Safestay reveals plans to expand the number of travel hostels across Europe

The hostel operator Safestay plans to double its portfolio throughout Europe in the coming years, according to a report by ‘The Times’. Its president, Larry Lipman, states that the company “can easily double in the medium term, that is, in about three years.”

Currently managing 20 hostels throughout Europeincluding the United Kingdom, where it owns and is responsible for the property of five hostels. It also has a hostel on property in Italy and five in Spainwhile the rest are operated on a lease basis.

The company is already contacting potential hostel operators through an offer of franchise. According to Lipman: “They give us the opportunity to get other sites without needing large sums of money. If we move away from buying buildings, we can put more flags in the ground and get more income without needing capital.”

Although Europe remains the group’s “immediate playing field,” Lipman noted that “the growth in Asia and the potential in USA They don’t go unnoticed by us.”

He global hostel market this attracting more customersas budget-conscious travelers seek to explore different countries in a more sociable group environment than hotels. According to Safestay, the global hostel market will be worth approximately $12.1 billion (€11.6 billion) in 2033, according to the publication Hostel Market Outlook 2023 – 233, Future Market Insights.