Safestay enters strategic tech partnership with Cloudbeds
By Josh White
Date: Monday 27 Jan 2025
(Sharecast News) - Safestay announced a strategic partnership with hospitality management platform Cloudbeds on Monday, as part of its 'platform for growth' strategy aimed at enhancing guest experience and driving operational efficiency.
The AIM-traded hostel and hotel operator said the partnership would see Safestay migrate its 20 hostels across Europe onto the Cloudbeds enterprise platform, leveraging the technology to support its expansion plans and improve operational capabilities.
It said the Cloudbeds platform would provide Safestay with a centralised property management system, offering a comprehensive view of customer data across all properties and booking platforms.
The integration was expected to enhance the guest experience, optimise Safestay's commercial and marketing strategy, and drive cost efficiencies across its portfolio.
It said the transition to Cloudbeds' technology was expected to maximise revenue through AI-driven yield and pricing software, while also improving financial efficiency by securing more favourable payment commission rates.
Safestay said it was aiming to enhance its direct booking strategy by streamlining the customer booking process across all channels, including its website, and introducing advanced functionality for its group reservation office.
The partnership would also improve the guest experience through personalised communications and a customer-centric web app that monitored preferences from booking to departure.
Further benefits of the Cloudbeds platform included the introduction of a multilingual AI-driven chat and messaging service to enhance customer communication, the board noted, as well as the strengthening of Safestay's membership programme with tailored offers and personalised marketing messages based on customer preferences.
The company said the initiative followed a series of digital and operational investments, including the implementation of a new customer management tool, mobile check-in, and mobile key functionality, as it continued to focus on growth and enhancing its service offering across Europe.
"We're excited to be working with Cloudbeds to implement this important platform into our business, which will not only drive financial and operational efficiencies, but also ensure that we are continuing to deliver the very best-in-class experience for our guests," said Safestay chairman Larry Lipman.
"As Safestay continues to expand across key destination cities across Europe, this initiative, in line with our broader 'platform for growth' strategy, positions Safestay well for future success."
At 1437 GMT, shares in Safestay were up 2.13% at 24p.
Reporting by Josh White for Sharecast.com.
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