Safestay PLC Senior Management Appointment (0743C)
January 14 2015 - 2:00AM
UK Regulatory
TIDMSSTY
RNS Number : 0743C
Safestay PLC
14 January 2015
Safestay PLC
("Safestay" or "the Company")
Senior Management Appointment
Safestay (AIM: SSTY), the owner and operator of a luxury hostel
brand, is pleased to announce the appointment with immediate effect
of Philip Houghton as Chief Executive reporting to the Board of the
Company. Philip will focus on managing the Company's operating
hostels at Elephant & Castle, York and at Holland Park, which
is undergoing a comprehensive renovation and re-styling in line
with the "Safestay" brand.
Philip (aged 47) was until recently a founding director of
Starboard Hotels, a private property and hospitality company, which
operates hotels under franchise from both InterContinental Hotels
Group (IHG) and Wyndham Hotel Group (WYN), and specialises in hotel
and hostel development, ownership and operations. Previously,
Philip held various roles at Allied Brewers plc, Bass plc and at
Whitbread plc where he also consulted before taking on a similar
role at Dixons Retail plc. Philip is an Honours graduate of the
University of Strathclyde Business School, has an MBA and is Chair
of both STAYWYSE and WYSTC (associations charged with raising the
profile of the global youth accommodation and youth travel
sectors).
Commenting on his appointment, Philip Houghton said "The
backpacker hostel sector has many parallels with the hotel industry
some 20 years ago. Safestay is playing a key part in changing the
experience and perception of staying in a hostel making it a very
interesting time to be joining the Company. I believe that the
hostel sector can deliver excellent returns and I look forward to
leading the expansion of Safestay with Larry and the team".
For further information:
Safestay
Larry Lipman, Chairman Tel: 020 8815 1600
Colin Stone, Finance Director
Westhouse Securities (Nomad and Broker)
Tom Griffiths Tel: 020 7601 6100
David Coaten
Novella
Tim Robertson Tel: 020 3151 7008
Ben Heath
To access Corporate Images of Safestay
https://www.flickr.com/photos/128855901@N03/
About Safestay:
-- Safestay is a new brand of luxury hostel, designed to appeal
to a broad range of guests. Known as a "boutique hostel" within the
travel industry, it is aimed at providing safe, stylish
accommodation which offers a more attractive alternative to both
traditional hostels and budget hotel accommodation.
-- Established in April 2011 as a joint venture between the
Moorfield Funds and the Safeland Group, the Company then listed on
AIM in May 2014, to widen the shareholder base and raise new equity
to support the roll-out of the Safestay brand.
-- Today, the Group has three sites, two in London and one in
York. Following completion of current refurbishment, the Company
will have c.1,000 beds to offer to customers.
-- The Group wishes to expand the business by the acquisition
and development of further properties and create a branded hostel
group known for providing safe and stylish, but relatively
inexpensive accommodation.
-- The current hostel market is undergoing substantial change,
after years of little of no investment, the concept of staying in
clean, safe, stylish rooms for an average of approximately GBP20
per person per night has gained momentum and there is, in the
opinion of the Directors, the potential for significant growth and
sector consolidation.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUOABRVSAAAAR
Safestay (LSE:SSTY)
Historical Stock Chart
From Jul 2024 to Aug 2024
Safestay (LSE:SSTY)
Historical Stock Chart
From Aug 2023 to Aug 2024