Safestay PLC Director Appointment (0059P)
June 03 2015 - 2:01AM
UK Regulatory
TIDMSSTY
RNS Number : 0059P
Safestay PLC
03 June 2015
3 June 2015
Safestay plc ("Safestay" or the "Company")
Director Appointment
Further to its announcement on 14 January 2015 that Philip
Houghton had been appointed as its Chief Executive, Safestay (AIM:
SSTY), the owner and operator of a luxury hostel brand, is pleased
to announce that Philip joins the Board with immediate effect.
Prior to joining Safestay, Philip was a founding Director of
Starboard Hotels, a private property and hospitality management
company, which owns and 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. He successfully led the business through its start-up
stage to an established and respected organisation within the
hospitality sector. 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, 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).
Larry Lipman, Chairman of Safestay, said: "I am delighted to
announce that Philip has joined the Board following his appointment
as Chief Executive in January. He has the ideal background and
combination of skills necessary to strengthen the Company and I am
looking forward to working with him in taking the Safestay brand to
the next stage of its development."
- ENDS -
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
Appendix - AIM Rule 17
Save for the information set out below, there are no further
disclosures to be made in accordance with Rule 17, Schedule Two (g)
of the AIM Rules for Companies in respect of the appointment of
Philip James Houghton, aged 47. Philip holds options over 132,000
ordinary shares of 1p each in Safestay.
Previous directorships
Current directorships within the last 5 years
Hoax Hostels Limited
(In Administration)(1) Evolution Liverpool LLP
Redwood Hospitality Starboard Key Homes Management
Limited Limited
Starboard Hotels Developments
LLP
Starboard Hotels Limited
Starboard Hotels One LLP
Starboard Hotels Two LLP
Starboard Hotels Three
LLP(2)
Starboard Hotels Four LLP
Starboard Hotels Five LLP
Starboard Hotels Six LLP(2)
Starboard Hotels Seven
LLP(2)
(1) Philip is a director of Hoax Hostels Limited (In
Administration) which was the operator of a hostel in Liverpool
until November 2014 when the lender to the owner of the property
from which the hostel operated called in its loan resulting in the
company going into administration. Mr Houghton understands that the
business has been sold and that the amount owing to unsecured
creditors is approximately GBP1.0 million.
(2) Each of these companies was dissolved via creditors'
voluntary winding-up whilst Philip was a director. In each case,
there was no deficit to creditors at dissolution.
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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