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LONDON - Safestay PLC (AIM:SSTY) has signed a 12-year lease agreement to operate a 300-bed hostel in central Naples, Italy, the company announced Monday in a press release. The property, housed in a former monastery, is scheduled to open in August 2025, pending final licensing requirements.
The hostel will be located in Naples’ Materdei district, 100 meters from the Materdei underground station. The renovated property will maintain historic features, including an entrance through a preserved chapel, while offering 300 beds across four and six-bed dormitories and private rooms.
The agreement marks the beginning of a strategic partnership with Italian property developer Ma Creo srl, with plans to open additional hostels across Italy. This will be Safestay’s second location in Italy.
"This site has great potential and will be a fantastic addition to our portfolio of premium, well-located hostels," said Larry Lipman, Chairman of Safestay, in the press release statement.
The Naples property will offer Safestay’s standard amenities including breakfast, all-day refreshments, a licensed bar, laundry facilities, and communal spaces.
Naples, the capital of the Campania region, attracts approximately 20 million annual visitors and provides access to popular destinations including Pompeii, Sorrento, Capri, and Mount Vesuvius (LON:VSVS).
Safestay currently operates 20 hostels and one hotel across Europe, with locations in the UK, Spain, Belgium, Czech Republic, Germany, Greece, Italy, Poland, Portugal, and Slovakia. The company reported a 10% increase in total bed nights to 931,688 in 2024.
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