Safestay has acquired a second Barcelona hostel from Equity Point Hostels for €2.0m in cash. On 31 May 2017, Safestay announced it had agreed to acquire three hostels from Equity Point located in Lisbon, Prague and Barcelona. The acquisition of this second hostel in Barcelona, known as Barcelona Gothic, from Equity Point will mean the Group now has 11 hostels within the portfolio.
Earlier this year, Safestay also acquired three properties from U Hostels — two in Madrid and one in Paris. After the sale, Safestay said the purchase was a first step in establishing a pan-European network of hostels.
Source: Stockmarket Wire, July 2017