IR Global Real Estate members help provide gateway across Europe for premium hostel brand
“IR Global member firm for real estate in Spain performed work for the Safestay group. Safestay Group is a leading player in the premium hostels market. They provide a consistently high-quality product and standard of service, while still preserving the ethos and
the character of individual hostels.
As Safestay had expansion plans on mainland Europe in 2018 and more particularly in Brussels, mmmm introduced IR Global member Lieven Peeters of ALTIUS to Safestay. Safestay wanted to ensure the acquisition of its first hostel in Belgium within a tight timeframe.
ALTIUS assisted Safestay with the following services:
• Full legal due diligence of a target company operating a hotel in Brussels;
• Setting up an acquisition structure to acquire the Belgian target company;
• Negotiation and contractual documentation in order to acquire the ongoing hotel operation;
• Advise on the changes Safestay wants to carry out in order to rebrand the hotel in a Safestay hostel, including permit issues, hotel classification, fire safety, lease rights.
In November 2018 Safestay successfully acquired the Belgian hotel company and Safestay Brussels is already open and operational. Safestay has expansion plans into key European gateway cities in 2019.”
Contributing Advisors
