Posted on: 07-January-2020
StayCity
After a strong performance in 2019, including record occupancies and a number of openings, Staycity is looking to expand further in 2020.
The partnership with Dunport gives Staycity a €22.5m (£19.2m) flexible loan facility with which to make new acquisitions.
Its 2019 figures include a turnover growth of 14% and an EBITDA increase of 11%. It also opened properties in Edinburgh, Venice and Paris, and has acquired properties in Berlin and Manchester.
Investments in the same year have facilitated the addition of 1,800 rooms over the next two years.
CFO Wayne Arthur commented: “The year was a challenging one, particularly in the UK where confidence has been fragile due to Brexit uncertainty.
