oct 2018

LONDON (ShareCast) - (Sharecast News) - Hostel operator Safestay has acquired the Hotel Opera in central Brussels, its eighth European property, for a total of €1.6m.
Locate on Rue Grétry just off Brussel's Grand Place, the 50-bedroom property is an independently run hotel that has operated for over 30 years.

Safestay will make a cash payment of €1.4m from its existing cash resources, in addition to assuming the hotel's €200,000 of debt, before beginning the property's conversion into a Safestay hostel.

The AIM-listed outfit expects the site to be rebranded and converted into a 200-bed hostel "relatively quickly" at a cost of roughly €200,000.

Safestay chairman Larry Lipman said: "Hotel Opera has been a good hotel but we believe we can make it into an excellent hostel. The building and the central location combine to make it ideal to attract some of the tens of thousands of visitors who come to Brussels each month."

"Given that it is an operating hotel, conversion will be quick and many of the existing operating team will continue under the Safestay brand. We expect the transaction to be immediately earnings enhancing."

As of 0900 BST, Safestay shares had dipped 1.78% to 38.60p.

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Safestay Market Data

Currency UK Pounds
Share Price 19.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 29.60
52 Week Low 18.19
Volume 7,282
Shares Issued 64.94m
Market Cap £12.34m

Safestay Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
20.77% above the market average20.77% above the market average20.77% above the market average20.77% above the market average20.77% above the market average
62.50% above the sector average62.50% above the sector average62.50% above the sector average62.50% above the sector average62.50% above the sector average
Price Trend
11.43% below the market average11.43% below the market average11.43% below the market average11.43% below the market average11.43% below the market average
27.27% below the sector average27.27% below the sector average27.27% below the sector average27.27% below the sector average27.27% below the sector average
Income Not Available
Growth
58.89% above the market average58.89% above the market average58.89% above the market average58.89% above the market average58.89% above the market average
57.69% above the sector average57.69% above the sector average57.69% above the sector average57.69% above the sector average57.69% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Safestay Dividends

  Latest Previous
  Final
Ex-Div 14-May-15
Paid 26-Jun-15
Amount 0.30p

Trades for 28-Mar-2024

Time Volume / Share Price
15:19 4,048 @ 18.21p
10:43 3,234 @ 18.19p

Safestay Key Personnel

Chair Larry Glenn Lipman
CFO Paul Hingston

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