Bed bookings leap

BUDGET bed bookings helped Safestay toast soaring half-year sales.

The hostel operator, which rents beds to revellers for as little as £20 a night, saw sales jump 23pc to £4.1m in the six months to June 30.

Earnings jumped 62pc to £1.3m while losses narrowed to £400,00 from £600,000. Safestay has been expanding and bought properties in Barcelona, Lisbon and Prague from rival Equity Point in May.

The firm, which offers its service in prime UK locations, such as Holland Park in London and central Edinburgh, also acquired Spanish rival U Hostels for £2.6m in May.