Completion of Acquisition
30 October 2019
Safestay plc
("Safestay", the "Company" or the "Group")
Acquisition of Glasgow Hotel
Further to the announcement made on 18 September 2019, Safestay (AIM: SSTY), the owner and operator of an international brand of contemporary hostels, is pleased to announce that it has completed the acquisition of the 'Best Western Glasgow City Hotel', for £3.15 million.
Larry Lipman, Chairman of Safestay, said:
"Glasgow is a popular city and this site is therefore a strong addition to our portfolio, once the conversion is complete from 52 bed hotel to 200 bed hostel, we anticipate Safestay Glasgow will work extremely well for us alongside our 610 bed site in Edinburgh."
Enquiries
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Safestay plc |
+44 (0) 20 8815 1600 |
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Larry Lipman |
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Canaccord Genuity Limited |
+44 (0) 20 7523 8000 |
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Bobbie Hilliam |
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Novella |
+44 (0) 20 3151 7008 |
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Tim Robertson |
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Fergus Young |
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For more information visit our:
Website www.safestay.com
Vox Markets page https://www.voxmarkets.co.uk/company/SSTY/news/
Instagram page www.instagram.com/safestayhostels/
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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