Selina, the Latin American hospitality start-up that caters to digital nomads, has acquired Remote Year, a company that helps professionals take their careers outside of the traditional office, in an all-stock transaction.
Selina and Remote Year are two brands in the fast-growing remote work and travel spaces. According to LODGING Magazine, the two companies will work together and share resources, but their brands will remain distinct.
Remote Year will continue to exist as its own brand and will use Selina’s catalog of properties, which spans 19 countries and three continents, to improve its customer experience. Selina will tap into Remote Year’s community of professionals and remote workers as it focuses on longer-term stays and its remote work offering. As a collective, Selina and Remote Year will work together to tailor products that fit the needs of this expanding market.
The pandemic has accelerated the acceptance of work from anywhere and Selina expects a “massive influx of remote workers who are no longer tied to physical office spaces.” This has caused the company to aggressively pursue its “stay, play, and work from anywhere” model.
During the pandemic, Selina has continued to open locations around the world. It has opened seven locations with 10 more slated to open over the next few months. Selina looks to further expand in Europe and the United States over the next two years.
In the United States, Selina has locations in New Orleans, Miami, and New York with upcoming openings in Fredericksburg, Md., Washington, D.C., and Utah.
The company recently launched subscription travel packages, which let travelers “move among its locations and access accommodations, co-working spaces, programming, and more at properties regionally or globally.”
Selina offers three types of subscription:
- Nomad Passport allows travelers to purchase bulk 30-, 60-, or 90-night credits at a discounted rate that can be used whenever they prefer within a period of about two years at any Selina location.
- CoLive plan allows travelers to choose between one, three, or sixth-month stays at any designated property for a base price that is set in the first month and applied for the duration of the stay.
- B2B Remote Work Pass for employees. Packages also have amenities and add-ons ranging from co-working desks and daily wellness classes to weekly cleaning service and on-property discounts.
Selina’s Vision of the Live and Work From Anywhere Future
Selina co-founder and CEO Rafi Museri’s vision of the future is similar to what Airbnb CEO Brian Chesky has said repeatedly — more people are desiring to live and work anywhere.
Museri sees a future where more people will be free to travel for several months of the year and work from any location. He added that Selina has provided a place for digital nomads and remote workers since its inception. Museri noted that in the company’s language, “digital nomads” are freelancers and explorers with few restrictions who are constantly looking for their next gig, while remote workers have a job. “We were always there for the digital nomad. We were always there for the remote workers. We were always there for the young travelers, weekenders, vacationers, millennials,” he said. “I believe that now this is the massive, number-one value proposition of the company: That everywhere around the world—from a remote jungle all the way to prime cities—you can come to a place where you have the facilities you need to be able to work, play, and stay.”
Museri said that there are three types of businesses in the current environment: Those that are no longer relevant in a post-COVID era; those with operations that will slow but will eventually return to pre-pandemic levels; and those that are positioned to grow in this new world. “You need to be able to jump at that opportunity and that’s exactly what we did in the last five months.”LODGING Magazine
Museri is extremely bullish on the future of remote work and travel and the Remote Year acquisition is another move to get ahead of the market. In a press release he said, “With the acquisition of the Remote Year brand and the launch of our subscription-based packages, it’s clear that our business model is one designed for this new age of working, and is well-positioned to support not only long-standing digital nomads but also a new generation of remote workers that are being offered more flexible work environments by companies looking to attract and retain talent.”
photo credit: selina