Safestay Names Davide Caschili as COO as Peter Zielke Prepares to Exit Board in August 2026

Peter Zielke's Three-Year Leadership and Operational Impact at Safestay

Peter Zielke’s departure marks the end of a significant three-year period during which he contributed as both Director and Chief Operating Officer at Safestay plc. His tenure was marked by critical operational milestones, including launching Safestay’s inaugural franchise operations and establishing the operational centre of excellence in Warsaw. These initiatives have been pivotal in advancing Safestay’s position as a pan-European hostel operator.

The leadership transition has been carefully orchestrated to maintain operational stability. Zielke stepped down from his COO responsibilities on 10 June 2026, coinciding with Davide Caschili’s appointment, but remained on the Board to facilitate a smooth handover. This phased approach supports knowledge transfer and ongoing operational consistency. After the AGM, Zielke will continue to contribute as a consultant, underscoring the Board’s commitment to preserving continuity on key operational issues.

Davide Caschili Assumes Chief Operating Officer Role Effective June 2026

Davide Caschili joined Safestay’s Board as Chief Operating Officer on 10 June 2026, succeeding Peter Zielke. This appointment was announced on 11 May 2026, providing shareholders with ample notice of the leadership change. Caschili’s onboarding period was designed to enable thorough integration and knowledge transfer ahead of Zielke’s Board departure at the AGM.

By commencing his COO duties in June, Caschili gained valuable time to familiarize himself with Safestay’s operations before Zielke’s exit from the Board on 12 August 2026. This structured transition aligns with Safestay’s strategic calendar and ensures operational continuity while new leadership assumes full responsibility.

Franchise Expansion and Warsaw Operational Centre Highlights

Safestay’s growth strategy has included launching its first franchise operations, a key development expanding beyond directly managed properties. Franchise locations include Kitzbühel, Austria (Alpine and Centre properties), and Edinburgh Cowgate in the UK. This franchise model supports capital-efficient expansion, enabling Safestay to broaden its brand footprint without full ownership costs.

The Warsaw operational centre of excellence, established under Zielke’s leadership, plays a vital role in standardizing and enhancing operational practices across Safestay’s extensive European portfolio. Spanning ten countries—including the UK, Spain, Belgium, Czech Republic, Greece, Italy, Poland, Portugal, Austria, and Slovakia—this central hub leverages Central European expertise to coordinate operations across diverse markets and regulatory environments.

Safestay’s Pan-European Portfolio of 21 Premium Properties

Safestay operates a diversified portfolio comprising 20 premium hostels and one hotel across ten European countries, making it one of Europe’s largest hostel groups. Key locations include London (Elephant & Castle and Kensington Holland Park), Edinburgh, Brighton, and York in the UK; Barcelona (three sites including Gothic Quarter and Passeig de Gracia), Madrid, Córdoba, and Calpe (in development) in Spain; Prague in the Czech Republic; Athens in Greece; Naples and Pisa in Italy; Lisbon in Portugal; Brussels in Belgium; Bratislava in Slovakia; Vienna in Austria; and Warsaw in Poland. Each site is strategically chosen for prime positioning to attract a wide range of travelers from digital nomads to families.

The portfolio reflects a strategic focus on high-quality locations within historic city centres and commercial hubs, offering guests convenient access to cultural attractions and transport. The mix of wholly owned and franchised properties supports geographic diversification and exposure to varying tourism trends and economic conditions across Europe.

Global Hostel Market Growth and Industry Drivers

Safestay operates within a rapidly expanding segment of the global hospitality industry. The global hostel market was valued at approximately US$6.53 billion in 2026, with projections estimating growth to US$15.25 billion by 2034, according to The Market Data Forecast (2025). This growth is driven by rising demand for affordable accommodation, the increase in digital nomadism, and evolving travel preferences among younger demographics.

Key market drivers include a shift toward experiential and community-focused travel, increased international tourism, and the normalization of flexible work arrangements that extend travel durations. The hostel sector’s growth outpaces traditional hotels, positioning Safestay to benefit from increased occupancy and pricing opportunities across its diverse European portfolio.

Annual General Meeting Scheduled for 12 August 2026 at Safestay London Elephant & Castle

Safestay has issued the Notice of Annual General Meeting to shareholders, scheduled for 12 August 2026 at 9.00am. The AGM will be held at Safestay London Elephant & Castle, 144-152 Walworth Road, London, SE17 1JL, one of the Company’s flagship UK properties. This venue offers shareholders a direct connection to the Company’s operational environment.

Shareholders are encouraged to vote by proxy, including electronically appointing the Chairman of the Meeting as their proxy. Detailed proxy voting instructions are included in the Notice of AGM, which is accessible on the Company’s investor relations website at https://www.safestay.com/investors/. The AGM will formally address Peter Zielke’s retirement and other shareholder business.

Chairman Larry Lipman Praises Peter Zielke’s Contributions and Future Role

Larry Lipman, Chairman of Safestay, expressed appreciation for Peter Zielke’s service: "On behalf of the Board, I thank Peter for his dedication and significant contributions over the past three years. He was instrumental in launching our first franchise operations and developing our operational centre of excellence in Warsaw. We are pleased he will continue supporting the business in a consultancy role after the AGM."

This statement highlights the Board’s recognition of Zielke’s strategic impact and confirms his ongoing advisory involvement, reinforcing Safestay’s focus on operational excellence and geographic expansion.

Governance and Succession Planning Framework for Leadership Transition

Safestay’s management of the directorate change exemplifies a robust corporate governance and succession planning process. The May 11, 2026 announcement of Caschili’s appointment, followed by his June 10 assumption of COO duties, established a clear transition timeline. Zielke remained on the Board during this period to ensure knowledge transfer and operational continuity, departing only at the AGM on August 12, 2026.

This approach minimizes disruption and preserves institutional knowledge, with Zielke’s consultancy role further bridging leadership regimes. For investors, this planned succession process demonstrates Safestay’s commitment to disciplined management transitions and strategic stability.

Investor Insights and Engagement with Safestay

Investors will closely monitor Safestay’s performance following the COO transition, evaluating strategic continuity and operational momentum under Davide Caschili. The transition from a leader who established franchise operations and the Warsaw centre marks a key milestone for assessing management effectiveness.

Safestay’s investor relations site at https://www.safestay.com/investors/ provides comprehensive resources on strategy, financials, and governance. The Company’s social media presence, including Instagram at www.instagram.com/safestayhostels/, offers additional engagement channels. Investors should track regulatory announcements, interim and annual results, and operational metrics such as occupancy rates and development progress to gauge execution under new leadership.