MARKET REPORT: Boom in budget city breaks sees hostel firm Safestay's shares climb 6%



Booming demand for budget accommodation helped shares in hostel operator Safestay surge.
The firm saw its shares jump 6.4 per cent, or 3p, to 50p after posting a 43 per cent rise in group sales to £10.6 million in the year to the end of December. UK sales rose 15 per cent to £8.5 million.
Safestay claims to offer a ‘modern’ hostel experience and said its service has proven particularly popular with customers looking to spend a night in the city in a safe, clean and contemporary setting.
It owns hostels in prize locations like Holland Park and beds rent for as little as £20 a night.
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31 January 2018 in Business, Views: 45
Source: Daily Mail
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