Safestay: ‘Strong progress’ as hostel group boosted by Gen Z travel Business Premium hostel group Safestay have significantly shrunk their pre-tax loss as they undergo a gradual post-pandemic recovery supported by investment in new sites and demand from younger travellers. The AIM-listed company reported revenue of £10.7m in the six months ended 30 June 2024, up by 6.6 per cent from £10m in 2023. It reported earnings [...]
Safestay: Hostel group continues European expansion with new Budapest property hospitality Hostel group Safestay has acquired a new property in Budapest as part of its continued expansion into mainland Europe. The London-listed company, which is headquartered in the city, said the five-storey site, located near the Danube River and Budapest’s shopping district, will allow it to add an additional 150 beds to its network, bringing its [...]
Safestay: More business travellers choosing hostels fails to boost chain’s profit HOSPITALITY Losses have continued to mount for hostel chain Safestay, despite the company saying it had seen an increased number of business travellers checking in to its properties.