Safestay moves into Europe with acquisition of U Hostels | thecaterer.com
Luxury hostel brand Safestay is to expand overseas following its acquisition of the U Hostels portfolio of three leasehold properties for €3m (£2.6m).
U Hostels comprises two sites in Madrid and one in Paris. The Madrid properties include a 226-bed luxury hostel with a 15-year lease and the adjacent apartment block made up of 14 one-bedroom and 20 two-bedroom apartments, which will open in 2018 following renovation.
