selina hostels founder

It’s a millennial’s dream: traveling the world while working, drinking, exploring and meeting like-minded nomads in chic hotels. “Some have chosen to invest and some have not. 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. This month we’re talking to Rafi Museri, the Founder of 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. That’s what Selina is selling. Try again later. “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. 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. These cookies do not store any personal information. 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. 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. “That means the No. 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. More will come. 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. 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. 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. For full functionality of this site it is necessary to enable JavaScript. We are having some technical difficulties. Once the model was proven to be a success in Venao, the expansion began. Selina is community, is family, disruptive, environmentally conscious. The Vollman Group helps growth stage companies expand their operations internationally through strategy, marketing and consistent customer experience. 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. 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. 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. 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. The investment, led by the Abraaj Group, with additional investments from Sir Ronald Cohen, founder of Apax, Gigi-Levi Weiss, and WeWork founder … You want to be with her.”. Selina is the newest hospitality company on my radar. “We’ve met, and continue to meet with, many potential investors around the world,” he said. 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. Rafi Museri, co-founder of Selina (Credit: Skift). Selina is a Latin A m erican startup taking the hospitality market by storm. In This Episode, Rafi Reveals: 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. Javascript is disabled in your web browser. Selina is a start-up and fast-growing company that offers a window to pitch new initiatives, to develop new processes. “Yes, the two individuals are involved in both. 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. In This Episode, Rafi Reveals: “The No. The idea behind Selina is not only to offer a beautifully designed place to stay, but also to connect with others. Selina also gives back to the local communities in which it operates. 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 is a start-up and fast-growing company that offers a window to pitch new initiatives, to develop new processes. >>Selina, a hospitality ... Selina debuted a subscription product to encourage remote workers to hopscotch its hostels and hotels in multiple countries. Selina is a WYSE Travel Confederation member which operates hostels that combine accommodation, co-working space, tours, wellness and fitness classes, and more. “Now, we’re sitting on a very good strategy.” He said Selina has 12 properties “signed, opened or under development” in the country. 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. “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. Yoav Gery, Selina’s president, said its message has been well received. Daniel and I committed to a year of intense market research by traveling across the globe and lodging at more than 140 hospitality venues. We live the nomadic lifestyle and promote it. Selina also gives back to the local communities in which it operates. But we consistently receive positive feedback about our brand, our model and our team.”. Multiple Owners • Follow All Following All Unfollow All — — — January 30th, 2018. It is not meant to be a round trip, although it is possible to arrange a one-day round trip option. Selina Hostels, founded in 2012, is the first chain of "luxury hostels" in South and Central America. 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. Tags: coworking, hostels, selina, sfe2019, startups Photo Credit: Selina co-founder and CEO Rafael Museri, shown here, is speaking at Skift Forum … Since the implosion of WeWork last fall, investors, bankers and even consumers have become wary of engaging with firms perceived to be like it. Behind the idyllic hostels — now in more than 70 locations — is a novel business arrangement. 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. 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. It has expanded to include 25 locations in cities, towns or … 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. Selina Hostels. close a third of its 600 units and cut staff. If vacancy rates go up, the economy takes a downturn, that’s a risk level I don’t want”. I think we have many initial hurdles that we accomplish to overcome like cultural change, try to define who we are. It is mandatory to procure user consent prior to running these cookies on your website. He said the hotel is slated to open in July. This is the new way, the Selina way. “The underlying issues have nothing to do with Selina or its operation of the property,” said Gery, the president. With many affordable dormitory options and an area for pitching tents, this hostel welcomes adventure travelers on a budget. “Definitely the strategy of the U.S. … took me longer to understand,” Museri said. He did not respond to requests for comment. In March 2019 it announced a plan to open 15 by the end of the year. Selina is growing quickly in Central America, South America, North America and Europe. Defenitely the best Selina’s experience among others that I also visited during my trip in Colombia 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. Some headaches remain. 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. Gery set about fundraising, and secured early investors, including Adam Neumann, who was building his own real estate leasing empire at WeWork. The company has 30 properties in South America and Central America. 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. He is head of research at Manhattan Venture Partners. The company said today it’s raised $95 million from Abraaj Group and WeWork founder Adam Neumann. We were building something new, we wanted to get the community involved and for them to be excited that we were coming to town. 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. 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. We select only the most incredible places across Latin America, North America, 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. They have everything you need, including a big kitchen, a small cafe, a bar, a theater, and a fantastic location. His personal and successful business record has drawn a lot of successful business groups with great influences to invest in his company. He is the founder and CEO of Selina, a rapidly growing, new generation of lifestyle hostels with 13 locations in Latin America. With some landlords it agrees to profit-sharing. Selina also gives back to the local communities in which it operates. “We wanted to make sure they’re completely separated in terms of conflict rules,” Gery said. We're always looking for unique voices with a global perspective to contribute to our blog. — Rafi Museri, Selina co-founder and CEO. Selina president Yoav Gery and co-founder Rafi Museri (Illustration by The Real Deal). If I’m honest I don’t recommend any books to entrepreneurs, I encourage them to travel. Hostel brand Selina will open two locations in Miami. 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. He is the founder and CEO of Selina, a rapidly growing, new generation of lifestyle hostels with 13 locations in Latin America. The first Selina was launched in Venao, a surf town on Panama’s Pacific coast, in 2014. But after delays, lawsuits and permit issues, only two are operating here under the Selina flag. “It’s so different.”, Some investors in the hospitality sector, however, see red flags. 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. We tap the local artists and workshops and let them create an aesthetic. 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. 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 investment, led by the Abraaj Group, with additional investments from Sir Ronald Cohen, founder of Apax, Gigi-Levi Weiss, and WeWork founder … Selina hostels, the fast-growing hostel chain founded by Israeli businessmen, is opening a new location in Lima, Peru . 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. REAL NEWS, REAL DEALS DELIVERED DIRECTLY TO YOU. But after a bungled launch in the United States, Selina’s millennial fantasy is colliding with financial reality. Even though Museri and Rudasevski have large stakes in Selina and Dekel, Gery said measures — such as having independent management teams — are taken to ensure there are no conflicts of interest. We also use third-party cookies that help us analyze and understand how you use this website. 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. 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. But the projections are largely contingent on the company succeeding in the U.S., where it has fallen well short of its goals. She expressed confidence in her arrangement with Selina because she has a profit-sharing arrangement. Selina is the newest hospitality company on my radar. We are all very happy entrepreneurs trying to build the right product for a new generation. All this deeply connected with the communities around us, to keep ourselves grounded. Selina is a kind of ramped-up hostel but still does serve different price from a common hostel … Selina is not just a hospitality brand. It currently has 70 locations in 20 different countries. In Mexico, for example, DD3 Capital Partners has committed to providing over $150 million. Selina - Great hostels for backpackers. Their Selina Gives Back program commits 2% of labor time to volunteer activities including teaching English and improving local infrastructure. They key is communication, Selina is a really open work environment. This category only includes cookies that ensures basic functionalities and security features of the website. It opens your mind to other cultures to new teachings that any entrepreneur can apply to their projects. 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. Here you will feel at home, while meeting travellers from all around for the same great experience. We work closely with clients to determine international readiness, build actionable strategies and utilize our global network to ensure a successful launch. 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. “They do this innovative hospitality approach,” Jain said. “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. Selina and all that comes with it. So was the firm’s valuation of $1.8 billion, by one internal estimate, on forecasted $200 million revenue this year. 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. 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. Breathe life into your work from home routine and join digital nomads, creators, and entrepreneurs at Selina CoWork. 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. 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 two co-founders left their executive roles at Dekel when Selina was founded.) This website uses cookies to improve your experience while you navigate through the website. 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. 1 need of this generation is to socialize,” Rafi Museri, Selina’s co-founder and CEO, said in an interview. And now the coronavirus pandemic has crippled the hospitality industry. 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 … You can book a shuttle at the reception. 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. A Selina hotel in Miami’s Little Havana was supposed to open in September 2018 but still hasn’t. Christine United States. “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. Complete with high-speed WiFi and inspiring design, refresh your thinking and tap into a brand new level of productivity as you travel. 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. But legally, contractually, functionally, operationally, [Dekel and Selina] are two separate entities.”. “The No. (Gery said he and Neumann met through “a friend of a friend.”). The parallels may explain why Neumann, who was ousted from WeWork last summer, personally invested millions of dollars in Selina. At Selina we believe in social interaction, between fellow travelers, locals and staff, and exposure to new ideas, ways of life and experiences. Is that a good thing or a bad thing? Since then, Selina Hostels has wasted no time in ramping up their expansion across Latin America and even into the United States and Europe. Selina is a hospitality network targeting young travelers with a holistic approach to the travel experience. ... Avra Jain, a Miami developer and founder of Vagabond Group, is a local development partner of Selina. Avra Jain, a Miami developer and founder of Vagabond Group, is a local development partner of Selina. Selina Camden is part of the brand’s £80 million expansion across Europe, and will be its fifth British launch. But we consistently receive positive feedback”. “I see zero synergy,” Museri said of the two companies. 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. Hotels have been hit especially hard as travel has been drastically reduced. 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. Global network to ensure a successful launch, marketing and consistent customer experience coronavirus pandemic has crippled the hospitality,... So many valuable lessons from traveling, from solving problems, to develop processes. 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