LONDON, October 6, 2021 / PRNewswire / – Selina, the fast-growing hotel and experience brand targeting Gen Y and Gen Z travelers, announced a new local partner in Israel, the Hagag Group, as the brand’s exclusive real estate partner in the region.
Selina has evolved over the past six years, bringing the brand to 116 open and secure properties in 20 countries, creating a global community of destinations and experiences that enables a new generation to travel, work and play seamlessly. . Selina’s asset-lightening business model includes partnering with strong local real estate partners who cover 90% of the cost to quickly convert properties into vibrant, locally-inspired Selina branded destinations.
“Our affiliation with the Hagag group will allow Selina to rapidly develop our presence in Israel. We are delighted that such an experienced local developer has chosen us as a hotel partner, ”said Rafael Museri, CEO and co-founder of Selina. “Today, Selina has nine local partners in different regions of the world, from Brazil To Mexico UK, Portugal and now, Israel. Our success comes from finding strong and relevant partners like the Hagag Group who understand the potential of our target audience and will help us successfully deploy the brand in their geographies. “
Selina plans to secure 8,000 beds in Israel over the next three years and target popular domestic and international travel destinations such as Jerusalem, Tel Aviv, Haifa, Negev and Galileo. Today the brand has four properties open to Neve Tzedek; Tel Aviv, Beit Oren in the Carmel Mountains, the recently opened in Jerusalem’s Maale Hahamisha Mountains and a popular glamping hotel inside Ramon Crater.
Property of Tzachi and Eido Hagag, the Hagag group (TASE), a company listed in the Tel Aviv, Israel purse, committed $ 150 million to acquire, convert and finance properties and then rent them to Selina for use. The Hagag group will invest a $ 30 million in the conversion of properties that Selina will rent to third parties. Selina’s conversion process typically takes between 90 and 120 days. Local designers and artisans are brought to the property to give birth to a new Selina by recycling up to 90% of the current real estate inventory.
“This long-term collaboration with Selina increases the diversity of the Hagag Group portfolio which enjoys financial stability and investment prospects in one of the fastest growing markets with high returns in Israel“said Tazchi Hagag of the Hagag Group.
Today, Selina has about $ 350 million in committed capital at its disposal, from local development partners in nine regions of the world, to help finance the next 40k beds over the next few years.
Selina is one of the world’s leading hospitality brands, designed to meet the needs of Millennials and Gen Z travelers, combining beautifully designed accommodation with coworking, recreation, wellness and experiences. local. Tailor-made for today’s nomadic traveler, Selina offers its clients a global infrastructure to seamlessly travel and work abroad. Founded in 2015, each Selina property is designed in partnership with local artists, designers and taste makers, breathing new life into existing buildings in interesting locations around the world – from urban towns to secluded beaches and jungles. Selina’s portfolio includes 116 open or secured properties in 20 countries. For more information on Selina, visit www.selina.com or check out @selina on Instagram or Facebook.
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