RNS Number : 9567M
Safestay PLC
16 June 2025
16th June 2025
Safestay PLC
("Safestay", the "Company" or the "Group")
Successful £1.4 million Covid-19-related insurance claim
Safestay PLC (AIM: SSTY), one of Europe's largest hostel groups, is pleased to announce that it has been awarded a business interruption insurance claim totalling £1.4 million (net of associated professional fees). The claim relates to the business interruption experienced by the Group during the Covid-19 pandemic.
Payment of the claim will be received by the Group within the next 21 days and will be recognised as a post-balance sheet event in Safestay's forthcoming 2024 financial results, which the Group plans to release later this month.
ENDS
Enquiries
Safestay PLC Larry Lipman
Tel: +44 (0) 20 8815 1600
Shore Capital (Nomad & Broker) Tom Griffiths/Harry Davies-Ball
Tel: +44 (0) 20 7408 4090
Hudson Sandler (Financial PR) Alex Brennan/India Laidlaw
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/
About Safestay PLC
Safestay PLC is one of Europe's largest hostel groups, operating in the fragmented and fast-growing global hostel market that is expected to be worth $8.9bn annually by 2027*.
Safestay's portfolio of 19 premium hostels and one hotel offer guests both private and shared rooms in destination cities across the UK, Spain, Belgium, Czech Republic, Germany, Greece, Italy, Poland, Portugal, and Slovakia.
The Group currently offers 3,750 beds across its locations and sold 848,633 bed nights in 2023, a 17% increase against the prior year.
Safestay's mission at each of its locations is to provide a safe, inclusive, and enjoyable space that caters to the needs of different travellers. Its properties offer first-class locations and thoughtful designs that cater for the different needs of travellers, from digital nomads to backpackers and from families to group travellers.
https://www.safestay.com/
*Source - Markets and Research, August 2022
Safestay's pan-European locations include:
· Athens Monastiraki, Greece
· Barcelona Gothic, Spain
· Barcelona Passeig de Gracia, Spain
· Berlin Kurfurstendamm, Germany (hotel)
· Bratislava Presidential Palace, Slovakia
· Brighton, UK (in development)
· Brussels Grand Place, Belgium
· Budapest, Hungary (in development)
· Calpe Seafront, Spain (in development)
· Córdoba Mezquita Catedral, Spain
· Glasgow Charing Cross, UK
· Edinburgh Cowgate, UK
· London Elephant & Castle, UK
· London Kensington Holland Park, UK
· Lisbon Bairro Alto, Portugal
· Madrid Central, Spain
· Pisa Centrale, Italy
· Prague Charles Bridge, Czeck Republic
· Warsaw Old Town, Poland
· York Micklegate, UK
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