8 November 2022

Safestay plc

("Safestay", the "Company" or the "Group")

Directorate Change

Safestay (AIM: SSTY), the owner and operator of an international brand of contemporary hostels, is pleased to announce the appointment of Peter Zielke to the Board as Chief Operating Officer. The appointment will commence on 1 February 2023 following completion of a notice period.

Peter, aged 53, is a German national with UK residency, has extensive leisure sector experience having primarily worked in hotel management for over 25 years. Currently, he is Director of Operations for Kew Green Hotels and responsible for managing 14 UK-based hotels operated under franchise agreements with IHG and Marriott International. In this role, Peter has over 400 employees under him and 5 Area General Managers and General Managers. He has responsibility for managing all aspects of the hotels' performance and operational compliance. Over his career Peter has worked in a number of countries, opening new hotels, developing new teams and business strategies. Peter is Chairman of the Gatwick Hotels Association.

Peter does not hold any other directorships, and holds no ordinary shares or options in the Company.

There is no other information that is required to be disclosed pursuant to Schedule 2 paragraph (g) or Rule 17 of the AIM Rules for Companies.

Larry Lipman, Chairman of Safestay, said, "We are delighted to have secured Peter as our new COO. His global experience operating in multiple markets is a strong fit with our own portfolio. He will no doubt bring new perspectives to our business at a time when we are re-emerging from the pandemic period and looking to build back stronger. As a team, we are very much looking forward to working alongside him."

Peter Zielke, said, "I am very excited to be joining Safestay. The pandemic has had a significant impact on our sector, which for operators like Safestay is also bringing new opportunities for growth, I am looking forward to pursuing these as well as focusing on further developing Safestay as a leading premium hostel brand."

Enquiries:

Safestay plc                                                                            Tel: +44 (0) 20 8815 1600

Larry Lipman

Liberum (Nomad & Joint Broker)                                     Tel: +44 (0) 20 3100 2000

Andrew Godber / Edward Thomas / Miquela Bezuidenhoudt

Novella                                                                                    Tel: +44 (0) 20 3151 7008

Tim Robertson / Safia Colebrook