Selina Hospitality
- 🦄Became a unicorn2021
- 📈Peak valuation$1.2 Billion ’22
- 💔Became a Unitard2023
- 💸Last valuationWiped out
How it happened
Selina built a global chain of design-forward hostels and co-working spaces for digital nomads, and went public on Nasdaq in October 2022 via a $1.2B SPAC merger with BOA Acquisition Corp. Internally the cash strain of its debt-fueled expansion was an open secret: Glassdoor reviews for years described suppliers and musicians going unpaid for months, staff buying their own laptops, and properties leaning on unpaid interns compensated in room credits — some predicted bankruptcy two years before it came. As the stock sank to pennies, reviewers reported even paychecks arriving late. After failing to repay a $50M IDB Invest loan, Selina fell into administration in July 2024, its operations sold to Collective Hospitality — a 99%+ wipeout.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.
Source: Skift / Calcalist / Hospitality Net ($1.2B SPAC merger with BOA Acquisition Corp Oct 2022, shares spiked to $40.90; failed $50M IDB Invest loan repayment; administration July 2024; operations sold to Collective Hospitality, value down >99% to ~$12M)