Safestay PLC Publication of Report & Accounts (9244L)

TIDMSSTY

RNS Number : 9244L

Safestay PLC

05 May 2015

Safestay PLC

("Safestay" or "the Company")

Publication of Report & Accounts

Safestay (AIM: SSTY), the owner and operator of a luxury hostel brand, announces that its report & accounts for the period ended 31 December 2014 have been sent to shareholders and copies are available on the Company's website, www.safestay.co.uk.

The Company's Annual General Meeting will be held at 10.00am on 2 June 2015 at Safestay Elephant & Castle, 144 - 152 Walworth Road, London SE17 1JL.

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

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 European roll-out of the Safestay brand.

-- Today, the Group operates from three sites 2 in London and 1 in York and once refurbishments are complete will have c.1000 beds.

-- 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 GBP20 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

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