(BOAS) – EXCLUSIVE: Selina Hits Record December Opening And Monthly Activity, Announces New Locations Ahead Of SPAC Merger

A hospitality model concentrating on millennials and Gen Z vacationers introduced fiscal 2021 outcomes,in addition to an replace on its rising portfolio of world properties.

Monetary Outcomes: Selina, which is merging with BOA Acquisition Corp (NYSE: BOAS), ended 2021 on a excessive be aware with December probably the most lively month in firm historical past. Consequently, Selina expects to exceed its fiscal 2021 forecasted goal of $93 million in income.

“Our sturdy efficiency in December is a testomony to the strategic location, design and activation of our properties, which enchantment to locals and home vacationers as a lot as international guests,” mentioned Selina Co-Founder and CEO Rafael Museri. “We consider this sturdy momentum will result in continued progress all through 2022.”

Properties Replace: Selina introduced a report month with six new locations opening and the delicate launch of six further areas.

“Collectively, these new areas add greater than 2,800 beds to Selina’s international community of accommodations for remote-workers and digital nomads and advance the model’s international growth, making its entrance into the brand new markets of Uruguay, Australia and Thailand,” the corporate mentioned.

The 12 new areas are made up of locations in Israel (4), Brazil (3) and one every in Panama, Argentina, Uruguay, Australia and Thailand.

With the brand new openings, Selina has 144 open or secured properties throughout six continents. Ninety of the properties are open and working.

Associated Hyperlink: Unique: How Selina Is Disrupting The Hospitality Business, Concentrating on Millenials + Gen Z And Rising With SPAC Deal

Why It’s Vital: Working with a singular enterprise mannequin and subscription service, Selina targets youthful vacationers. The corporate makes use of an asset-light mannequin and is concentrating on a $350 billion journey trade for millennials and Gen Z.

“They’re the Airbnb for millenials and Technology Z and Technology X,” BOA Acquisition CEO, Chairman and Founder Brian Friedman beforehand advised Benzinga.

Selina subscribers pays a flat price every month and have the power to maneuver round from metropolis to metropolis, see the world and work remotely. This offers annual recurring income for Selina and creates and inexpensive, accessible rental product for the on a regular basis man, in line with Friedman.

The corporate plans so as to add new merchandise that would embrace co-living and versatile journey choices.

© 2022 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.


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