On track to end the quarter with the best revenue month in company history
Opens five properties in Israel, Australia and Brazil and signs six new locations in Morocco, Portugal, the United Kingdom and Israel
70% increase in same-store occupancy and 100%+ increase in total revenue per bed exceeded management’s expectations
Selina, the fast-growing lifestyle and experiential hospitality brand targeting Millennial and Gen Z travelers, announced today that it celebrated the signing of six new locations in Morocco, Portugal, the United Kingdom and Israel as well as the opening of five new destinations in Israel, Australia and Brazil during the first quarter of 2022. These new properties advance the Company’s mission to redefine the future of travel by creating destination experiences that strongly resonate with consumers.
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. 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 vibrant, unique, and authentic atmospheres that Selina destinations cultivate allow travelers to build meaningful connections, and 66% of guests, on average, report meeting a new friend during their stay.
In the first quarter, Selina’s portfolio generated impressive 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 over 100% to approximately $7,800 on average during Q1 2022.
Rafael Museri, Selina’s Co-Founder and Chief Executive Officer, said, “We had a very busy and highly productive first quarter, building on the momentum of our strong 2021. 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 include:
- Selina Tel Aviv Beach, Israel (266 beds): Escape to golden sands, turquoise waters and a vibrant atmosphere at Selina Tel Aviv Beach. Located near the dazzling Mediterranean coastline, embrace the art, culture and unique heritage surrounding the hotel. Just footsteps from the promenade and beach, guests can join the hordes of runners working up a sweat, sunbathe or tackle waves while kitesurfing and windsurfing. Discover the city's origins in Old Jaffa, just a 14-minute walk from the hotel, or explore the hipster Florentine neighborhood. With a myriad of world-renowned restaurants and bars, Rothschild Boulevard is a short walk away, and the starting point to an unforgettable night out. Along with beautifully designed rooms, other on-site features include a rooftop bar and restaurant, a cafe, a wellness area, a coworking space, a shared kitchen, a grab-n-go market and a retail shop.
- Mantur Parod by Selina, Israel (108 beds): Located on a kibbutz in the heart of Galilee’s rolling hills, experience the magic of Selina Parod. Surrounded by sweeping vistas of Northern Israel and natural lemon, olive and oak trees, this is the perfect destination for those who seek to reconnect with nature. Discover the best hiking trails, including the trek from Mount Meron to the Biriya Forest, watch the production of olive oil at the Kibbutz Parod Visitor Center or take a 22-minute drive and learn about the area's biblical history and antiquities at the ancient Kfar Baram synagogue. On-site features at the hotel include a retreat and wellness center, a restaurant serving up local produce, a coffee shop, fast WiFi and comfortable outdoor seating areas where guests can listen to live music under the stars.
- Selina Kinneret, Israel (294 beds): Sitting on the spectacular shores of the Sea of Galilee, guests can surround themselves with music, wellness and history at Selina Kinneret. Relax and unwind in magnificent nature with panoramic views of the lake and listen to the peaceful sounds of fresh water, or indulge in rejuvenating treatments at the Tiberias Hot Springs, just a 15-minute drive away. For guests who want to explore the area’s poignant religious history, the holy sites of Christianity are just a 10-minute drive from Selina. In addition to the custom-designed accommodations, other on-site features include a swimming pool, a wellness area, a restaurant and bar, a beachfront, a music studio, an activity center, complimentary WiFi, a coworking space and a movie room.
- Selina St Kilda Melbourne, Australia (157 beds): Located in the heart of St Kilda, this location sits in prime position on Melbourne’s stylish seaside retreat. Just footsteps from an eclectic dining scene and boho boutiques, guests can walk around the waterfront or head to the beach and experience the constant buzz of activity. Explore the great outdoors at the nearby Royal Botanic Gardens or Albert Park, watch the swans and rowers glide across the lake, or browse hand-crafted treasures at St Kilda’s famous Sunday markets. Guests can also enjoy the thrills of Luna Park, a heritage-listed theme park and a must-visit local icon, or visit the adorable penguins at the end of St Kilda Pier. Along with a range of beautifully-designed accommodation, other hotel features include a HOWM restaurant, a rooftop bar, a wellness deck, a cinema room, a common kitchen, complimentary WiFi, and a coworking space.
- Selina Buzios, Brazil (417 beds): Surrounded by pristine beaches, tropical rolling hills and charming buildings, Selina Buzios is a gateway to experiencing the best of this coastal paradise. Guests can spend their days surfing at Geriba beach, snorkeling through vibrant marine life and turquoise bays or diving at João Fernandes Beach. To get a break from the beach, guests can take a stroll down the European-inspired Rua das Pedra – just minutes away – which is lined with designer shops, quaint cafes and trendy nightclubs. Complementing the well-appointed rooms, on-site features include a swimming pool and bar, a restaurant, wellness activities, a peaceful garden area, a vintage-inspired auditorium, a coworking space, a retail store and a grab-n-go shop.
About Selina
Selina is one of the world's largest hospitality brands built to address the needs of Millennial and Gen Z travelers, blending beautifully designed accommodation with coworking, recreation, wellness, and local experiences. Custom-built for today's nomadic traveler, Selina provides guests with a global infrastructure to seamlessly travel and work abroad. Founded in 2014, each Selina property is designed in partnership with local artists, creators, and tastemakers, breathing new life into existing buildings in interesting locations around the world – from urban cities to remote beaches and jungles. Selina's portfolio includes 150 open or secured properties across 25 countries across six continents. On December 2, 2021, Selina entered into a business combination agreement with BOA Acquisition Corp. (NYSE: BOAS) (“BOA”) that will result in Selina becoming a publicly listed company on the New York Stock Exchange under the new ticker symbol “SLNA,” subject to the satisfaction of standard closing conditions. For further information on Selina, visit www.selina.com or check out @selina on Instagram or Facebook.
About BOA Acquisition Corp.
BOA Acquisition Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. While BOA may pursue an initial business combination target in any business or industry, it intends to focus its search on businesses that provide technological solutions and innovation to the broader real estate industry.
Additional Information and Where to Find It
This document does not contain all the information that should be considered concerning the proposed business combination between BOA and Selina (the “Business Combination”). In connection with the proposed Business Combination, Selina intends to file with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement on Form F-4 (the “Registration Statement”), which will include a preliminary proxy statement of BOA and a prospectus. The definitive proxy statement and other relevant documents will be mailed to stockholders of BOA as of a record date to be established for voting on the Business Combination. Stockholders of BOA and other interested persons are advised to read, when available, the preliminary proxy statement and amendments thereto, and the definitive proxy statement because these documents will contain important information about BOA, Selina, and the proposed transactions. Stockholders will also be able to obtain copies of the Registration Statement and the proxy statement/prospectus once they are available, without charge, by directing a request to: BOA Acquisition Corp., 2600 Virginia Ave NW, Suite T23 Management Office, Washington, D.C. 20037. These documents, once available, and BOA’s other filings and reports filed with the SEC can also be obtained, without charge, at the SEC’s internet site (http://www.sec.gov).
INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
No Offer or Solicitation
This communication is for informational purpose only and not a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
Participants in Solicitation
BOA, Selina, and their respective directors and executive officers, other members of management and employees may be considered participants in the solicitation of proxies with respect to the potential transaction described in this communication under the rules of the SEC. Information about the directors and executive officers of BOA is set forth in BOA’s filings with the SEC. Information regarding other persons who may, under the rules of the SEC, be deemed participants in the solicitation of the stockholders in connection with the potential transaction and a description of their direct and indirect interests will be set forth in the Registration Statement (and will be included in the proxy statement/prospectus) and other relevant documents when they are filed with the SEC. These documents can be obtained free of charge from the sources indicated above.
Forward-Looking Statements
This communication includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events, including, without limitation, statements regarding the Business Combination and expectations or plans of Selina’s management. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential,” or “continue,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties (some of which are beyond the control of Selina), and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Selina and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, without limitation: (1) the occurrence of any event, change, or other circumstances that could give rise to the termination of the definitive agreements respecting the Business Combination; (2) the outcome of any legal proceedings that may be instituted against BOA, Selina, or others following the announcement of the Business Combination; (3) the inability to complete the Business Combination due to the failure to obtain approval of the stockholders of BOA or to satisfy other conditions to closing; (4) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations; (5) the ability of Selina to meet applicable listing standards following the consummation of the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations of Selina as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers, and retain its management and key employees; (8) costs related to the Business Combination; (9) changes in applicable laws or regulations; (10) the possibility that Selina may be adversely affected by other economic, business, and/or competitive factors; (11) the impact of the COVID-19 pandemic on Selina’s business and/or the ability of the parties to complete the Business Combination; and (12) other risks and uncertainties to be contained in the proxy statement/prospectus filed after the date hereof. In addition, there may be additional risks that Selina does not presently know, or that Selina currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as may be required by law, Selina does not undertake any duty to update these forward-looking statements.
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