Safestay plc (GB:SSTY) has released an update.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Safestay plc has expanded its portfolio by signing a 20-year management contract to operate the Calpe Seafront Hostel in Spain, marking the company’s first venture into management contracts. The hostel, which will undergo refurbishments funded by the landlord, is set to reopen in June 2024 and will join Safestay’s existing network, benefiting from the group’s economies of scale and marketing efforts. With this addition, Safestay anticipates re-establishing the hostel’s pre-pandemic success and exploring further asset-light opportunities.
For further insights into GB:SSTY stock, check out TipRanks’ Stock Analysis page.
