5 Reveals About Selina Pulled From Its $1.2 Billion SPAC Filing
Photo Caption: View of a pre-pandemic co-working space at a Selina property in Maderas, Nicaragua. Photo by Kuba Okon for Selina.
Skift Take
Before going public, Selina has offered a 63-page investor deck, touting its brilliance. But can the hospitality startup scale? We dig into the data and the premises behind the pitch to weigh the risks.
As the numbers of upwardly mobile millennial workers grow, a group of companies has emerged to provide relevant travel accommodation — grabbing the attention of investors.
That's key context for understanding why hospitality brand Selina is going public by merging with BOA Acquisition Corp — a special purpose acquisition company (SPAC) — in a $1.2 billion deal. The startup is selling a story many retail investors are currently hot for.
Selina runs 134 properties, most of which are premium hostels, usually with private rooms but sometimes with dorm-style halls. It occasionally runs traditional hotels, too, such as Selina Chelsea.
Brandwide, it delivers reliable facilities for remote working. It adds a veneer of local flavor and artsy decor. It also encourages guests to mix socially through activities, such as parties, surf lessons, and pole-dancing workshops.
We took a look at Selina's recently released investor pitch deck. A few points
