Founded by two friends in 2014, Selina is growing quickly across Central America, recently raising $95M from WeWork founder Adam Neumann and The Abraaj Group to expand into South America, the US and Europe. For more than a decade we developed, managed and sold successfully real estate projects along the pacific coast of Panama. We are all very happy entrepreneurs trying to build the right product for a new generation. Selina’s fundraising efforts began prior to the coronavirus outbreak, and Gery said the company will likely shift its financial goals in light of the economic disruption. Selina has counted Adam Neumann, the co-founder of co-working company WeWork, among its backers, and most of Selina’s 48 properties in Latin … In our Founder Spotlight series we ask founders from around the world how they got started and the challenges that come along with entrepreneurship. All this deeply connected with the communities around us, to keep ourselves grounded. Hotels have been hit especially hard as travel has been drastically reduced. The image that Selina cultivates recalls that of WeWork under the controversial Neumann, who touted the idea that it was more a state of being than an office-space company. The issue troubled stakeholders at properties such as the Lord & Taylor building in Manhattan as the company prepared to go public because executives holding roles in both buyer and tenant entities stood to benefit. The documents also anticipate the number of beds growing nine-fold over that time to 130,000 — which would make it one of the 10 largest hotel operators in the world. Selina hostels, the fast-growing hostel chain founded by Israeli businessmen, is opening a new location in Lima, Peru . Please Allow Javascript and reload this page. Selina, which operates more than 22,000 beds in 46 countries and recently started an expansion in the United States, has already pulled in $225 million in funding and counts WeWork founder Adam Neumann as a previous investor. Selina, one of the world’s fastest growing hospitality brands has announced UK expansion plans following an investment of £70 Million in Series B funding. We are having some technical difficulties. It’s a millennial’s dream: traveling the world while working, drinking, exploring and meeting like-minded nomads in chic hotels. We overcome this by working closely to the communities around Selina, making sure local people feel comfortable with us and that they feel part of Selina as much as Selina is part of them. From neoclassical to Victorian, the collage of architectural styles will take you on a tour through time and style. The Real Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry. I've been able to lead my career objective and growth within different roles inside the HR Division, from assistant to the learning and development department manager. Here you will feel at home, while meeting travellers from all around for the same great experience. Selina is a start-up and fast-growing company that offers a window to pitch new initiatives, to develop new processes. We have created a platform for travelers and locals where they can meet and share experiences, where they can connect to people all over the world and fulfill their needs to have a happy and meaningful life. Museri came up with the idea several years after he and his friend Daniel Rudasevski backpacked across Central and South America and launched a real estate firm, Dekel Holdings, to buy and redevelop properties in distressed neighborhoods in Panama. REAL NEWS, REAL DEALS DELIVERED DIRECTLY TO YOU. “It’s so different.”, Some investors in the hospitality sector, however, see red flags. “There’s a lot of smart investors who are investing with these guys, and that instills confidence in people like myself,” said Avra Jain, a Miami-based hotel owner who expects to open two Selina-occupied properties next month. For months its executives have been unable to persuade investors to commit to a $500 million real estate investment fund to buy U.S. properties. Selina hostels are always top notch, and this one was no exception. He is the founder and CEO of Selina, a rapidly growing, new generation of lifestyle hostels with 13 locations in Latin America. Selina is the newest hospitality company on my radar. “Now, we’re sitting on a very good strategy.” He said Selina has 12 properties “signed, opened or under development” in the country. We were looking for a place that could deliver a holistic experience with wide-ranging culture, opportunity to engage with new people and seamless workspace. Selina is the newest hospitality company on my radar. WeWork founder Adam Neumann invested tens of millions in traveling hospitality service Selina. Necessary cookies are absolutely essential for the website to function properly. Founded by two friends in 2014, Selina is growing quickly across Central America, recently raising $95M from WeWork founder Adam Neumann and The Abraaj Group to expand into South America, the US and Europe. These headwinds are particularly true of hospitality startups. Complete with high-speed WiFi and inspiring design, refresh your thinking and tap into a brand new level of productivity as you travel. All of our employees have the opportunity to go and work from any location in the world, we want to help them fulfill their dreams too. “The No. He is the founder and CEO of Selina, a rapidly growing, new generation of lifestyle hostels with 13 locations in Latin America. close a third of its 600 units and cut staff. With these commitments, Selina has said it can open another 77,000 beds. Selina is a hospitality network targeting young travelers with a holistic approach to the travel experience. Museri and business partner Daniel Rudasevski completed their market research for the Selina concept by sleeping in more than 120 hostels in locations around the … If I’m honest I don’t recommend any books to entrepreneurs, I encourage them to travel. The company recently opened a location in New Orleans and expects to open two others next month in Miami, owned by Jain’s Vagabond Group. Some would-be investors have balked at Selina’s pitch, which forecasts that revenue will explode from $70 million in 2019 to more than $2 billion in 2024. In This Episode, Rafi Reveals: But we consistently receive positive feedback about our brand, our model and our team.”. Wendy Silverstein, co-head of WeWork’s real-estate fund, is out, Big sale in Big Easy: Four Seasons penthouse breaks record, Trump’s people claim Geoff Palmer and Tom Barrack backed Zangrillo pardon, Hotel owners ask NY for break on tax penalties. In return Selina commits to leases of 20 to 40 years. (Colony and Access declined to comment, and Grupo Wiese could not be reached. Multiple Owners • Follow All Following All Unfollow All — — — January 30th, 2018. Selina and all that comes with it. The Vollman Group helps growth stage companies expand their operations internationally through strategy, marketing and consistent customer experience. The model is being replicated in other countries with 10 partners who have committed more than $450 million to buying and redeveloping property, according to the firm’s internal documents. The two Israelis figured they could do the same thing with distressed hotels by turning them into stylish hostels where people could rent desks — a working environment for thousands of travelers who pass through the region. Selina, one of the world’s fastest growing hospitality brands has announced UK expansion plans following an investment of £70 Million in Series B funding. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Selina co-founder and CEO, Rafael Museri, told Skift: "We provide an offering that's relevant to these customers who want a surprise in their experience. But even before the pandemic, raising money for growth-focused startups had become difficult. The landlord of its flagship location at the Hotel Americano in Chelsea is facing a foreclosure action by a lender after defaulting on loan payments. ... Avra Jain, a Miami developer and founder of Vagabond Group, is a local development partner of Selina. 1 need of this generation is to socialize”. Selina is one of the world’s fastest growing hospitality brands, combining beautifully-designed accommodation with coworking spaces, wellness, recreational offerings and local experiences for today’s nomadic traveler to live, work and explore anywhere in the world. “We are sort of betting on their success,” she said. Christine United States. If vacancy rates go up, the economy takes a downturn, that’s a risk level I don’t want”. Behind the idyllic hostels — now in more than 70 locations — is a novel business arrangement. So was the firm’s valuation of $1.8 billion, by one internal estimate, on forecasted $200 million revenue this year. “I see zero synergy,” Museri said of the two companies. Yoav Gery, Selina’s president, said its message has been well received. The investment, led by the Abraaj Group, with additional investments from Sir Ronald Cohen, founder of Apax, Gigi-Levi Weiss, and WeWork founder … His personal and successful business record has drawn a lot of successful business groups with great influences to invest in his company. Selina is not just a hospitality brand. At Selina we believe in social interaction, between fellow travelers, locals and staff, and exposure to new ideas, ways of life and experiences. We tap the local artists and workshops and let them create an aesthetic. For full functionality of this site it is necessary to enable JavaScript. Avra Jain, a Miami developer and founder of Vagabond Group, is a local development partner of Selina. But legally, contractually, functionally, operationally, [Dekel and Selina] are two separate entities.”. Gery also noted that Dekel’s real estate investments are dwarfed by those of WeWork, which paid, for example, $850 million for the Lord & Taylor building. Since then, Selina Hostels has wasted no time in ramping up their expansion across Latin America and even into the United States and Europe. “The No. This website uses cookies to improve your experience while you navigate through the website. Selina Miami River and Selina Miami Gold Dust will feature yoga rooms, a cinema and a library. Selina president Yoav Gery and co-founder Rafi Museri (Illustration by The Real Deal). “Some have chosen to invest and some have not. To test their idea for Selina — a unique stay, work and play community — Rafi and Daniel travelled the world over the space of one year, staying in more than 120 hotels, hostels and houses looking for a consistent offering that allowed them to meet new people, experience new cultures and seamlessly live and work anywhere. “Definitely the strategy of the U.S. … took me longer to understand,” Museri said. In Mexico, for example, DD3 Capital Partners has committed to providing over $150 million. WYSE Travel Confederation member, Selina, the youth hostel chain founded by Israelis Daniel Rudasevski and Rafi Museri, has signed a partnership with Ampa Real Estate to build hostels with 5,000 to 7,000 beds in Israe l over the coming five years.. Selina started out in Panama and has raised $91 million from investors so far. Selina La Fortuna is located in the center of town and is the perfect starting point for all your adventures. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. But the projections are largely contingent on the company succeeding in the U.S., where it has fallen well short of its goals. The first Selina was launched in Venao, a surf town on Panama’s Pacific coast, in 2014. “In the event that vacancy rates go up, the economy takes a downturn, that’s a risk level I don’t want to be exposed [to].”, The idea of Selina, Museri told Forbes two years ago, is embodied by a fictional 29-year-old woman from Latin America who travels the world and is “honest, humble, beautiful. He is head of research at Manhattan Venture Partners. This month, Lyric, an Airbnb-backed firm that offers apartments to business travelers, said it would close a third of its 600 units and cut staff. Defenitely the best Selina’s experience among others that I also visited during my trip in Colombia We also use third-party cookies that help us analyze and understand how you use this website. “That means the No. These cookies will be stored in your browser only with your consent. As our trip came to an end we understood that there wasn’t a place with all these and that’s how we decide to open Selina in small fisherman town in Panama called Playa Venao, Pedasi. Gery said the company is in talks with a lender to fund operational costs and expects to close on that convertible loan before the end of the month. If you are going to La Fortuna, try our Taxi-Boat fun and efficient alternative get from Monteverde to the northern region of Costa Rica. Selina is growing quickly in Central America, South America, North America and Europe. A lot of our employees are nomads that are traveling the world. Some headaches remain. Try again later. “They do this innovative hospitality approach,” Jain said. “I think they are doing it better than anybody.” She boiled down the company’s U.S. issues to the nuances of regulation and red tape. The company has 30 properties in South America and Central America. Named after a fictitious millennial character, Selina is a Latin American, nomad-focused brand, offering a combination of hostels, hotels, co-working spaces and restaurants. But after delays, lawsuits and permit issues, only two are operating here under the Selina flag. She hosts you, she hugs you. In March 2019 it announced a plan to open 15 by the end of the year. Selina is a Latin A m erican startup taking the hospitality market by storm. The president said Selina is talking to “multiple” potential partners for its $500 million U.S. real estate investment fund, but there is no timeline on when it will close. The idea behind Selina is not only to offer a beautifully designed place to stay, but also to connect with others. Tags: coworking, hostels, selina, sfe2019, startups Photo Credit: Selina co-founder and CEO Rafael Museri, shown here, is speaking at Skift Forum … Selina is suing the former owner of a Woodstock, N.Y., property over undisclosed permit issues that have prevented its hotel from being completed at the site. I wake up every morning with the thrill and commitment for what we are building with Selina, it’s a platform for this generation of travelers, this movement that’s growing, and the people that’s helping build this dream also inspires me because they care as much as I do about this project. Breathe life into your work from home routine and join digital nomads, creators, and entrepreneurs at Selina CoWork. “Selina is developing a global infrastructure for travellers who want to make the world their classroom, office and playground,” Rafael Museri, co-founder and CEO of Selina, said. Is that a good thing or a bad thing? The company is also in the process of securing a $60 million loan from the Inter-American Development Bank to fund growth projects in South America, he said. They key is communication, Selina is a really open work environment. It opens your mind to other cultures to new teachings that any entrepreneur can apply to their projects. And with coronavirus running amok, the firm’s reliance on an ability to keep expanding and raising more capital poses yet another hurdle. Latin American hostel and co-working company Selina Ltd. has reportedly raised $95 million from Israel-born WeWork founder Adam Neumann and Dubai-based investor the Abraaj Group. 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