Articles tagged “selina”

Remote Year said it was closing, upsetting many customers who had paid for future trips as digital nomads. Two CEOs are pointing fingers at each other. It's the vendors in emerging markets who will likely be hurt most.

Remote Year was a small but pioneering company, innovating on the edges over the years. Sad to see it come to an end.

A fire sale gives a new lease on life to Selina, a brand that reinvented hostels for the TikTok generation but struggled after a debt binge.

Selina billed itself as a pioneer in the "digital nomad" hospitality sector. But it can no longer avoid insolvency. Its woes can be partly traced back to its ill-fated SPAC merger in October 2022.

Selina Hospitality’s existing shareholders face dilution as Osprey International Limited expedites its $6 million investment, impacting the company’s total share structure unfavorably.

Selina Hospitality received a delisting notice from Nasdaq due to its low stock price, but plans to implement a reverse stock split to regain compliance.

Selina issued an update, emphasizing management's confidence through executive stock conversions and alignment with shareholders, clarifying that insider stock sales were automatic transactions for tax purposes, not discretionary market sales.

Lodging stocks and the broader market traded and closed higher on Friday, but Selina decided to go its own way and closed at a new all-time low. 

Selina has been partly counting on the patience of owners and financial partners as it restructures to live another day. But at least one hotel owner ran out of patience.

The short-term rental sector is growing, but property managers have been having a hard time as supply has outpaced demand.