Pictured: The newly opened Selina Union Market in Washington DC, USA.
Selina, a hotel brand targeted at Millennials and Gen Z, uses rapid conversion techniques to rapidly expand its global portfolio.
The US-based brand signed eight new properties comprising 3,204 beds in the second quarter of 2022. These were in Australia, the US, Greece, Mexico, Portugal, Panama and Israel, this which represents a 33% increase from the six signed in the first quarter of this year. , and up 32.5% year-over-year.
Selina’s fast-paced strategic model is one of the reasons its global presence is proliferating. It identifies underperforming hotels using proprietary technology and then converts them to an average of only around 120 days, typically increasing bed density per location to also increase profitability.
The brand is particularly targeting what it describes as “old and tired hotels,” transforming them into contemporary places that it claims generate, on average, a 2.4x increase in revenue compared to previous hotel operators. Destinations are developed specifically for Millennials and Gen Z travelers, incorporating shared and coworking spaces.
The biggest millennial brand
Selina has spent the past several years building and evolving its platform, growing from 250 beds at two sites in 2014 to its current portfolio of 40,000 beds at 155 sites, including 55 pipeline properties. The company believes that this amount makes it the largest hospitality brand designed to meet the needs of Millennials and Gen Z travelers.
The TOPHOTELPROJECTS database lists several such upcoming destinations including the 100-room Selina Flores in Guatemala; the 50-key Selina Ushaia; and Selina Cali, which is due to open in Colombia in 2023.
Considering both urban and remote sites, Selina said it currently has approximately 6,000 additional beds in advanced negotiations, for sites in the United States, the Caribbean, Spain, Germany, Greece and Thailand.
Selina also said her portfolio should mature quickly and move into more developed markets, predicting that her more developed sites will reach 31% of her full system by the end of 2022. This change is also aimed at generating higher revenue. through higher rates, occupancy and F&B revenue.
In the second quarter of 2022, Selina opened eight new properties in Greece, Australia, Portugal, Panama, the United States, Morocco and Israel. This included Selina Paros, Selina Brisbane, Selina Evora, Selina Boquete, Selina Washington DC, Selina Agafay, Selina Desert Garden and Selina Metula.
Co-founder and CEO of Selina Raphael Museri said, “We are excited to continue Selina’s expansion across six continents, allowing us to further immerse our brand’s programming, events, entertainment, dining and nightlife into the fabric of local communities with authentic and relevant destinations for locals and travellers.
“In doing so, we are able to create value for local property owners, jobs for local residents, and dynamic and engaging travel experiences for our loyal network of adventurers, telecommuters and digital nomads. The breadth of our portfolio and customer base, as well as the enhancements we are making to our platform, help drive revenue during peak and low travel seasons and give us confidence that we will continue to be able to evolve responsibly and sustainably in the years to come.”