Selina Advances Growth Strategy with Planned Expansion in Key Markets
Main Photo: The Selina Astoria, Oregon, USA
Date: August 2021
Name: Selina
Locations: Five new locations across the U.S., Mexico, Greece and Israel – Chicago, Washington D.C., Guadalajara, Jerusalem and Paros,
Number of Keys: 2,000 as below
Sellers: Various
Buyer: Selina, the fast-growing hospitality and experiential brand targeting millennial and Gen Z travellers, today announced plans to open five new properties in Chicago, Washington D.C., Guadalajara, Jerusalem and Paros, Greece by the end of the third quarter 2021.These new locations will add approximately 2,000 beds to Selina’s global network of living spaces for digital nomads and advance the company’s strategy to scale in large urban markets.
Selina’s experiential hospitality model has carved out a niche that focuses on hotel and co-working destinations that are developed specifically with millennial and Gen Z travelers in mind – a cohort that is estimated by Selina to spend approximately $350 billion per year on travel. The fast-growing hospitality brand offers this new generation of travelers a full-service experience and a variety of accommodations at an attractive price point, enabling them to discover the world, stay productive and build meaningful connections.
“Continuing to build our footprint in urban cities represents a compelling growth opportunity for Selina as the vast majority of hotels in these markets don’t address the wants and needs of our target audience,” said Rafael Museri, Selina’s Co-Founder and Chief Executive Officer.
“Moreover, we have continued to recover from the restrictions on travel that occurred during the pandemic. With younger travelers showing clear desire to see the world after being stuck at home for a year, and a rising number of under-utilised hotels globally, we recognize a clear opportunity to rapidly scale our offering. Opening these new locations will introduce Selina’s strong value proposition to thousands of potential customers and help grow our community of local talent and creators who spread our brand around the world.”
Selina’s new 600-bed Chicago property will be located at 100 E Chestnut Street, and it’s first Washington, D.C. property will be located in the revitalized Union Market district and feature 372 beds. The new 346-bed Guadalajara destination will be situated at Av. Chapultepec, and mark Selina’s 10th property in Mexico. With the opening of its 70-bed Jerusalem Mountains and 545-bed Paros properties, Selina will operate four destinations in Israel and three in Greece. These openings follow Selina’s successful entry into other major urban markets such as Miami, New York, London and Lisbon, where the brand continues to resonate with travellers.
Since its inception, Selina has steadily grown its footprint across North, Central and South America, Europe and Israel by delivering a community-based offering with flexible work, learn and stay solutions to an expanding class of digital nomads. It has accomplished this by leveraging proprietary technology to identify under-performing hotels and transforming them into cultural hubs through partnerships with local artists and food and beverage providers, as well as introducing programming that promotes social experiences. The company’s expansion to urban markets as an add-on to its offering of remote, off-the-grid locations represents its desire to provide a diverse array of accommodations worldwide, as well as its recognition that millennials and Gen Z travelers are looking for authenticity in their travel experiences – no matter where they go.
Founded in 2015, each Selina property is designed in partnership with local artists, creators and taste-makers, breathing new life into existing buildings in interesting locations around the world – from urban cities to remote beaches and jungles. Selina’s portfolio includes 116 open or secured properties across 20 countries.
THPT Comment: We have been following Selina for a while now, and great to see such ambitious plans….we wish them well
First Seen: Selina press release
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