Safestay boss says terror and Brexit have "no impact" on hostel business


Safestay has grown to cover 11 sites (Source: Safestay)

The boss of Aim-listed travel chain Safestay has said the impact of terrorism on his business has been "nothing", as the UK's hospitality industry continues to thrive.

Larry Lipman, founder of Safestore lockers and now Safestay hostels, told City A.M. he had not seen a downturn in bookings after recent terror attacks in London and Barcelona, where the brand has sites.

"It's definitely a concern sadly for all of us who live in these countries, we've become blase and a little bit fatalistic, you might be in the wrong place at the wrong time," he said. "In terms of impact on the business, it has been nothing. Post the last attacks, we haven't seen any impact. All of us have become resilient."

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He added that he did not think Brexit was likely to impact either Safestay or the UK's tourism industry.

"Every customer we're looking to attract is coming as a tourist, and tourists are not really interested in Brexit," he said. "It won't impact tourism into the UK. We've still got Buckingham Palace and Leicester Square and all that."

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His comments came ahead of Safestay's interim results today, which are expected to show steady growth after the company acquired seven new sites during the first half of the year, bringing the total to 11.

Lipman said the business would now target further expansion in Europe, with areas accessible to Shoreditch and Camden top of his hit list in London.