NEW YORK — While no one could have predicted the magnitude of the remote work and coworking trend in recent years, Selina CEO and co-founder Rafael Museri came close.

When Museri and Daniel Rudasevski co-founded Selina in 2014 as a brand that combines accommodation, coworking, leisure, wellness and local experiences for millennial and Gen Z nomadic travelers, Museri said he knew the coworking trend was about to take off. The company’s first property opened in Panama in 2015.

“In every Selina we’ve opened since then, coworking is part of the product,” he said in a video interview at NYU International Hospitality Industry Investment Conference 2022. “This trend had been around for many years. COVID I think just exposed it very clearly because people were being forced to work outside [of offices] and they have proven that they can be efficient and productive.”

While many hotel brands choose to plant their flags in major markets, Museri said Selina isn’t afraid to seek out off-the-grid locations. The brand’s growth in the coming years will also occur in developed countries and emerging markets, depending on consumer trends, he said.

“And inside [each of] these markets, we will continue to aim for approximately 60% to 70% experiential mountains, beaches, off-grid [locations] and about 30% urban,” he said. “That’s the trend – we just listen to market research… [guests] want the retreat style. The urban is now becoming a little less attractive for them.”

Additionally, approximately 98% of future Selina properties will be converted from existing hotels.

“Large-scale construction, complicated development projects are not for us,” he said.

Based in London, Selina currently operates in 155 destinations worldwide, including Australia, Argentina, Brazil, Colombia, Greece, the United States and the United Kingdom.

The brand’s most recent opening was the 106-room Selina Union Market, which opened in June in Washington, D.C.

Investors backing Selina include both institutions and individuals – ranging from the tech, real estate and hospitality sectors – across the world, which Museri says is a terrific group of people to have on board.

Late last year, Selina executives announced that the company had reached a definitive agreement publish through a merger with special purpose acquisition company BOA Acquisition Corp. in a deal that values ​​the company at approximately $1.2 billion. The transaction is expected to close in the third quarter of 2022.

Museri said now is the time to go public “to allow our customers to be a part of it” and because the company will benefit from the inherent structure of public companies.

He said the process “forces the startup to mature” and recognizes that “the public market will serve us better” as the company approaches growth opportunities.

Traveling is no longer just about vacationing for four days a few times a year, Museri said. There is now increased interest from travelers wanting to take multi-month trips while working remotely, which means customers need more from their rooms.

“When you’re talking about people living in your property for two, three months, they need more space, they need laundry services, they need little refrigerators, little kitchenettes,” he said. declared.

For more from Selina CEO and co-founder Rafael Museri, watch the video above.

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