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Hospitality Agreement Acknowledges Economic Power of Digital Nomads, Influencers
Washington, DC-based BOA Acquisition Corp., has entered into a definitive business agreement with Selina, a hospitality group that identifies underperforming properties with the intent of transforming then marketing them to Millennials and Gen Zs who work remotely while traveling extensively. The agreement will result in Selina becoming a publicly listed company on the New York Stock Exchange.
The transaction values the pro forma company at an equity value of approximately $1.2 billion.
Selina employs an asset-light operating model predicated on partnering with real estate owners who want to serve the expanding class of Millennial and Gen Z travelers.
Selina’s lifestyle brand was developed specifically for a cohort that spends approximately $350 billion per year on travel and values engaging with the local community, according to the company. It expects a further surge in remote working and the prioritization of health, wellness and an experiential lifestyle among these travelers.
- ◦Financing
