Eversheds Sutherland advised Safestay Plc on the transaction.
Safestay Plc, the owner and operator of an international brand of contemporary hostels, has acquired the freehold of ‘Hostel Pisa’ for €3.25 million.
The acquisition of the 161 bed Hostel Pisa is part of the Group’s strategy to establish a pan-European network of premium hostels, located in popular tourist cities. The addition of Hostel Pisa takes the portfolio to fourteen hostels and with the recent fund raising and pipeline of potential sites, the Company is well placed to reach its shorter-term target of owning and operating 20 hostels.
A very popular destination to visit in Italy’s famous region of Tuscany, Pisa attracts over one million visitors each year, all keen to see its famous architecture from the Cathedral of Santa Maria Assunta to the Leaning Tower of Pisa.
Hostel Pisa is located in the city centre, around the corner from Pisa train station and a 15 minute walk from the airport. Established in 2013, Hostel Pisa is a well maintained successful business with good quality bedrooms offering a contemporary hostel experience which fits neatly within the Safestay portfolio.
Eversheds Sutherland advised Safestay Plc on the deal with a team led by partners Riccardo Bianchini Riccardi (Picture) and Giulia Bramanti, assisted by Alessandro Monti and Carlo Macale.
Law Firms: Eversheds Sutherland;
Clients: Safestay Plc;