Safestay, a leading European hostel operator, unveils ambitious plans to double its portfolio across Europe within the next three years, marking a significant shift in the budget accommodation sector.
Strategic Growth plans will expand Safestay’s current network of 20 hostels through an innovative franchise model. As Indexbox reported, chairman Larry Lipman emphasizes the company’s ability to “easily double over the medium term,” focusing on sustainable expansion across the UK, Spain, and Italy.
The Franchise Approach represents a departure from traditional expansion methods. Travel and Tour World reports that rather than purchasing properties outright, Safestay will partner with local operators through franchise agreements, reducing capital requirements while accelerating growth.
Recent Developments showcase the company’s momentum:
- New 120-bed Safestay Calpe Seafront opening in Spain
- Edinburgh Cowgate location launching as 18th European property
- 150-bed Budapest property near the Danube River
- Conversion of former university building in Brighton to 220-bed hostel
Market Timing aligns with significant industry growth, as the global hostel market is projected to reach $12.1 billion by 2033. This expansion caters to increasing demand for budget-friendly, socially oriented travel accommodations.
Future Vision extends beyond Europe, with Lipman acknowledging potential opportunities in Asia and the United States, though European markets remain the immediate focus.
This strategic expansion positions Safestay to capitalize on the growing trend of budget-conscious travelers seeking affordable, community-oriented accommodations in prime urban locations.
