Try again later. A lot of our employees are nomads that are traveling the world. Since the implosion of WeWork last fall, investors, bankers and even consumers have become wary of engaging with firms perceived to be like it. Israeli-natives Daniel Rudasevski, 35, and Rafael Museri, 40, launched the company in 2015 —after months staying at hostels around the world—with the opening of the first Selina in a small fishing town in Panama. (Colony and Access declined to comment, and Grupo Wiese could not be reached. More will come. This category only includes cookies that ensures basic functionalities and security features of the website. 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. “That means the No. His personal and successful business record has drawn a lot of successful business groups with great influences to invest in his company. 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. This is the new way, the Selina way. That’s what Selina is selling. 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. If vacancy rates go up, the economy takes a downturn, that’s a risk level I don’t want”. 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. Behind the idyllic hostels — now in more than 70 locations — is a novel business arrangement. Selina is a Latin A m erican startup taking the hospitality market by storm. But we consistently receive positive feedback”. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Selina is the newest hospitality company on my radar. Even Airbnb, the darling of hospitality startups with a $31 billion valuation, is facing an uncertain future after posting losses ahead of a planned public offering this year. 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. In return Selina commits to leases of 20 to 40 years. Their Selina Gives Back program commits 2% of labor time to volunteer activities including teaching English and improving local infrastructure. Necessary cookies are absolutely essential for the website to function properly. At Selina we believe in social interaction, between fellow travelers, locals and staff, and exposure to new ideas, ways of life and experiences. Backed by high-profile investors including WeWork co-founder Adam Neumann, the London-based startup operates dozens of hostels with co-working space in vacation spots across the globe. And with coronavirus running amok, the firm’s reliance on an ability to keep expanding and raising more capital poses yet another hurdle. 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. With many affordable dormitory options and an area for pitching tents, this hostel welcomes adventure travelers on a budget. 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. Avra Jain, a Miami developer and founder of Vagabond Group, is a local development partner of Selina. As I said before, we were building something new, there’s a lot of things we wish we knew before starting our company but something really valuable that has helped us shape the company today is that we are not afraid to fail, just follow your gut and even though the path will be sometimes uncertain, bumpy and you will fall sometimes (or many) those failures are what help you understand what works or not for your business. Since then, Selina Hostels has wasted no time in ramping up their expansion across Latin America and even into the United States and Europe. Round-up of top news and topics for each of the following cities: Editorially-curated headlines and news to know for the following areas: The numbers behind office leases, retail, sales and financing. From humble beginnings back in 2003, Hatters Hostels has grown in this short time to include four city centre located properties based in Liverpool, Manchester and Birmingham. He is the founder and CEO of Selina, a rapidly growing, new generation of lifestyle hostels with 13 locations in Latin America. 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. “We wanted to make sure they’re completely separated in terms of conflict rules,” Gery said. 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. I think we have many initial hurdles that we accomplish to overcome like cultural change, try to define who we are. His personal and successful business record has drawn a lot of successful business groups with great influences to invest in his company. WeWork founder Adam Neumann invested tens of millions in traveling hospitality service Selina. Such arrangements have raised eyebrows at other firms, including WeWork, which used its real estate investment fund, ARK, to buy properties that would be leased to WeWork. The idea behind Selina is not only to offer a beautifully designed place to stay, but also to connect with others. ... Avra Jain, a Miami developer and founder of Vagabond Group, is a local development partner of Selina. From neoclassical to Victorian, the collage of architectural styles will take you on a tour through time and style. He said the hotel is slated to open in July. 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 is community, is family, disruptive, environmentally conscious. We tap the local artists and workshops and let them create an aesthetic. Selina is a WYSE Travel Confederation member which operates hostels that combine accommodation, co-working space, tours, wellness and fitness classes, and more. He did not respond to requests for comment. The parallels may explain why Neumann, who was ousted from WeWork last summer, personally invested millions of dollars in Selina. 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. The investment, led by the Abraaj Group, with additional investments from Sir Ronald Cohen, founder of Apax, Gigi-Levi Weiss, and WeWork founder … It currently has 70 locations in 20 different countries. Headquartered in Panama City, Selina seeks to disrupt the hostel hospitality industry in these regions by providing a high-end hostel experience at locations which … REAL NEWS, REAL DEALS DELIVERED DIRECTLY TO YOU. A major pillar of Selina’s growth strategy has been opening hotels in the United States. We live the nomadic lifestyle and promote it. But we consistently receive positive feedback about our brand, our model and our team.”. 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. Selina is not just a hospitality brand. Hostel brand Selina will open two locations in Miami. — Rafi Museri, Selina co-founder and CEO. “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. “Definitely the strategy of the U.S. … took me longer to understand,” Museri said. Tags: coworking, hostels, selina, sfe2019, startups Photo Credit: Selina co-founder and CEO Rafael Museri, shown here, is speaking at Skift Forum Europe on 30 April 2019. In Mexico, for example, DD3 Capital Partners has committed to providing over $150 million. Selina president Yoav Gery and co-founder Rafi Museri (Illustration by The Real Deal). “Now, we’re sitting on a very good strategy.” He said Selina has 12 properties “signed, opened or under development” in the country. Oyo, an online hotel listings platform that has raised $3 billion, mostly from SoftBank Group, has let 5,000 employees go and pulled out of multiple cities. Tags: coworking, hostels, selina, sfe2019, startups Photo Credit: Selina co-founder and CEO Rafael Museri, shown here, is speaking at Skift Forum … It has expanded to include 25 locations in cities, towns or … The company has 30 properties in South America and Central America. But after delays, lawsuits and permit issues, only two are operating here under the Selina flag. Gery set about fundraising, and secured early investors, including Adam Neumann, who was building his own real estate leasing empire at WeWork. The investment, led by the Abraaj Group, with additional investments from Sir Ronald Cohen, founder of Apax, Gigi-Levi Weiss, and WeWork founder … The Real Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry. Selina identifies distressed properties, then finds a regional partner to buy them and shoulder redevelopment costs. We're always looking for unique voices with a global perspective to contribute to our blog. You also have the option to opt-out of these cookies. >>Selina, a hospitality ... Selina debuted a subscription product to encourage remote workers to hopscotch its hostels and hotels in multiple countries. Here you will feel at home, while meeting travellers from all around for the same great experience. Selina is the newest hospitality company on my radar. And now the coronavirus pandemic has crippled the hospitality industry. Stay in our private rooms, suites, and more. We are all very happy entrepreneurs trying to build the right product for a new generation. 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. We work closely with clients to determine international readiness, build actionable strategies and utilize our global network to ensure a successful launch. Travel is an important part of my personal and professional life and I’m increasingly interested in companies that make it easier to tap into local communities when you travel. We were building something new, we wanted to get the community involved and for them to be excited that we were coming to town. 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. After opening a third location, the two men were introduced to Gery, who previously held executive roles at Marriott International and Morgans Hotel Group. Selina La Fortuna is located in the center of town and is the perfect starting point for all your adventures. Selina hostels are always top notch, and this one was no exception. Selina Hostels, founded in 2012, is the first chain of "luxury hostels" in South and Central America. This month we’re talking to Rafi Museri, the Founder of Selina. This website uses cookies to improve your experience while you navigate through the website. All rights reserved © 2021 The Real Deal is a registered Trademark of Korangy Publishing Inc. Selina is a hospitality network targeting young travelers with a holistic approach to the travel experience. But opting out of some of these cookies may have an effect on your browsing experience. 1 goal of this company is to connect people.”, The message has attracted a broad audience, raising $345 million from big-name investors including Tom Barrack’s Colony Latam Partners, billionaire Len Blavatnik’s Access Industries and Peruvian conglomerate Grupo Wiese. Once the model was proven to be a success in Venao, the expansion began. You can book a shuttle at the reception. Selina - Great hostels for backpackers. 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 and all that comes with it. 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. With these commitments, Selina has said it can open another 77,000 beds. “Some have chosen to invest and some have not. 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. 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. 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 … The Vollman Group helps growth stage companies expand their operations internationally through strategy, marketing and consistent customer experience. Is that a good thing or a bad thing? A Selina hotel in Miami’s Little Havana was supposed to open in September 2018 but still hasn’t. Today we can say that we have more than 25 locations in more than 7 countries and this year we open in Europe and North America. 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 one of the only hostel chains in Latin America offering guests luxurious, yet budget-friendly sleeping rooms and coworking spaces for workers on the go. 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. 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. American multinational Access Industries led a US$100m investment in Panama’s Selina, a global network of hostels and co-working spaces, at a post-money valuation of US$850m.CVC Grupo Wiese contributed US$15m.Existing investor Colony Latam Partners (formerly Abraaj Group LatAm) also participated in the round. Selina, a hostel and co-working company that counts WeWork’s founder Adam Neumann among its investors, is opening its first New York City location. Defenitely the best Selina’s experience among others that I also visited during my trip in Colombia But after a bungled launch in the United States, Selina’s millennial fantasy is colliding with financial reality. But even before the pandemic, raising money for growth-focused startups had become difficult. Selina is a start-up and fast-growing company that offers a window to pitch new initiatives, to develop new processes. Earlier this year, Selina Hostels raised a whopping $95 million in investment capital from the Abraaj Group and Israeli-born founder of WeWork Adam Neumann. There are so many valuable lessons from traveling, from solving problems, to think outside the box. These cookies will be stored in your browser only with your consent. Selina is a start-up and fast-growing company that offers a window to pitch new initiatives, to develop new processes. Multiple Owners • Follow All Following All Unfollow All — — — January 30th, 2018. In March 2019 it announced a plan to open 15 by the end of the year. We also use third-party cookies that help us analyze and understand how you use this website. 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. Selina Hostels. “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. This is how the first Selina was born in Venao, a surf town near Pedasí in 2014. “We’ve met, and continue to meet with, many potential investors around the world,” he said. We are having some technical difficulties. A family owned operation, the first and most well known Hatters was founded at Newton Street in the hip and trendy Northern Quarter of Manchester’s city centre. But the projections are largely contingent on the company succeeding in the U.S., where it has fallen well short of its goals. In our Founder Spotlight series we ask founders from around the world how they got started and the challenges that come along with entrepreneurship. “Whenever someone tries to grow, grow, grow and then they have to raise money for operations — how can you sustain growth without capital?” said one person familiar with Selina’s business. 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. Complete with high-speed WiFi and inspiring design, refresh your thinking and tap into a brand new level of productivity as you travel. He is head of research at Manhattan Venture Partners. These cookies do not store any personal information. 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. Museri dismissed the similarities as a “coincidence” and noted that Selina is a hospitality company that invests in distressed assets, while WeWork leases premium office space. They have everything you need, including a big kitchen, a small cafe, a bar, a theater, and a fantastic location. But even before the pandemic, raising money for growth-focused startups had become difficult. With a design-centric, technology-first and socially-minded approach to travel, In This Episode, Rafi Reveals: Selina Camden is part of the brand’s £80 million expansion across Europe, and will be its fifth British launch. It’s a millennial’s dream: traveling the world while working, drinking, exploring and meeting like-minded nomads in chic hotels. “They do this innovative hospitality approach,” Jain said. “The underlying issues have nothing to do with Selina or its operation of the property,” said Gery, the president. It is not meant to be a round trip, although it is possible to arrange a one-day round trip option. 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. Browser only with your consent hostel chain founded by Israeli businessmen, is family, disruptive, environmentally conscious different. Deal ) the latest selina hostels founder, fresh headlines, marketing and consistent customer experience success... Company that offers a window to pitch new initiatives, to think outside the box a round,! Think we have many initial hurdles that we accomplish to overcome like cultural,! To travel our founder Spotlight series we ask founders from around the world they. 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