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Selina Hospitality (NASDAQ: SLNA), a global lifestyle and hospitality company, has launched the 'Work Everywhere' campaign to promote its CoWork spaces. This initiative, running through July, aims to attract both locals and travelers by showcasing Selina's unique work environments designed for digital nomads. Selina's CoWork offerings include high-speed wifi, complimentary beverages, office supplies, and various workspace settings in locations like Medellin, Panama City, Punta del Este, and Porto. CEO Rafael Museri emphasizes that Selina's spaces foster productivity and cultural exploration, with access included in daily room charges or via membership plans.
Selina Hospitality (NASDAQ: SLNA) celebrates Pride Month with a variety of global initiatives to honor the LGBTQ+ community. Throughout June, Selina locations worldwide will host inclusive events such as Pride parades, workshops, LGBTQ+ cultural nights, live talks, and music events. These events aim to create safe spaces for all individuals to express themselves and celebrate diversity. CEO Rafael Museri emphasizes the company's commitment to inclusivity and diversity, both for guests and within its workforce. Staff are provided with resources and training to better understand and respect LGBTQ+ needs, enhancing the overall guest experience.
Selina joins the IDB TechnoArt Gateway Program to support Latin American and Caribbean startups entering the U.S. market. The program, established by IDB Lab and TechnoArt, partners with major regional players such as Univision, Delta Airlines, and Miami Dade County to offer strategic support. Participating companies will stay at Selina’s Miami location and benefit from IDB Lab and TechnoArt’s extensive networks. The program aims to connect entrepreneurs with local investors, accelerators, and service providers to foster growth and innovation. Additionally, a Gateway platform will be launched to help companies access a global marketplace for their products. The initiative expects to create significant value by bridging U.S. capital and Latin American talent, contributing to Miami's economic and tech growth.
Selina Hospitality PLC (NASDAQ: SLNA) has received a notice from Nasdaq regarding its failure to file its Form 20-F for the year ended December 31, 2023. This follows an earlier notification about its low closing bid price, which has been below $0.10 for ten consecutive trading days. Additionally, Selina was previously notified for not meeting the $1.00 minimum bid price requirement for 30 consecutive business days. The company has been given until September 3, 2024, to regain compliance, following an extension. A hearing with the Nasdaq Hearings Panel is scheduled for June 4, 2024, and the delisting is temporarily stayed pending the Panel's decision. Selina plans to request an additional stay by May 28, 2024.
Selina provided preliminary financial and operational information for Q1 2024 and FY 2023, showing significant progress in core business operations. The company negotiated the termination of 17 leased properties, leading to positive results in Q1 2024. Selina achieved a growth in GOP margin, reduced COH costs, and increased occupancy rates. Despite a decrease in revenue for Q1 2024, the company exited underperforming properties and focused on cost optimization, leading to improved profitability metrics. Management expressed confidence in the company's progress and partnership with a new investor, Osprey International
Selina Hospitality PLC announces key leadership appointments in its Operations and Commercial divisions to drive profitability and enhance guest experiences. New leaders bring extensive experience from renowned hospitality brands to further Selina's mission of creating authentic and memorable stays for its guests.
Selina Hospitality PLC, listed on NASDAQ as SLNA, has announced expedited funding of $6 million under a Subscription Agreement with Osprey International The funding will now be disbursed in four monthly installments of $1.5 million each through August 2024 instead of nine installments through December 2024. This decision showcases Osprey's confidence in Selina's progress and commitment to the company. Additionally, Selina entered into a Warrant Exchange Agreement with Bet on America , exchanging private placement warrants for ordinary shares. As of April 26, 2024, Selina has a total of 543,668,969 ordinary shares issued and outstanding.
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