15th Feb 2016 09:01
LONDON (Alliance News) - Safestay PLC on Monday said it expects to report full-year results that are in line with expectations after substantially growing its portfolio in 2015.
The hostel operator said 2015 was "successful" after it increased the number of beds within its hostel portfolio to 1,500 at the end of the year from only 560 a year earlier, with the current capacity to offer over 500,000 bed nights per year.
"Demand from the traditional customer base of young travellers and school/college groups was good, augmented by growing interest from new hostel customers, such as business travellers and young families," said Safestay.
"2015 was a successful and very active year which saw the company more than double in size. We are very focused on continuing to improve the performance of our four existing sites whilst looking for new sites in the UK and Europe," Chairman Larry Lipman added.
Safestay shares were down 0.9% to 56.00 pence per share on Monday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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