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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Media: ICR for Selina Selina@icrinc.com
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