28th Feb 2023 14:39
Safestay plc - city centre hostels operator - Says annual revenue in 2022 will come in ahead of market expectations at GBP19.0 million, multiplying from GBP6.4 million in 2021. Adjusted earnings before interest, tax, depreciation and amortisation are expected to be in line with market expectations at GBP5.9 million, swinging from a GBP1.0 million loss. Says business is "returning to normal" with guests being predominantly young travellers, as group bookings are seeing a slower recovery. Average bed rate increases to GBP23.70 from GBP19.70, which should be "sustainable", firm says. Read More
