WeWork founder Adam Neumann and Dubai investor company Abraaj Group had invested $95 million in an emerging startup, Selina. The company combines a co-working space, curated tours, and traveling hospitality services.
Founded in 2014 by two Israeli friends Rafael Museri and Daniel Ruadsevski in Panama, Selina geared toward Central America and currently has 22 locations throughout the Latin America and offices in Panama, London, and New York.
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“There are lifestyle hotels, surf camps, co-working places, hostels, and all those kinds of properties,” Selina’s president Yoav Gery told Techcrunch. “A lot of companies talk the same talk. What was different about us and what we were telling the world is we were doing something different in the hospitality world. We’re creating a much more holistic program for the traveler. It’s not just a hotel, or for co-working. It’s everything that the traveler would want. And we hope the speed at which we’re doing it is also unique. Most hotels couldn’t get a product and convert it in 3 or 4 months into a new brand.”
Selina is a kind of ramped-up hostel but still does serve different price from the bunk room set-up at a common hostel for under $30 a night to a more traditional hotel room and higher price.
