RNS Reach

Safestay PLC

("Safestay" or the "Company")

Safestay selects tech leader Cloudbeds as part of its "Platform for Growth" strategy

The strategic partnership empowers Safestay properties to enhance guest experience and drive operational excellence with innovative technology

London, 27 January 2025 - Safestay PLC, (AIM: SSTY), one of Europe's largest hostel groups, is pleased to announce its partnership with Cloudbeds, the industry's premier hospitality management platform.

As part of the multi-year partnership, Safestay is moving its 20-strong Europe-wide hostel portfolio onto the Cloudbeds Enterprise Platform, building its technology stack on Cloudbeds' award-winning property management system ("PMS"). The move is part of Safestay's 'Platform for Growth' strategy through which it is investing for future success.

The Cloudbeds Enterprise Platform provides a centralised multi-property PMS for managing all Safestay's owned, leased, managed, and franchised properties. Cloudbeds' innovative unified technology will provide the Company with a single comprehensive view of customer data across all properties and booking platforms, enabling Safestay to provide a superior modern guest experience, enhance its commercial and marketing strategy, and streamline operational costs across its growing portfolio.

The move to Cloudbeds will:

·     Maximise revenues through use of AI-driven yield and pricing software;

·  Drive further financial efficiencies for the Company through securing more favourable payment commission rates;

·   Further enhance Safestay's impressive direct booking strategy by optimising the customer booking process across all direct booking channels, including Safestay's website, and providing enhanced functionality for Safestay's Group Reservation Office;

·     Enhance the experience from booking to departure both for guests and staff through the monitoring of customer preferences and the provision of a customer-centric web app;

·    Enhance customer communication through the provision of a multilingual AI-driven chat & messaging customer service; and

·     Enhance Safestay's membership programme by providing tailored offers and individualised marketing messages to members in line with their preferences.

The launch of Safestay's partnership with Cloudbeds is the latest step in the Company's investment in guest experience and operational excellence as it looks to expand further across Europe. It follows other operational and digital investments, including the integration of a new customer management tool and the implementation of mobile check-in and mobile keys.

Larry Lipman, Chairman of Safestay, commented: "We're excited to be working with Cloudbeds to implement this important platform into our business, which will not only drive financial and operational efficiencies, but also ensure that we are continuing to deliver the very best-in-class experience for our guests.

As Safestay continues to expand across key destination cities across Europe, this initiative, in line with our broader 'Platform for Growth' strategy, positions Safestay well for future success."

"We're looking forward to supporting Safestay's strategic vision as they position themselves for significant growth," said Adam Harris, CEO of Cloudbeds. "The Cloudbeds Enterprise Platform is purpose-built to support dynamic, multi-property hospitality groups like Safestay, providing them with powerful technology combined with world-class 24/7 support, from implementation and training through day-to-day operations. Our partnership represents a pivotal moment in hostel technology, where innovation meets scalable growth."

ENDS

Enquiries

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  3,580 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.

The company's strong growth momentum continues and during 2024 has announced the acquisition of a freehold hotel property in Brighton and a hotel in central Cordoba, Spain, with the intention of converting these into a 220-bed hostel and 100-bed hostel respectively, as well as the signing of its first management contract for a 120-bed hostel on Spain's Costa Blanca.

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

About Cloudbeds

Cloudbeds is the leading platform redefining the concept of PMS for the hospitality industry, serving tens of thousands of properties in more than 150 countries worldwide. Built from the ground up to be masterfully unified and scalable, the award-winning Cloudbeds Platform brings together built-in and integrated solutions that modernize hotel operations, distribution, guest experience, and data & analytics.

Founded in 2012, Cloudbeds has been named a top PMS, Hotel Management System and Channel Manager (2021-2024) by Hotel Tech Report, World's Best Hotel PMS Solutions Provider (2022) by World Travel Awards, and recognized in Deloitte's Technology Fast 500 in 2023.