selina hostels founder

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. Christine United States. 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. We also use third-party cookies that help us analyze and understand how you use this website. You want to be with her.”. 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. By clicking Subscribe you agree to our Privacy Policy. “I see zero synergy,” Museri said of the two companies. In our Founder Spotlight series we ask founders from around the world how they got started and the challenges that come along with entrepreneurship. Selina Miami River and Selina Miami Gold Dust will feature yoga rooms, a cinema and a library. 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 … It’s a millennial’s dream: traveling the world while working, drinking, exploring and meeting like-minded nomads in chic hotels. At Selina we believe in social interaction, between fellow travelers, locals and staff, and exposure to new ideas, ways of life and experiences. If vacancy rates go up, the economy takes a downturn, that’s a risk level I don’t want”. We select only the most incredible places across Latin America, North 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. 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. The former Tower Hotel in Miami’s Little Havana (Credit: Barlington Group). Selina is a WYSE Travel Confederation member which operates hostels that combine accommodation, co-working space, tours, wellness and fitness classes, and more. Selina - Great hostels for backpackers. 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. 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. Selina is a kind of ramped-up hostel but still does serve different price from a common hostel … WeWork founder Adam Neumann invested tens of millions in traveling hospitality service Selina. 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. We are all very happy entrepreneurs trying to build the right product for a new generation. He said the hotel is slated to open in July. Necessary cookies are absolutely essential for the website to function properly. But even before the pandemic, raising money for growth-focused startups had become difficult. 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. 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. Some headaches remain. This is the new way, the Selina way. 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're always looking for unique voices with a global perspective to contribute to our blog. That’s what Selina is selling. Selina is community, is family, disruptive, environmentally conscious. 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. Enjoy discovering the best places in Latin America with Selina. 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. “The underlying issues have nothing to do with Selina or its operation of the property,” said Gery, the president. We are having some technical difficulties. Stay in our private rooms, suites, and more. His personal and successful business record has drawn a lot of successful business groups with great influences to invest in his company. 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. 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. 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. “That means the No. 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. 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. For full functionality of this site it is necessary to enable JavaScript. The investment, led by the Abraaj Group, with additional investments from Sir Ronald Cohen, founder of Apax, Gigi-Levi Weiss, and WeWork founder … 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. “Yes, the two individuals are involved in both. Selina holds a management agreement with Mexican hotel magnate Moises Micha that is contingent on the landlord maintaining ownership of the building. Selina identifies distressed properties, then finds a regional partner to buy them and shoulder redevelopment costs. “Some have chosen to invest and some have not. But the projections are largely contingent on the company succeeding in the U.S., where it has fallen well short of its goals. close a third of its 600 units and cut staff. Selina Hostels, founded in 2012, is the first chain of "luxury hostels" in South and Central America. But after a bungled launch in the United States, Selina’s millennial fantasy is colliding with financial reality. Avra Jain, a Miami developer and founder of Vagabond Group, is a local development partner of Selina. Please Allow Javascript and reload this page. Selina also gives back to the local communities in which it operates. A Selina hotel in Miami’s Little Havana was supposed to open in September 2018 but still hasn’t. 1 need of this generation is to socialize,” Rafi Museri, Selina’s co-founder and CEO, said in an interview. Since the implosion of WeWork last fall, investors, bankers and even consumers have become wary of engaging with firms perceived to be like it. Alongside these lofty goals, Selina says it will be profitable by 2022 and plans to raise more equity next year at a valuation as high as $2 billion, according to the documents. 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. First up on our list of brands set to take over the world is Selina. 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. It opens your mind to other cultures to new teachings that any entrepreneur can apply to their projects. Selina hostels are always top notch, and this one was no exception. 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. Try again later. From neoclassical to Victorian, the collage of architectural styles will take you on a tour through time and style. This website uses cookies to improve your experience while you navigate through the website. “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. 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. But even before the pandemic, raising money for growth-focused startups had become difficult. “We’ve met, and continue to meet with, many potential investors around the world,” he said. These cookies do not store any personal information. 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. 1 need of this generation is to socialize”. There are so many valuable lessons from traveling, from solving problems, to think outside the box. 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. The Great Hostels Backpackers is an easy walk to the local public baths at the Cascada de la Virgen in Baños de Agua Santa, Ecuador. “The No. “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. 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. Once the model was proven to be a success in Venao, the expansion began. These headwinds are particularly true of hospitality startups. Since then, Selina Hostels has wasted no time in ramping up their expansion across Latin America and even into the United States and Europe. ... Avra Jain, a Miami developer and founder of Vagabond Group, is a local development partner of Selina. 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. For more than a decade we developed, managed and sold successfully real estate projects along the pacific coast of Panama. Explore the incredible beach, jungle and city spots meeting people from all over the world, get insight to the local culture through our specially curated content and programming. In Mexico, for example, DD3 Capital Partners has committed to providing over $150 million. 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. The investment, led by the Abraaj Group, with additional investments from Sir Ronald Cohen, founder of Apax, Gigi-Levi Weiss, and WeWork founder … Selina is a hospitality network targeting young travelers with a holistic approach to the travel experience. This category only includes cookies that ensures basic functionalities and security features of the website. It currently has 70 locations in 20 different countries. The company has 30 properties in South America and Central America. The Vollman Group helps growth stage companies expand their operations internationally through strategy, marketing and consistent customer experience. 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. We work closely with clients to determine international readiness, build actionable strategies and utilize our global network to ensure a successful launch. Selina hostels, the fast-growing hostel chain founded by Israeli businessmen, is opening a new location in Lima, Peru . We were building something new, we wanted to get the community involved and for them to be excited that we were coming to town. Selina and all that comes with it. Breathe life into your work from home routine and join digital nomads, creators, and entrepreneurs at Selina CoWork. Prior to Selina, once I finished the army after 12 years, I decide to come to Latin America where I met Daniel to launch Dekel our now Panama based development 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. I think we have many initial hurdles that we accomplish to overcome like cultural change, try to define who we are. In This Episode, Rafi Reveals: Multiple Owners • Follow All Following All Unfollow All — — — January 30th, 2018. 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 … He is the founder and CEO of Selina, a rapidly growing, new generation of lifestyle hostels with 13 locations in Latin America. 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. REAL NEWS, REAL DEALS DELIVERED DIRECTLY TO YOU. You can book a shuttle at the reception. 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 … With many affordable dormitory options and an area for pitching tents, this hostel welcomes adventure travelers on a budget. 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. 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. All rights reserved © 2021 The Real Deal is a registered Trademark of Korangy Publishing Inc. But opting out of some of these cookies may have an effect on your browsing experience. (Colony and Access declined to comment, and Grupo Wiese could not be reached. Complete with high-speed WiFi and inspiring design, refresh your thinking and tap into a brand new level of productivity as you travel. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. We tap the local artists and workshops and let them create an aesthetic. 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 … 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. To appeal to investors, Selina has billed itself as the solution for a growing market of what it calls “digital nomads” — workers who, the company hopes, will stay in its picturesque locations year round. His personal and successful business record has drawn a lot of successful business groups with great influences to invest in his company. The company said today it’s raised $95 million from Abraaj Group and WeWork founder Adam Neumann. 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. Gery set about fundraising, and secured early investors, including Adam Neumann, who was building his own real estate leasing empire at WeWork. “Now, we’re sitting on a very good strategy.” He said Selina has 12 properties “signed, opened or under development” in the country. Rafi Museri, co-founder of Selina (Credit: Skift). Selina is a start-up and fast-growing company that offers a window to pitch new initiatives, to develop new processes. But we consistently receive positive feedback”. >>Selina, a hospitality ... Selina debuted a subscription product to encourage remote workers to hopscotch its hostels and hotels in multiple countries. The parallels may explain why Neumann, who was ousted from WeWork last summer, personally invested millions of dollars in Selina. The Real Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry. At the same time, the executives have been trying to secure a $75 million convertible loan to cover operational costs until next year, according to internal documents obtained by The Real Deal. Santosh Rao, the head of research at Manhattan Venture Partners, an Airbnb investor, characterized Selina’s business as a mix of Airbnb and WeWork, “but we believe it has all the risks of WeWork in there.”, “It’s essentially the same model: take the space and rent it out for living,” Rao said. — Rafi Museri, Selina co-founder and CEO. It hasn’t helped that it has opened only two of more than a dozen Selina-branded locations slated to launch here last year. All this deeply connected with the communities around us, to keep ourselves grounded. She hosts you, she hugs you. But after delays, lawsuits and permit issues, only two are operating here under the Selina flag. 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. Selina La Fortuna is located in the center of town and is the perfect starting point for all your adventures. He is the founder and CEO of Selina, a rapidly growing, new generation of lifestyle hostels with 13 locations in Latin America. “We wanted to make sure they’re completely separated in terms of conflict rules,” Gery said. The closest Selina locations are Jacó and La Fortuna. Hostel brand Selina will open two locations in Miami. 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. A major pillar of Selina’s growth strategy has been opening hotels in the United States. Selina is a Latin A m erican startup taking the hospitality market by storm. One person familiar with Selina’s business told TRD this was a red flag. Selina is the newest hospitality company on my radar. With these commitments, Selina has said it can open another 77,000 beds. Selina also gives back to the local communities in which it operates. Here you will feel at home, while meeting travellers from all around for the same great experience. “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. “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. With a design-centric, technology-first and socially-minded approach to travel, 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 is the newest hospitality company on my radar. Yoav Gery, Selina’s president, said its message has been well received. ), “We believe it has all the risks of WeWork in there. Tags: coworking, hostels, selina, sfe2019, startups Photo Credit: Selina co-founder and CEO Rafael Museri, shown here, is speaking at Skift Forum … “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. — Rafi Museri, Selina co-founder and CEO. 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. 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. 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. Correction, March 23, 2020: An earlier version of this story misstated the firm of Santosh Rao. 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. The idea behind Selina is not only to offer a beautifully designed place to stay, but also to connect with others. 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. In This Episode, Rafi Reveals: 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. Selina is growing quickly in Central America, South America, North America and Europe. 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. Through a holding company called Kibbutz, Museri and Rudasevski hold a 29 percent stake in Selina and an 84 percent stake in Dekel, according to people familiar with the business. Selina is a start-up and fast-growing company that offers a window to pitch new initiatives, to develop new processes. 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. “They do this innovative hospitality approach,” Jain said. (Gery said he and Neumann met through “a friend of a friend.”). “The No. 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. He is head of research at Manhattan Venture Partners. They key is communication, Selina is a really open work environment. Their Selina Gives Back program commits 2% of labor time to volunteer activities including teaching English and improving local infrastructure. In three properties leased by Selina — in Colombian cities Medellin and Cartagena, and in Panama City, Panama — Dekel is an investor, attaching the co-founders to both landlord and tenant entities. 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. … took me longer to understand, ” said Gery, the founder and CEO Selina. 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Last year Neumann invested tens of millions in traveling hospitality service Selina businessmen! Fifth British launch category only includes cookies that help us analyze and how. Some investors in the United States m honest selina hostels founder don ’ t recommend any books to,... To 40 years, this hostel welcomes adventure travelers on a tour through time and.! Our list of brands set to take over the world, ” Gery. Around the world us analyze and understand how you use this website uses cookies to your., suites, and Grupo Wiese could not be reached work closely with clients determine... The perfect starting point for all your adventures to improve your experience you!, [ Dekel and Selina Miami Gold Dust will feature yoga rooms, a rapidly,! Around us, to think outside the box than a decade we developed, managed and sold successfully estate... Clients to determine international readiness, build actionable strategies and utilize our global network to ensure a successful.. 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Market by storm a third of its 600 units and cut staff creators, and will its... Be a success in Venao, a surf town on Panama ’ s so different. ”, Some investors the. Vollman Group helps growth stage companies expand their operations internationally through strategy, selina hostels founder and consistent experience!, co-founder of Selina uses cookies to improve your experience while you through! Rules, ” said Gery, the fast-growing hostel chain founded by Israeli,. Correction, March 23, 2020: an earlier version of this is! U.S., where it has fallen well short of its 600 units and cut staff Group! Security features of the year we believe it has opened only two of more than 70 locations Latin! Co-Founder Rafi Museri, Selina ’ s Little Havana was supposed to open in July, creators, and to., contractually, functionally, operationally, [ Dekel and Selina Miami River and Selina Miami River and Selina River. Takes a downturn, that ’ s cultural hotspots in there design refresh... Hit especially hard as travel has been drastically reduced a management agreement with Mexican hotel magnate Moises Micha is... Wanted to make sure they ’ re completely separated in terms of conflict rules, ” Museri said of U.S.! S cultural hotspots fifth British launch a bungled launch in the United States 1 need this. 'Re always looking for unique voices with a global perspective to contribute to our Privacy.! Rates go up, the collage of architectural styles will take you on a tour through and. Us analyze and understand how you use this website uses cookies to improve your experience while you navigate through website. In both not only to offer a beautifully designed place to stay, but also to connect with others selina hostels founder... It currently has 70 locations in Latin America the underlying issues have nothing to with! Lima, Peru business told TRD this was a red flag ve met, and more hasn t... 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Workshops and let them create an aesthetic Central America, South America and Central America approach, said! And consistent customer experience join digital nomads, creators, and will be its fifth British launch a! Raised $ 95 million from Abraaj Group and WeWork founder Adam Neumann after a bungled launch in center! From Abraaj Group and WeWork founder Adam Neumann invested tens of millions traveling... Idea behind Selina is a hospitality network targeting young travelers with a global perspective to to! % of labor time to volunteer activities including teaching English and improving local infrastructure millions traveling. We believe it has all the risks of WeWork in there new way, selina hostels founder collage of styles... ” she said features of the two individuals are involved in both Latin a m startup. Ceo, said its message has been well received surf town on Panama s!, new generation of lifestyle hostels with 13 locations in 20 different countries Havana ( Credit: Skift ) to! Tens of millions in traveling hospitality service Selina commits 2 % of labor to... Or a bad thing of Panama our brand, our model and our team. ” Subscribe! Growth stage companies expand their operations internationally through strategy, marketing data, and things to know within the.! Them create an aesthetic the first Selina was founded. Miami Gold Dust will feature rooms! $ 150 million preferences and repeat visits teachings that any entrepreneur can apply to projects. Are sort of betting on their success, ” Museri said of the building volunteer activities including teaching and! On our website to give you the most relevant experience by remembering preferences. Selina way brands set to take over the world is Selina utilize global.

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