Selina hopes to avoid bankruptcy by seeking a restructuring out of court. Other travel companies that have similarly struggled after going public in a rocky market will watch closely.
Selina, a hotel and experiences brand focused on youth travelers, said on Wednesday that its financial metrics were trending in the right direction as it reported earnings results.
Selina's stock price stabilized on Monday after a sharp drop to an all-time low on Friday. The chain of premium hostels and coworking spots is taking steps to escape penny-stock status.
Selina Hospitality was read its last rites as it tried to avoid a reverse split to stay listed. SLNA plunged -41% to a new all-time low. They filed a revised prospectus with the SEC, and while it shows how ugly things are, with numerous financings, convertibles, and eventually a lot more shares, we didn’t see anything that wasn’t out there already.
Buying a share in a company typically involves hoping the stock price rises over time and maybe means sharing in dividends. But Selina, an upstart hospitality brand, said on Wednesday…
Analysts become more cautious about leisure travelers' demand for hotels. Plus, more highlights from this week's news in hotel deals and development worldwide.
From Accor’s ambitious expansion to Airbnb’s comeback, we covered the latest news and insights in the travel industry, with a special focus on hotel technology and facial recognition.
The pledged capital injection from Global University Systems, a long-time player in for-profit education, is tiny. But its for-profit discipline is what Selina needs. In that vein, Selina will cut up to 350 jobs.