Covid-19-related insurance claim
Safestay receives £1.4 million insurance settlement for Covid-19 business interruption claim.
- Covid-19 insurance claim awarded £1.4 million
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Safestay PLC (AIM: SSTY), one of Europe's largest hostel groups, is pleased to announce that it has been awarded a business interruption insurance claim totalling £1.4 million (net of associated professional fees). The claim relates to the business interruption experienced by the Group during the Covid-19 pandemic.
Payment of the claim will be received by the Group within the next 21 days and will be recognised as a post-balance sheet event in Safestay's forthcoming 2024 financial results, which the Group plans to release later this month.
*Source - Markets and Research, August 2022
Safestay's pan-European locations include:
- Athens Monastiraki, Greece
- Barcelona Gothic, Spain
- Barcelona Passeig de Gracia, Spain
- Berlin Kurfurstendamm, Germany (hotel)
- Bratislava Presidential Palace, Slovakia
- Brighton, UK (in development)
- Brussels Grand Place, Belgium
- Budapest, Hungary (in development)
- Calpe Seafront, Spain (in development)
- Córdoba Mezquita Catedral, Spain
- Glasgow Charing Cross, UK
- Edinburgh Cowgate, UK
- London Elephant & Castle, UK
- London Kensington Holland Park, UK
- Lisbon Bairro Alto, Portugal
- Madrid Central, Spain
- Pisa Centrale, Italy
- Prague Charles Bridge, Czeck Republic
- Warsaw Old Town, Poland
- York Micklegate, UK
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.