The expansion is part of a wider development pipeline to add over 4,000 ‘keys’ or rooms across Europe; includes projects in the UK, France, Germany, and Austria, where a property in Vienna opened under the Wilde brand in 2025, according to accounts just filed for Staycity Investments Holdings Ltd.
For the year ended December 31 2024, the group reported turnover of €243.56m and profit after tax of €29.65m.
That compared to turnover of €229.3m in 2023 and after tax profit that year of €32.8m. The drop in profit reflects restructuring and refinancing costs during the year, the accounts said.
During the year the group cancelled an undrawn €30m convertible loan note from the Ireland Strategic Investment Fund, reflecting confidence in its balance sheet and access to alternative financing.
The business paid a €25m shareholder dividend last year.
Staycity is best known to many people as sponsor of Dublin GAA, taking over the high profile slot from insurance giant AIG in 2023 in a high profile investment seen by many as a marker of its ambition to become a major brand.
The business was founded and is headquartered in Dublin.
Staycity founder and chief executive Tom Walsh, a Dubliner, started the company by letting a single apartment in Temple Bar in 2004, teaming up with brother Ger to create a website to drive bookings that were helped initially by the fact that the apartment in question had once been the studio where U2 recorded Desire.
Tom Walsh is Staycity’s biggest shareholder. The group now employs 1,360 including at its headquarters, close to Dublin Castle.
According to the company, it continues to rank among the top global hospitality brands, with approximately 2m guest reviews averaging 8.8 on Booking.com.
The accounts also record expense linked to refinancing and restructuring activities within the group.
The group increased its footprint further during the year through the acquisition of a majority stake in Felix Group.
The transaction brought two trading properties in Germany into the Staycity portfolio and added a development site in Vienna. These assets have since been incorporated into the company’s operations.
At the end of the financial period, Staycity operated 35 aparthotels in Ireland, the UK, France, Germany and Italy.
In total, the portfolio consisted of 5,798 rooms. All operating locations recorded profitability. The company also reported year-on-year increases in occupancy and average room rates.
Staycity’s model is centred on long-term operating leases in urban areas. The company continues to partner with property owners and developers to deliver new openings and support its room pipeline.
A majority of investments during the financial year related to the integration of new properties into the portfolio, refurbishing existing assets and preparing future developments.
Technology development continued throughout the year. Staycity progressed its in-house booking engine, first launched in December 2023, and expanded systems designed to support direct reservations and operational processes across site.
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