Safestay Plc acquires the Hotel Auberge

  • Nov 15, 2019 GMT
  • Team Kalkine

  • Safestay Plc (SSTY) has acquired the Hotel Auberge in central Berlin, which will be operated under an eleven-year lease.
  • The acquisition worth consideration of €1.2 million is to be satisfied in cash from the Group's existing resources and is the fifth transaction the Group has made in the last 5 months.
  • Hotel Auberge presently operates as a 32-bedroom hotel and is best suited to being transformed into a modern 150 bed Safestay Hostel.

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