Staycity negotiates rent freezes with landlords

George Sell George Sell Uploaded 26 March 2020

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Ireland: Staycity, which operates aparthotels across Europe, has negotiated rent freezes where possible its with landlords.

The company, which closed all its properties to new bookings on March 12th, operates nearly 3,000 units across 12 European cities.

CEO Tom Walsh said: "We are maintaining ample liquidity and as soon as this crisis is over and business starts to pick up again, which we are certain it will, we will return to normal business. We have an excellent, fully transparent relationship with our landlords, who are strongly supportive of our business and as such we have been in close communication with them since the start of the Covid-19 outbreak and as soon as it became obvious that the impact on the hospitality sector would be very severe.”

It has initially closed bookings until Aril 30th. In a statement the company said: "This situation will remain under review, and we will continue to provide regular updates. We plan on re-opening our aparthotels once it’s safe to do so, and all the team at Staycity look forward to welcoming our guests back as soon as possible. Until then, stay safe."

For more information about renegotiating leases with landlords, click here.

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