Selina, a lifestyle and experiential hospitality brand targeting Millennial and Gen Z travelers, signed six new locations in Morocco, Portugal, the U.K. and Israel, and opened five new destinations in Israel, Australia and Brazil during the first quarter of 2022.
Collectively, these new signings and opened locations add to Selina’s expanding global network of hotels for remote workers and digital nomads, and mark the brand’s arrival into Morocco, where it expects to open two locations in the second quarter, the company reports. With these additions, Selina expands its portfolio to 150 open or secured properties across 25 countries and six continents. As of the first quarter, Selina marked an important milestone, with 100 open locations worldwide.
Selina leverages its proprietary technology to identify and renovate underperforming hotels in partnership with local real estate owners, who cover 90% of conversion costs, and artisans, who embed a local cultural influence, to create destinations that combine the comfort and style of a boutique hotel with coworking facilities and local social experiences, generally driving significant increases in revenue compared to a property’s prior operations, the company reports.
In the first quarter, Selina’s portfolio generated performance that exceeded management’s expectations, with year-over-year same-store occupancy growing by 70% to 55%. Annualized same-store revenue per bed space increased by more than 100% to approximately $7,800 on average during Q1 2022.
“We had a very busy and highly productive first quarter, building on the momentum of our strong 2021,” said Rafael Museri, cofounder/CEO, Selina. “During the quarter we advanced multiple important initiatives that are fueling growth and driving brand engagement. Our goal is to not only deliver strong financial performance, but generate meaningful and sustainable value by developing environments, experiences and outcomes that inspire brand ambassadors, friendships, stronger communities and a better world. The success we continue to enjoy on these fronts is a direct result of the time and effort we put into understanding our customers, team members and real-estate partners. We are building an enterprise that is entirely unique and look forward to capitalizing on the many opportunities we see ahead.”
The five newly opened properties:
- Selina Tel Aviv Beach, Israel (266 beds)
- Mantur Parod by Selina, Israel (108 beds)
- Selina Kinneret, Israel (294 beds) (pictured above)
- Selina St Kilda Melbourne, Australia (157 beds)
- Selina Buzios, Brazil (417 beds)