Lifestyle hotel brand Selina has raised $100 million in
Series C funding, bringing the company's total funding to $225 million to date.
The latest funding round was led by Access Industries, with
additional investments from Grupo Wiese and existing investor Colony Latam
Partners.
Selina pegs its valuation at $850 million.
Launched in 2015, Selina is a millennial-focused brand that
offers workspace for rent by the day, week or month in addition to overnight
accommodations. The company has more than 40 hotels across Argentina, Brazil,
Panama, Costa Rica, Colombia, Mexico, Guatemala, Nicaragua, Peru, Bolivia,
Ecuador and Portugal.
The Series C is likely to help fuel Selina's aggressive
expansion plans, with the company currently targeting 400 total locations by
2023.
Selina plans to open an additional 35 properties in the
U.S., U.K., Germany, Portugal, Greece, Israel, Argentina, Brazil and Mexico
this year, as well as make its foray into Asia by 2020.
Selina recently announced plans to invest heavily in New
York, with plans to open two Manhattan locations and one in Woodstock, N.Y.,
later this year.
The brand also has three Miami hotels under development and previously
said it aims to have 15 U.S. locations by the end of 2019.