Press release
Collective Hospitality Acquires trading assets of Selina Hospitality PLC (in administration)
Collective Hospitality Pte Ltd [https://collectivehospitality.com], ("Collective") a leading hospitality owner and operator based in Singapore, today announced the successful acquisition of the majority of the business of Selina Hospitality PLC [https://selina.com] (in administration) ("Selina PLC" or the "Company"), a globally recognized lifestyle and experiential hospitality group. This acquisition represents a significant milestone in Collective's strategic expansion of its lifestyle and experiential travel businesses. This travel segment includes younger nomad workers and leisure travellers favouring properties that offer shared, memorable experiences. Collective Hospitality is now one of the largest lifestyle hospitality owner/operators in the world.
On July 22, 2024 the Selina PLC board resolved to appoint Andrew Johnson, Samuel Ballinger, and Ali Khaki of FTI Consulting LLP as joint administrators of the Company (the "Joint Administrators"). The Joint Administrators assumed responsibility for management of the Company's affairs and launched an accelerated sales process for the operating subsidiaries and certain other assets of Selina PLC. On August 22, 2024, Collective acquired the majority of the operating subsidiaries of Selina PLC from the Joint Administrators which includes approximately 100 hotels in 22 countries which target the Gen Z and millennial markets ("Selina").
New York based Newmark Group's Lodging Capital Markets team is advising Collective on the acquisition.
Image: https://www.getnews.info/uploads/9fdfeca6eb372257f702e7a7c5df181e.png
About the Acquisition
The acquisition of Selina represents a strategic move which significantly enhances 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 the Selina distinctive ethos, loyalty program and expansive network will enable Collective to meet the evolving demands of millennial and Gen Z travellers who seek authentic, community-driven experiences.
"We are thrilled to welcome Selina into the Collective Hospitality family," said Gary Murray, CEO of Collective Hospitality PTE Ltd. "Selina's innovative approach to blending work, leisure, and culture aligns perfectly with our vision of creating memorable experiences for our millennial and Gen Z guests. This acquisition not only expands our portfolio of properties but also strengthens our commitment to redefining hospitality in the modern era." The Selina properties will be combined with Collective's other lifestyle social accommodation resorts including Slumber Party, Bodega Hostels, and Socialtel resorts.
Looking Ahead
With the integration of Selina, Collective plans to further enhance its offerings by introducing more innovative guest experiences, expanding its global reach, and explore new opportunities in the lifestyle and experiential travel sectors. We look to create amazing Instagram experiences for our guests, non-stop adventure and fun, and opportunities to meet other young people and make new friendships for life.
The combined expertise and resources will drive continued growth and create exceptional value for guests, employees, and stakeholders.
About Collective Hospitality PTE Ltd
Collective Hospitality is owned by Destination Group [https://destination-group.com], founded by Gary Murray in 1996 which has been successfully rebranding and repositioning four- and five-star hotels in Southeast Asia since 1997. The company has grown and expanded into the F&B business with Destination Eats and lifestyle millennial and Gen Z accommodation business with Collective Hospitality. Collective Hospitality is a dynamic and forward-thinking hospitality group with a diverse portfolio of resorts across the Asia-Pacific region. The company specializes in creating unique, design-led accommodations that caters to the modern traveller's need for comfort, style, and connectivity. Collective Hospitality's resort brands include Slumber Party, Bodega Hostels, and Socialtel resorts. Slumber is our party fun brand with a focus to create epic parties and adventures for our guests - Adventure Hard and Party Harder is our motto. Bodega is our chill brand with a focus on the local experiences and digital nomads - Be Part of the Family is our motto. Socialtel is our four star resort brand that focusses on creating social experiences for our guests to mingle and meet new friends - Live Social... Be Social is our motto. All of our brands focus on adventure, sustainability, community, innovation, and guest satisfaction. Collective Hospitality has quickly become a leader in the hospitality industry, renowned for its commitment to excellence and its ability to anticipate and respond to market trends.
About Selina
Selina hotels and resorts is a rapidly growing hospitality group that combines affordable accommodations with co-working spaces, wellness offerings, and local experiences tailored for today's digital nomads and adventure seekers. Founded in 2015, Selina has established a strong presence in some of the world's most sought-after destinations, offering travellers a place to stay, work, and connect with like-minded individuals. Selina is celebrated for its vibrant community atmosphere, eclectic design, and commitment to sustainability. Selina operates over 100 properties in 22 countries.
For more information, please contact:
Media Contact:
Rounak Keshri
Investment Head Collective Hospitality Pte Ltd
rounak@collectivehospitality.com
Download the Press Release:
https://collectivehospitality.com/wp-content/uploads/2024/08/Collective-Hospitality-Acquires-trading-assets-of-Selina-Hospitality-PLC.pdf [http://collectivehospitality.com/wp-content/uploads/2024/08/Collective-Hospitality-Acquires-trading-assets-of-Selina-Hospitality-PLC.pdf]
Media Contact
Company Name: Collective Hospitality Pte Ltd
Contact Person: Rounak Keshri
Email: Send Email [http://www.universalpressrelease.com/?pr=collective-hospitality-acquires-trading-assets-of-selina-hospitality-plc-in-administration]
City: Pakkret
State: Nonthaburi
Country: Thailand
Website: http://collectivehospitality.com
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