Safestay (SSTY)

Sector:

Tourism and Leisure Services

Index:

FTSE AIM All-Share

 21.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 24.50
  • 52 Week Low: 15.50
  • Currency: UK Pounds
  • Shares Issued: 64.68m
  • Volume: 7,261
  • Market Cap: £13.58m
  • Beta: 0.32

Safestay sells smallest Barcelona hostel for EUR 0.9m

By Josh White

Date: Tuesday 02 Mar 2021

LONDON (ShareCast) - (Sharecast News) - Hostel operator Safestay announced the agreed sale of the smallest of its three hostels in Barcelona, 'Barcelona Sea', a leasehold site with 96 beds, to Beds and Foods Barcelona for €0.9m (£0.78m).
The AIM-traded firm said the sale price was also the book value of the hostel on its balance sheet.

It said the annual EBITDA of the hostel, before the Covid-19 pandemic and its impact on the travel sector, was €70,000.

The sale proceeds would be used to repay the majority of the final element of the acquisition consideration due to Equity Point Holding Empresarial totalling €1.18m, for the purchase in 2018 of the Barcelona hostel located in the avenue of Passeig de Grącia.

Safestay said that was a "much larger" hostel, offering 351 beds.

While Safestay's 17 hostels were still temporarily closed, since the timetable for exiting lockdown announced by the UK Government, it said it was able to begin planning for an orderly reopening of the portfolio in time for the summer season.

It said those plans were being made with the additional expectation that European governments would start to announce similar plans for coming out of lockdown.

"The sale of Barcelona Sea fits with our strategy of rationalisation of the portfolio as the business grows," said chairman Larry Lipman.

"It is particularly pleasing to conclude the sale during these difficult times.

"As we emerge from the Covid-19 lockdown, we shall continue to seek value added opportunities, whether through further disposals or acquisitions on the right terms."

At 0922 GMT, shares in Safestay were up 2.63% at 19.5p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Safestay Market Data

Currency UK Pounds
Share Price 21.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 24.50
52 Week Low 15.50
Volume 7,261
Shares Issued 64.68m
Market Cap £13.58m
Beta 0.32

Safestay Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
20.96% above the market average20.96% above the market average20.96% above the market average20.96% above the market average20.96% above the market average
75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% above the sector average
Price Trend
38.35% below the market average38.35% below the market average38.35% below the market average38.35% below the market average38.35% below the market average
11.11% above the sector average11.11% above the sector average11.11% above the sector average11.11% above the sector average11.11% above the sector average
Income Not Available
Growth
46.61% below the market average46.61% below the market average46.61% below the market average46.61% below the market average46.61% below the market average
15.15% below the sector average15.15% below the sector average15.15% below the sector average15.15% below the sector average15.15% below the sector average

Safestay Dividends

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

Trades for 07-Dec-2021

Time Volume / Share Price
15:31 7,261 @ 20.30p

Safestay Key Personnel

Chair Larry Glenn Lipman
COO Nuno Sacramento

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