Collective Hospitality Acquires Selina Hospitality PLC's Key Assets
TL;DR
Collective Hospitality's acquisition of Selina PLC expands its global presence, adding 100 properties across major cities, giving it a significant advantage in the lifestyle hospitality industry.
The acquisition of Selina PLC represents a strategic move to enhance Collective's global presence, adding approximately 100 properties across major cities in North America, Latin America, Europe, and Asia to its portfolio.
The integration of Selina's distinctive ethos and loyalty program will enable Collective to meet the evolving demands of millennial and Gen Z travelers who seek authentic, community-driven experiences, making the world better for these travelers.
Selina's innovative approach to blending work, leisure, and culture aligns perfectly with Collective's vision of creating memorable experiences, providing opportunities to meet other young people and make new friendships for life.
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Collective Hospitality Pte Ltd, a prominent hospitality owner and operator based in Singapore, has successfully acquired the majority of the business assets of Selina Hospitality PLC, a globally recognized lifestyle and experiential hospitality group. This acquisition adds approximately 100 properties across 22 countries to Collective's portfolio, making it one of the largest lifestyle hospitality operators worldwide.
Selina Hospitality PLC, known for its appeal to Gen Z and millennial travelers seeking shared, memorable experiences, had entered administration and appointed FTI Consulting LLP as joint administrators on July 22, 2024. The acquisition process culminated on August 22, 2024, when Collective secured the majority of Selina's operating subsidiaries.
The strategic acquisition enhances Collective's global presence, incorporating Selina's ethos, loyalty programs, and expansive network into its offerings. This integration aligns with Collective's vision of creating authentic, community-driven experiences for younger travelers. Collective's CEO, Gary Murray, expressed enthusiasm about the acquisition, noting that Selina's innovative approach to blending work, leisure, and culture complements Collective's mission.
Newmark Group's Lodging Capital Markets team advised Collective on the acquisition. The Selina properties will join Collective's existing brands, including Slumber Party, Bodega Hostels, and Socialtel resorts, further diversifying its portfolio.
Looking ahead, Collective plans to introduce more innovative guest experiences and expand its global reach. The company aims to create engaging Instagram-worthy experiences, continuous adventures, and opportunities for guests to forge lasting friendships. The combined expertise and resources from this acquisition are expected to drive growth and create exceptional value for guests, employees, and stakeholders alike.
Curated from 24-7 Press Release
