The accommodation network of General Staff graduates and fishermen on their way to Wall Street

by time news

Selena, founded by Rafi Musari and Daniel Rudovsky, veterans of the General Staff Reconnaissance and Sheldag units, on their way to Wall Street at a value of $ 1.2 billion. The plan is to merge with the BOA Acquisition Corp. Gigi Levy, Shaul Shani and Adam Neumann The merged company will operate under the name Selina Hospitality, and its shares will be listed on the New York Stock Exchange under the symbol “SLNA”.

The network is not afraid of the spock method that has not worked for many companies, and claims that many companies that were not willing to reach the public market chose it. They estimate that Selena is a company with a strong global brand and high revenue, and that the Spock method is a legitimate and good product on the way to the American market.

The network, which is active in 23 countries across 4 continents, is both engaged in hosting and offers a variety of content to its customers. The company explains that a large part of the income, which is estimated at at least $ 100 million a year, comes from the “community” and not from rooms. The company believes that making it public will allow it to grow and expand to more destinations and reach new audiences. The company operates in major cities such as Tel Aviv and New York, but also in countries such as Morocco and the South American continent. The company also estimates that it will enter other countries in the Middle East, as well as in Australia and Thailand.

Every Selena in the world has a “democratization of the world of rooms.” There are both dormitories and private rooms, at different price levels. The network employs close to 250 people in Israel and estimates that they will grow to at least 400 by the end of next year. The center is in Israel and they claim it will stay here. Executive offices are divided between Israel, London and New York. If that is not enough, the chain plans to establish 12 new cellars in Israel in the coming year alone. From the Arava, through the center of Tel Aviv to the Golan. The company recently signed an agreement with the Hajaj Group, which is its senior partner in Israel.

Promised $ 350 million in capital raising

Selena has already secured $ 350 million in capital raising to expand its offering in 12 geographical areas, which the company says is expected to add about 40,000 new beds to the chain by 2025. In addition to a pay-per-trip offer, Selena has introduced an innovative subscription service – Nomad Passport – allows guests to stay in any location of Selena for as long as they want, with full services that include accommodation, shared work, health activities and events gathered at the place.

Selena emphasizes that her lifestyle brand was developed especially for backpackers and tourists of the millennial generation and the Z generation. This is a group that Selena estimates spends about $ 350 billion a year on travel.

According to the company, its fast-growing accommodation brand, which now includes 35,000 open or guaranteed beds in 23 countries, offers this young generation of travelers a full service experience with a variety of accommodations at attractive price points. According to the company, it expects to present its first positive operating income (EBITDA) in the first quarter of 2023, and to reach some annual revenue of $ 1.2 billion in 2025 through the opening of new sites, operational improvements and the consolidation of its asset portfolio.

Selena notes that its operating model is based on a partnership with real estate owners, who pay an average of 90% of the cost of converting their properties to “locally inspired vibrant destinations from Selena brands.” The financial profile of properties has made it the preferred brand partner for local real estate owners who understand and want to serve the expanding status of millennials and Generation Z tourists. This approach allows Selena to lead to a significant increase in revenue compared to previous property activity. ”

According to CEO Rafi Musari, “Millennials and Generation Z travelers are looking for 5 first-class authenticity and experiences at every stage – they want to be immersed in the local culture of every place they visit. By collaborating with local artists to design culturally relevant and inspiring goals, we create opportunities for them to make lifelong connections within the rapidly expanding Selena community. We have spent the last six years building and expanding an efficient and distinct platform, and this deal will allow us to bring Selena to more locations and travelers around the world. “

Musari added, “We are experiencing greater demand than we experienced before the Corona, and the new properties we offer testify to how well the Selena brand resonates with our target customers. Despite the challenges the epidemic has posed on global travel, our portfolio exceeds our long-term goals, and we are excited Towards the next steps in the development of our company as a lifestyle brand and operator of a leading hotel. “

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