New hostel in Budapest: Safestay continues its expansion in Europe

Safestay, a London-based hostel group, is currently strengthening its presence in Europe. Recently, it acquired a Budapest property that is full of potential. The hostel in Budapest will be located in a lively area with the Danube just a stone’s throw away.

New hostel in Budapest

As VG writes, Safestay, a London-based hostel group, has expanded its presence in Europe by acquiring a new hostel in Budapest. The five-storey property, situated near the Danube and the lively party district, will add 150 beds to Safestay’s portfolio, which now totals 3,580 beds across 18 locations. The company has signed a five-year lease with Curzon Capital Partners, with the option to extend for an additional decade, reflecting its commitment to strengthening its footprint in Eastern Europe. This investment is expected to generate EUR 350,000 in revenue during its first year of operation.

Photo: depositphotos.com

Premium accommodation

As City AM has also reported, the purchase of the Budapest hostel follows Safestay’s recent acquisition of a former university building in Brighton, which will be converted into a 220-room hostel. Safestay’s chairman, Larry Lipman, expressed enthusiasm about the Budapest acquisition, noting the property’s excellent potential and prime location. He believes that, following refurbishment, it will be a standout addition to Safestay’s network of premium hostels.

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Featured image: depositphotos.com